>Keep in mind that instead of feeling bad about losing possible equity in a house you could invest that money instead of spending it on closing costs. So in a short term situation you can potentially earn more money by NOT buying a house, even if the monthly payments are the same.
Can you explain this a bit more. What is your definition of short term and by investments im assuming equities. Generally for a less than 5 years the advice is not to invest downpayment money in risk assets.
>Also keep in mind that 1 million dollar house in Bay area gets you a reasonably nice place.
I wish.houses in the east bay are listed between 1-1.5. And are sold over list. I’m not even thinking about peninsula or South Bay that is double the price for a smaller home.
For 1m I’d have to move over an hour or more away if not more or buy rougher housing stock on the east bay listed <1m. Might get luckier with condos tho.
Can you explain this a bit more. What is your definition of short term and by investments im assuming equities. Generally for a less than 5 years the advice is not to invest downpayment money in risk assets.
>Also keep in mind that 1 million dollar house in Bay area gets you a reasonably nice place.
I wish.houses in the east bay are listed between 1-1.5. And are sold over list. I’m not even thinking about peninsula or South Bay that is double the price for a smaller home.
For 1m I’d have to move over an hour or more away if not more or buy rougher housing stock on the east bay listed <1m. Might get luckier with condos tho.