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Home Affordability Calculator
Once You've Decided You Want To Buy...
The Next Thing Is To Calculate How Much House You Can Afford
In the Bay Area, your first home is likely to be a "starter home". Unless you're independently wealthy, it's unlikely that your first home will be your Dream Home. However, it is a great first step on the path to the home that you ultimately want to own. The general trend line for Bay Area real estate has been steeply rising for decades—in spite of periodic corrections. Please be aware that past results don't guarantee future results. Overall however, getting into a starter home to climb the "property value ladder" is a strategy to consider.
Do Your Own Research and Carefully Consider Your Circumstances
There are many variables that you will want to think about. Here area a few:
How secure is your job and income and the jobs and income of any potential co-owners?
Will you have adequate savings to support the home payments should there be a loss of income?
How long do you expect to be in the home? If you're not in a situation where you won't be forced to sell in a down market, that's obviously better than taking a chance on a potential forced sale.