{ "media_type": "text", "post_content": "I’m 24 and have $150,000 in the stock market(using for a house eventually, 30k savings and make 75k a year. How can I buy a house in the Bay Area as I’m renting a room right now (1K monthly) other then that, that is my only expense.", "post_id": "61a8edf8d7f0e30029891051", "reply_count": 8, "vote_count": 3, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

I’m 24 and have $150,000 in the stock market(using for a house eventually, 30k savings and make 75k a year. How can I buy a house in the Bay Area as I’m renting a room right now (1K monthly) other then that, that is my only expense.

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Move to LCOL and use $150k to buy house outright 😃

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I’d focus on professional development and growing your salary. That’ll make it pretty easy right?

Agreed. That salary will need to come up to qualify for a loan on anything in the Bay Area. How long have you been at your current role? Are there any professional certifications that might help justify a pay increase?

You might want to look at HR consulting opportunities. HR (generally) isn’t a high salary profession. If you could transition into HR consulting, your salary potential would increase quite a bit.

Honestly it’s extremely hard to buy a home in the Bay Area right now. Demand is high, supply is low. Prices are wildly high. Those in high tech have extraordinary cash flows that allow them to put 50% or more down, and oftentimes all cash offers that beat everyone else. Homes in my area (south SJ) are off the market in 5 days or less and all sell for over $1 million. My advice is to keep on saving, find other income streams. Sorry to be discouraging…it’s incredibly tough out here!!

Go farther out and buy a house. Maybe take the Ace train into the Bay Area. That’s how I bought my first house. I moved to north Stockton and then eventually went to remote working

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