Best place to buy Seattle less than $1.5M
Title says it all Tc: $350k
Go east, young man.
1.5 will get you most homes in Ballard still
Issaquah. Or Alki/West Seattle. Or Leschi. Or Green Lake.
Of these, your money will go farther in West Seattle but it can sometimes feel isolated over there.
I’m also worried about resell and know nothing about west Seattle. Currently have 1 bedroom condo in slu
West Seattle resale is fine
Outside of WA …
I have to be in office 3-4 times a week
Given where your offices are then something north of downtown & west of I-5 would give you best quality of life. Ballard/Greenwood seem like the best options. Magnolia maybe if you want to be close to the action and in a quieter neighborhood.
If you don’t commute to downtown, Bothell’s really nice
I would note that, should you lose your job, would you find an equitable one elsewhere? I’m hesitant to buy, since I’m having issues with being that far leveraged with nothing much to fall back on. (Losing your job may coincide with a wider market fall-out and house price depression, so your equity in the house may evaporate also).
This could happen at anytime not just right now. Can’t live in fear… I don’t see Seattle housing changing anytime soon
True, but I guess I’m talking for a position similar to my own. As I doing know OPs personal position. But 350k TC for $1.5M place seems to suggest a stretch / over-leveraged (didn’t comment on partner TC or deposit in hand, so can’t figure that in) My particular skillset doesn’t translate well to other companies in this area, so I’d left holding the bag and having to move to another state, for less comp most likely. So I’m aiming for a much bigger deposit to reduce leverage needed to buy. (I say it as a warning, as I see people here [META] springing to max leverage (5% deposit type mortgages) to buy a place, leaving themselves open to being completely zero’d out if things go sideways) I also don’t have family wealth / family support network to dig me out, so I’m 100% self reliant, and have to make financial decisions as such. (While not in Seattle myself, but the surrounding burbs in king county, property during the peak in my area was going for $1.5M sold, but now it’s back down to 1-1.2M, so they’d be under water already… My rent has remained stable, since I’m performing basic maintenance work FoC to the landlord, since I’m capable, and they financially benefit from this relationship.) So yeah, wall of text, just want to be the devils advocate to smart financial decisions.
Issaquah side you can still find some good options in that range ..
Wedgewood? If you don't mind eastside check out Issaquah/Newcastle/Sammamish also?
Work in magnolia with no kids so not looking at east side
Then vote for Ballard. You can find appropriate TH/SFH within 1M and resell is always good. 1.5M might be too stretch