Shopping for a $1.5M home in California (Silicon Valley)

im shocked, i knew that this area is the most expensive in the country, but i wasnt expecting the houses to be so.. basic

Learned a lot of words, new terms, got a lot of new information, improved my listening skills, enjoyed the video. Thanks a lot Ms Marina, love you ♥️♥️♥️

We used to visit a friend of mine in East Palo Alto. Her house was small, but the garden was big, so she built another room and bathroom. She used to host friends and have parties in her garden. The weather is fantastic there as well.

You are in California. This is the land of ADU. Get in to anything, build the lot, make multi units- rent it out. Keep the mindset that “I’m not living here, I’m investing”.

You motivate me to never settle. Love your videos

Used to live in bay area in CA. Could only afford a little mobile for our starter home even tho hub had well-paying job. Moved to small town further north and now we have a half acre and own our home. The trade -off is work is harder to find. But we're almost retired now. We are glad to leave big-city issues/prices behind.

Marina, depending on where you look, it can be a dump for $1.5m or something nice for less. Being a native born in San Mateo and raised in Cupertino, expand your circle. If you are not tied to Silicon Valley for work, consider Capitola, Pacific Grove, Carmel, or Morgan Hill.

wow 1.5 millions USD . great tips for looking to buy a house for living not for just number game like investors, but finding a reasonable price and matching all needs and wants in your right home also take a lot of time. ^^! Good luck and cant wait to see more about this contents from you.

The Bay Area is not precluded from a housing market correction. Many technology companies have grown over the past decade by taking on enormous amounts of debt because interest rates were low. That’s now reversing and as tech stock prices deflate, individuals in Silicon Valley will have less money for down payments. Hang in there and be patient. In time, I think you’ll be able to buy something you love in a nice location for you and your family. Prices will not go up exponentially into perpetuity.

One thing to keep in mind when you take a 30 year mortgage (amortization) period is that if you decide to move after 5 or 10 years, you will still owe a lot because you won't have paid off much of the principal, assuming 20% down. So you have to be sure that the resale price will cover the mortgage payments you have made. In essence, if you are putting down 20%, you are essentially renting a lot of money, along with the added costs or upkeep, taxes and fees. With a 30 year term, the bank collects the rental fee (interest) in the first years of mortgage payments. So 10 years into your 30 year mortgage, you won't have repaid 1/3 of your debt, but something much less. Many first time buyers do not understand this because they only look at the monthly payment calculation, some even extending the term from 25 to 30 years to reduce it. This just adds to the bank's profit, and increases the buyer's total debt. Your networth can go down if borrow too much and the value of the house does not go up enough to offset the borrowing costs. In the situation of having kids and wanting to live in silicon valley, I'd say don't even look untill you have 1 million to put down, because you can probably do better by living frugally and renting while you build your business and increase your net worth to at least $5 million so that you can put 1-2 down on a home that is 4-9 million. Or just don't live in Cali until you have made a lot of money.