Where to live... new baby and eventually new jobs

[Anonymous]

Oh AND you want two kids? So two daycare payments or nanny on top of that mortgage on your income?

No.

[Anonymous]

OP, your salaries are not high enough to justify staying in California. You could come to DC, work for tech (amazon, google, Facebook and uber are all here) and buy the 500-600k house that is in your budget. You cannot afford 1.1M. Esp once child care bills hit- do. not. do. this. There is no rush. The +baby does not require that you own a house this instant.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:I think you are stretching with your budget. We have the same salary and our house is 600k ( not SF, DC suburb) House ownership is really expensive, something always has to get fixed, this is going to be specially true if you buy am older house.

If things get really expensive, our parents said they can take out a HELOC and loan us money and then we’ll pay them back.

You’re an adult right? Learn to live within your meAns.

Whatever. Everyone of our friends had their parents basically buy them a home. Adults who aren’t tech bro’s either have family help or leave. That’s the reality here.

You don’t sound entitled at all.

If you already have mommy and daddy as your back-up plan why are you asking for advice?

They are an extreme backup plan, like one of us loses their job or we need a new roof before we rebuild savings.

They aren’t part of the day to day plan of how we afford a home. But no one our age is buying homes with mom and dad, everyone who can’t moves away.

Oh but they are; the scenarios you list are probable. You need to live within your means. It’s that simple.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think you are stretching with your budget. We have the same salary and our house is 600k ( not SF, DC suburb) House ownership is really expensive, something always has to get fixed, this is going to be specially true if you buy am older house.

If things get really expensive, our parents said they can take out a HELOC and loan us money and then we’ll pay them back.

You’re an adult right? Learn to live within your meAns.

Whatever. Everyone of our friends had their parents basically buy them a home. Adults who aren’t tech bro’s either have family help or leave. That’s the reality here.

You don’t sound entitled at all.

If you already have mommy and daddy as your back-up plan why are you asking for advice?

They are an extreme backup plan, like one of us loses their job or we need a new roof before we rebuild savings.

They aren’t part of the day to day plan of how we afford a home. But no one our age is buying homes with mom and dad, everyone who can’t moves away.

Oh but they are; the scenarios you list are probable. You need to live within your means. It’s that simple.

Exactly. I’m from the Bay Area and you have several things that could easily go wrong:

Losing YOUR job. A 100k startup job in Bay Area is not stable. A lot of startups go under. And I’m guessing on that salary you are not some superstar engineer who can find a job tomorrow.
Your DH losing his job. He’s in tech sales at 150k. That means he isn’t really established yet with clients and can easily get fired. Unless you’re established with a good list of connections tech sales guys are also a dime a dozen.
Your older house needs a new roof, windows or both. The older housing stock there is not in good shape.
You struggle to find childcare for two kids and when you get off the waiting list, it eats up almost your entire post tax salary so now you’re living and making mortgage entirely on DHs salary.
Your kid needs some special therapy or public school isn’t working.

Welcome to SF. You can’t afford that much house here on your skills.

-someone from SF

[Anonymous]

No one can afford that much house on the planet on that salary, with a baby in need of childcare on the way.

OP, the way people in SF on your salary afford real estate is by selling RSUs. Your husband works for tech. Surely he has some RSUs to cash in. If not, I mean, you can afford maybe a 1 bedroom apartment and childcare.

[Anonymous]

Anonymous wrote:No one can afford that much house on the planet on that salary, with a baby in need of childcare on the way.

OP, the way people in SF on your salary afford real estate is by selling RSUs. Your husband works for tech. Surely he has some RSUs to cash in. If not, I mean, you can afford maybe a 1 bedroom apartment and childcare.

Edit to say, even without a baby you should only ever buy a house 2-3x your salary. We did 2x our salary and it was a pinch when our kids were in full time child care.