Newsflash: Interested in buying a place in the South Bay [Bay Area CA]

Marital Status: Single Children: None Savings: $50K Yearly Base Income: $130KI currently own a house in a Bay Area CA suburb valued that doubled in value to $500K and I owe $125K on it. My monthly payments with HOA are $1600/month. I work as an engineer in the Silicon Valley, am currently renting a room in the South Bay for $550 but would like to eventually own a place down there. The going rate for a condo in areas I’m interested in from what I’ve researched so far is at least $700K.I would like to know what would be the better course of action. Should I…continue what I’m doing and pay down my current mortgagesell my current house and use the proceeds to another houseuse my equity as a down payment for another house and try to rent out the original home

Read more at https://www.reddit.com/r/RealEstate/comments/6h31ia/interested_in_buying_a_place_in_the_south_bay_bay/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s