Bay Area Home Purchase guidance

[Yash Desai]

Happy new Year folks!

My goal this year is to purchase my first property. I currently live in the bay area and want to buy something to live in. However, decent houses that are 2/3 bedroom are close to $1.2m. I am wondering rather than buying a house if I should buy a rental property outside of San Francisco and live in my currently rent controlled unit until my wife and I absolutely have to move out. The goal would be to build some equity in the rental unit which then I can use it towards my own house.

I would love to hear your thoughts or if someone has a similar experience.

Thank you,