I am a single, making 170k TC... planning to buy 3 bed 2 bath Townhouse or single family House (preferred) in 2020... I intend/plan to work in FB/G/Apple... so 30-45 minutes across Sunnyvale is fine... Budget - 800 to 1 million Example: Is Milpitas City a Good/potential option... close to Bart or great mall?? - Any other City/neighborhood you suggest??? Townhouse is also fine but single family House is preferred.
Single family home?
Milpitas stinks
Milpitas doesn’t have a great reputation but it’s in a decent location for commuting / access to jobs. Closer areas like Sunnyvale or San Jose are more desirable. If you’re not planning to stay long term I would not recommend buying in Milpitas just to say you own property.
My thought process... Milpitas is gaining attraction due to the Bart station...and Milpitas is a midpoint location... even if I switch jobs between SF Sunnyvale sanjose... Sunnyvale is too expensive option for me.
1. You will not find livable house in your criteria in less than 980K. 2. Milpitas smell? I don’t know how people live there but if you think you can then consider hoping around that area when smell is at peak. Some may tolerate it, some may not, don’t go by what I says, find your tolerable limits. 3. You are going in right direction but allow sometime to educate yourself, understand process, types of properties, what is HOA disclosure, HOA reserve, which parts in property disclosures are important while buying property. 4. Once you understand lots of jargons and property terms then you will be able to creat your requirement like what are you looking for... example HOA coverage, big lot, distance, potential to extend, backyard, schools..... 5. While doing all this, figure out how can you bump up your savings, 150K savings is not at all enough, if you are single earner and having kids then 800K is also a stretch goal for you. While you can always put up less than 20% down payment, mortgage of 5000K/mo may or may not be sustainable. 6. While impulsively you may settle on some property for less than 800K somewhere far or in wrong neighborhood, with unstable outlook in current Bay Area market it may put you in bad trap, so take your time and educate yourself as much as possible. DM me, not now but after few quarters 👍
Thank you very much. This is really useful advice from you. 😊
Start somewhere, you will get there soon. Who knows? may be you will take a year to build enough reserve for down payment but by then house prices might have come down or settled moderately...
Daly City
Remember, big companies are capable of making big flip in their feature campuses strategy in a click. Cisco did that flip 15 years ago, Apple did it with city of Sunnyvale and have locked Horns with Cupertino for extra space and taxes fight. Never go by that criteria like a 100% possibility. Buy as if you will find that as great deal even if some company walk out with their investments.
Got you. Thank you for your advice.
Union City
Thanks for advice... But I personally don't want to stretch beyond Fremont...
Milpitas near BART is good. The smell problem is exaggerated on Blind. Rent there for a year before you buy if you are concerned. Close to good schools, grocery, restaurants, BART, entertainment and reasonable commute.
You should buy a duplex or triplex for 1.5-2m in sf and live in one of the units. Take shuttles to work. You can rent out other units and use the cash flow to cover your mortgage. If you can't do that, it's suggested you stay at your current location and just pay for rent. You should save for more down payments.
How do you afford a 800k house on 170k TC 🤐
Some math I think of... 150 down... Monthly emi around 5.5k...which I can afford What is the Good TC to Target one million House???
Still in early planning stage...