About to close on a $1.5m SFH and excited for this chapter of my life and starting a young family with my partner.
But I feel nervous about spending almost all of my savings on the downpayment (25%). However, it’s a very charming house, great location in SoCal, kind of remote from the center of activity in Orange county, the house is within a 2 minute walk to ocean views, lots of privacy, great backyard, newly built in the past decade or so. Inspection was almost flawless. Appraisal came above contract price. Only worry about the purchase price is that I feel like I’m buying at the top but a few days ago I saw two comps go into escrow, one with an ocean view ($2.3m) and one without ($1.7m) of the same plan and community.
Only thing I would change are the cabinets and countertops since they’re not my style. But anyone who’s looked at them says they’re in great condition.
The mortgage and tax payments are about what I had been saving per month so it’s not much of a change.
I think we’ll live in it for 7-10 years minimum.
What are your thoughts?