2 ms·
You have to play the Bay Area real estate game - which is itself a gamble - but always begins with buying less than you eventually want. This is what gets frust
by Domenic_S 10y ago
You have to play the Bay Area real estate game - which is itself a gamble - but always begins with buying less than you eventually want. This is what gets frustrating talking RE with folks, especially younger ones -- of COURSE you can't buy Barbie's American Dream House in one of the most competitive real estate markets in the world, you're 30 and don't have rich parents.
I'm a huge fan of getting out of Silicon Valley. Cashing in on BigCo salary for a few years and then buying a house in TX/PA/wherever in cash is a totally valid game plan. I think it's hilarious that our industry essentially invented modern telecommuting yet uses it so rarely.
As an aside, $250k may get you a nice house in PA, but the salaries are correspondingly lower. If you can't get paid substantially more in the Bay Area there's really no good reason to be/stay/move here since everything's so expensive.
- Hydraulix989 10y ago"of COURSE you can't buy Barbie's American Dream House in one of the most competitive real estate markets in the world" It's not even that though, $1M now gets you what's called a "fixer-upper" in SF -- a euphemism which actually means a house with broken gas lines that you literally risk your life occupying. It's also impossible to save money here for a future house in a cheaper city when the median rent is $4000/month.
- Domenic_S 10y agoWe're talking in circles now. Originally I said a person HAS to leave the "cool" areas of the Bay (SF proper being one of them) if they're looking to get ahead in the housing market. I don't think that point's been disproven here.