Hi Surf, I am having a pandemic baby next month too.
I agree 100% with SDR. Buy RIGHT NOW. Even a 5% increase in the next 4 months is a loss to you of 0.05*800k or $40,000!
You should also seriously see how much higher you can go with your budget. Moving gets harder and harder as you age and should be avoided if you can get a place that’s better. I never thought I’d stay in place for 10 years, but I did. I am happy I got something nice and big back then.
We have submarkets here where inventory is 80% below the lowish levels of 2015-2019, or even at zero listings. When I purchased in Ocean Beach in 2011 there were about 40 detached homes and 30 condos to choose from. Now there’s zero condos on the market and the three “
detached listings are actually one duplex and two teardowns of tiny old beater cottages on big lots.
Something I didn’t realize btw is that as soon as you close, you can reduce your tax withholding to reflect your new mortgage interest deduction. Your take home pay will go up by about $600 per month for this reason.
