For $2.5M home with 20% down and 7% interest, the monthly payment is like $16.2k Even with 40% down, it is like $12.5 per month. Appreciate any advice/strategies. Been renting for 10+ years. HHTC - 500k (40% is stock which fluctuates) #mortgage #housing #bayarea
Don’t be first time buyer. Hehe
This guy gets it
FYI - you are a ‘first time buyer’ every 3 years you don’t make a purchase. And you can qualify for special loan products. It doesn’t mean “never purchased a home.”
I live in the house I grew up in, parents left to Arizona. I know a lot of people like this I went to school with. One family lives in Sunnyvale and the guy coaches baseball and his wife is a teacher. They have the family home and his parents moved to Boise.
Arizona is such a great place to retire
Easy for two Nvidians
Chinese parents.
nah beijing shanghai zhejiang guangdong parents only. rest are trash.
Best strategy would be to save a lot of money for a down payment and get a high TC for the monthly payment.
They dont typically - usually falls into 3 different categories: inherited/family home from 20-30+ years back, extremely high HHI (or wealth in general), or they have multiple people on the mortgage to use their salaries (close friends, family, etc).
You could rent an equivalent size home for cheaper and save the extra cash in an ETF
How much have you saved?
~ $2M investment across stocks, HYSA & T-Bills
Sounds like you’re doing far better than the homeowners drowning in repair bills as their completely illiquid home appreciates
People with 800k+ HHTC or with considerable down payment can. Enough of those in Bay Area today while stocks are ATH
I think you can even do it with 650k TC without too much worry