House price - 1.2M Location - Kirkland Household TC - 380k Total savings (including vested stock but excluding 401k) - 400k yoe - 7 (approx the same for both) No kids but may have in the next 2-3 years Visa status - H1B (2 years left and i140 at least an year away) Buy or wait ?
Wait for what - is my question. Wait for gc? For house price to fall? For mortgage rate to fall? For having a baby? For tc to rise? If this is your first house, then why worry too much about timing the market?
Wait primarily for i140 and possible house price drop was the question. If for some reason we do not get i140 and have to move to another country, it will be difficult to pay for the house and we may have to sell it
Down payment? Rate? $1.2m seems like it’s near/at the top of your budget
1.2M in Kirkland?? Crazy..
Welcome to reality.... That's the starting point .... Usually you would end up paying more
I wouldn’t consider buying until you have an approved I140 . You have a way higher risk tolerance than me.
I wouldn’t wait for a price drop as it may never come. But inventory is really low in the Seattle metro area right now. Don’t buy something because of FOMO. If it’s not right for you, wait until something you like pops up. Also that’s a really expensive place for a couple without kids and for that TC. I’d plan to get a plan to get a place you won’t grow out of for the next 4-5 years. You probably only need a 3 bedroom townhouse for that, which will save you about $400k.
Just closed my 1.5m house in Kirkland. I think we could manage this easily and so could you. House hold TC 500k. Yoe: 5, both working at G and pretty stable.
Wait. Split all your money between $AMZN and $SHOP. But house with cash in 3 years
Settle for 800k house/condo sir. That way you do not crater your expenses in case things go south. 1.2M would give me a heart attack.
Wait, get a smaller place , also give market 12 months to drop more
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The best time to buy a house is always 2 years ago
Not in the Seattle area it wasn’t. Prices are lower now than it was then.
Not if you factor in gain in home equity against rent paid. Market is stagnant, not trending downward