Buy or rent in South Bay?
If you could barely afford a down payment and monthly mortgage for a SFH, would you pull the trigger in this market?
Many folks say that property values will only rise in the South Bay, so better to get in sooner, but these prices feel crazy (1.5M+) for what wouldn’t be a dream home for us. If rates were lower it would be more palatable since we could always plan to rent out a “starter” home down the road and have tenant pay the mortgage, but the math isn’t mathing now…
We keep falling back to renting ourselves and investing some of the difference, while continuing to build up the down payment treasure chest.