First Time Home Buyer, Advice Please :)
I'm 35F with an income of $250k. I’m looking to put 10% down on a one-bedroom condo in Sausalito at the $525-550k price point. I have no debt, no car payment, no student loans, and it's just myself. I also have an 800+ credit score. I don’t have significant savings at the moment, as I spent most of my career in another city with a lower income.
In San Francisco, my rent has ranged from $3,200 to $3,500, and I’d like to invest in a condo where I can live long-term. I’m drawn to Sausalito for how close it is to nature, and I can take the ferry to work fairly easily. I like having a quiet place to live while still being able to enjoy the city on weekends.
I’ve never purchased a home before, and I’m aware that interest rates are currently high. Does it make sense to buy? Would this be doable for someone in my situation? I plan to stay in the condo long-term and would prefer to build equity rather than continue paying rent.