Anyone dreams of owning a single family house in the nice parts of NYC or San Francisco? Feels like owning a home in the 2 “coastal elite” VHCOL cities is a dream …

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I think a lot of people have this dream. Whether you can turn it in to reality is a different question. Though step one is probably DINK life, which is my and my SO’s plan. I’m perfectly content being the fun rich uncle.

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This!!

Started thinking this way, then realized I want a yard and more space for the family, dog, kids etc.

Given your title I assume you're younger. Your mindset may change based on the next 5-10yrs and based on who you meet and what they value from the real estate front.

Now I'd rather live at the beach than in Manhattan if I could.

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Hamptons beachfront > Manhattan always

Engineers at big tech often get stock options that can add an additional $50k to $200k per year depending on vesting schedule and growth of the company over time, on top of their already high salaries. That makes it hard for the non tech worker to compete on offers.

Your options are often:
- buy in the burbs and face a very long commute
- buy a condo and hope to trade up over time
- move to a slightly lower cost of living location

The 3 most important factors in real estate are location, location, location. SF and NYC have effectively no undeveloped land, so prices on anything in the “right” location are high. This is supply / demand 101. You won’t change that just because you WANT to buy a SFH.

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I could afford a $1M home in LA but when I compared it to a $500k home I could buy in AZ I bolted. Perhaps consider if there is another city you could buy in that would be more affordable but still affluent.

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But still much less than homes in LA, SF, NY

Plenty of people live in the suburbs of either of those cities. I understand it feels like it’s hard to achieve the dream of being in the “best” neighborhood but that’s why the metro areas associated with these cities are so large - and it can be better in many ways to live further out

Hamptons would be a dream

Hamptons house prices are reasonable for what they are, but the property taxes are crazy!!!

Yea, live the dream, get a jumbo mortgage, pay interest only for the privilege of living in those cities until you’ve had your fix, then move to Austin, TX or somewhere in Florida where you can buy your dream house.

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