{ "media_type": "text", "post_content": "South Bay resident here. Me and my spouse are planning on buying a house next 1-2 years to raise a family. Our family income comes up to 280k pa. Factors to consider/ thoughts?", "post_id": "5c51f840b8ef7b00141bf87a", "reply_count": 9, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

South Bay resident here. Me and my spouse are planning on buying a house next 1-2 years to raise a family. Our family income comes up to 280k pa. Factors to consider/ thoughts?

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How much cash do you have in your accounts is the question.

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We have just about 100k in liquid cash. We both are in late 20's.

Think about what you will actually use and don't overbuy. Larger houses are great but need a lot of extra maintenance and carrying cost. You will be shocked at the amount you are approved for. Recommend looking at a 15 year mortgage instead of 30. Keep in mind you can anyways upgrade your house in 10 years when kids are in middle school.

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Makes sense. Reducing financial burdens as you grow old in age = mental peace.

There are many South Bays. That should be enough money in most South Bays, including a starter-home in the San Francisco Bay Area.

San Jose, to clarify

Need to consider if you have enough money / income to afford it.

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