how can anyone afford a house in the bay area!

Jul 22, 2019 85 Comments

Please share your amazing journey of becoming a homeowner!

I am so frustrated, People who own a house in South Bay (Santa Clara, Sunnyvale, Milpitas..) area, how are you able to afford a house? Even with housing market on the dip, a beatdown 1975 house is still marked at 1.7million with multiple offers on the table! After blowing $3500 in rent alone I dont understand a realistic way to save for down payment! Maybe my approach to save and buy a house is all wrong! please share tips on how you are able to save for down payment (10% or 20%) and afford a 1.5mil plus houses that has 7000+ monthly emi’s. Share your amazing journey of becoming a homeowner!

TC: 180K YOE: 10

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TOP 85 Comments
  • Google emc2too
    The realistic way is to wait for the crash. Coastal usa is cyclic.
    Jul 22, 2019 21
    • Google emc2too
      Time will tell where we go
      Jul 24, 2019
    • Facebook public2
      Lol yep. Thank you for your thoughts!
      Jul 24, 2019
  • Dish Network / Eng
    C.Ergan

    Dish Network Eng

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    C.Erganmore
    Buy something within 4x your annual salary, even if it is a fixer upper. Fix things, live there for a few years. Then you'll have enough equity to buy a bigger house.
    Jul 22, 2019 2
  • Amgen Fin4eng
    Have a spouse who contributes. Have a higher TC. Look in San Jose or at townhouses. Get parental help. Wait for market to crash and buy then
    Jul 22, 2019 0
  • LinkedIn / Eng The zapper
    You need to make more money. Get to 300k get spouse to do 150k+ and buy a house
    Jul 22, 2019 0
  • Amazon lolr
    Have to win startup lottery. Or have dual tech incomes. Or have rich parents. Or have high TC (aka more yoe or more lc hard)

    Otherwise you are screwed. Bay Area housing is a hellhole
    Jul 22, 2019 0
  • Leave Bay Area.
    Jul 23, 2019 0
  • Uber / Eng mH7bSe
    The last line of your post IS the answer to your question.
    Jul 22, 2019 0
  • LinkedIn Wiener
    With your TC, buy in East Bay?

    Are you single? Why are your paying $3500 in rent? Rent a room instead and cut it to $1500.
    Jul 22, 2019 3
    • NVIDIA gust@vo
      I don’t know which area you live in, but you can easily find 2 bedroom apartment in north san jose ~3k. I pay 2800$ for a 2 bedroom apartment in north san jose. Zip 95134
      Jul 22, 2019
    • NVIDIA gust@vo
      You can also buy a good townhouse in 1.3M $$ around this area
      Jul 22, 2019
  • Amazon kens
    Time to gentrify the East Bay.
    Jul 23, 2019 1
    • Yahoo / Mgmt ultimate
      When are you putting that amazing offer?
      Jul 23, 2019
  • Facebook public2
    Save money aggressively. Buy house. House hack (rent extra rooms to friends), earn more money, buy rental house, use money from rental to save to buy another rental, repeat until you are able to buy the house you want. Pretty straightforward, the trick is again to save heavily so you are going to either need to up your comp or drastically reduce spending (eg get a cheaper place and a roommate).
    Jul 22, 2019 23
    • Google emc2too
      I buy when nobody is buying
      Jul 24, 2019
    • Facebook public2
      Yea, that's the goal. Off market ideally
      Jul 25, 2019

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