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California purchase in 1-3 years

Hi all,

I’m interested in learning about how to best position myself to buy a house in California (extended Bay Area, most likely) in the coming 1-3 years. We’re currently out of the country but plan to return at some point. Given the difficult macro and high interest rate environment, I figured it wouldn’t hurt to learn as much as possible now to be in the best position in a few years when we want to make a purchase.

Little more info:

  • First time home buyer
  • Income: ~$400K USD / year
  • Married, no debt
  • Credit score: 800+
  • Plan to use a service like Flyhomes to increase success rate

I realize the standard answer is: “Save up 20-30% for a downpayment, compare mortgages, and make as many offers as you can”, but wonder if there’s more to consider since we have a longer time horizon until a potential purchase.

Would welcome any advice. Thanks!

submitted by /u/cakepilot
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/118u8a8/california_purchase_in_13_years/
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