And like I said. Have fun renting. There’s nothing wrong with it. If you really don’t know where you want to live.[/quote]
ok, have fun in your 90’s (or maybe even 80’s) tract home. do you have white tiles on your bathroom counters? i love that stuff.[/quote]
Actually, my tiles are green in Carmel valley. They are linoleum in the bay area. So for me, tile is a huge upgrade!!!!! Plus i didnt spend anywhere near $1.3m. My wallets thank me… And because i didnt spend so much on my primary, i have a lot more things here that generate passive income instead of a primary home just sitting there as a liability. And most likely next month, the primary will be free and clear. So I will enjoy that nice extra $2600/month that I no longer need to pitch to a 15year along with the rest of my passive income. Not to me to mention the entire equity and my ass is now mine and not the banks. .muhahaahahahaha…
For me, a primary home is a place to live, with a decent school district, so my kid can grow up in an environment with other kids from also good families. As long as it doesn’t fall down, I don’t “need” to spend money on huge upgrades, especially with a little one breaking things and dropping things. I think I’ve put off repairing my bslcony for 4years now, despite me recommending my handyman to like 4 neighbors who have all done their upgrades. My tenants see more upgrades than I do. And thats OK because I don’t care. Just like some people don’t care about the cars they drive.
So far I havent met too many people that are pretentious, people who are considerably more wealthy than me who either own dental or doctor practices or is an exec at a company or a partner at a law firm. Maybe you are just hanging out in the wrong crowd or trying to be someone you aren’t.
So again, if you want something that is really nice, pay up. Because that’s the current market rate.
Or you could wait. Maybe you can get lucky. If your planning to pay cash, which it sounds like you are, you can probably wait for rates to rise. When rates rise, the weaker buyers that need to take out loans will drop off, at least in theory. So long as you aren’t the one that’s going to be mortgaging to death, a slight rise in rated probably won’t affect you as much as those that have a smaller down. I think most people in Carmel v out at least 50% down for a sfh. I don’t think many just do 20% because that gets into jumbo loan territory versus conforming plus.
Also some think that with Qualcomm laying off so many people, that will impact housing supply. I don’t personally think so because old Qualcomm employees probably already vested and have their homes paid, while new Qualcomm employees don’t have enough stock and options to play in this submarket to begin with. But who knows.
Good luck!
