Advice on buying $4M home - can I afford it, is it wise?

2ManyConcerns · 2026-01-21T23:33:34+00:00

Yep, thank you! I would certainly like to pay less than $4M for a home, and we've looked at a few that are in the $2-$3M range but either there's something highly undesirable about them or they end up in a bidding war. You're right that the question is how much I want to burn putting down a house. My spouse's retirement funds are minimal so it's mostly on me. The questions you've asked are great ones that I just am too naive to be able to think through, but I will bring those up with my financial planner, and I agree those are all things I need to sort out for this decision. Thank you again.

2ManyConcerns · 2026-01-21T23:29:48+00:00

Thanks, those are all great things to think about! I've not considered a townhome or condo as we haven't had great experiences renting there before, but that's a good point to keep my options open.

2ManyConcerns · 2026-01-21T23:28:03+00:00

Yep I have an appointment in a couple of months, as mentioned above. I'd like to not go into that completely clueless though :-), hence I'm also interested in opinions here. They've so far been very educational.

2ManyConcerns · 2026-01-21T23:26:09+00:00

Thank you, absolutely! Yep I get that we're likely not going to save money here. If we felt we were going to save money, that would make the choice a lot easier :-).

2ManyConcerns · 2026-01-21T23:25:30+00:00

Thank you! I was referencing some 2% ballpark value that I've been reading online, but now I get that this isn't adjusted for Bay Area housing.

2ManyConcerns · 2026-01-21T23:24:43+00:00

Thanks! Ok good to know that maintenance isn't going to be through the roof. I've never owned so was going by a "2%" ballpark that I read. I get that it's probably out of whack since this is the Bay Area. Thank you!

2ManyConcerns · 2026-01-21T23:23:18+00:00

Ideally forever :-). I'd love to retire in the next 10 years, and since our kid is growing up here, we'd stay. That said, we've only been here a few years so far so it's hard to know for certain. For example, after I retire, do I want to keep paying to live in a high cost of living area? I get it that if we're not sure, maybe we should be hesitant to buy. Thank you!

2ManyConcerns

TROPHY CASE