Single family home in Carlsbad CA for primary residence

[Steven Ellis]

Hi everyone! I’m hoping for some sage advice regarding a home we have an offer accepted (it seems my agent had a good relationship with the selling agent). It’s a 3 bed 2 bath -1600sqft home in the La Costa neighborhood of Carlsbad CA (san diego) and we really like the neighborhood/home. Our offer is at 1.4M and although it is a stretch for us we can afford it responsibly. However we are concerned that we are overpaying massively for the home and maybe making a financial blunder. We could wait and rent longer but we will be burning money and not saving much. With headwinds such as rising interest rates potentially more inventory coming on the market soon is this an insane decision? I keep seeing homes that were larger in the neighborhood that sold for less just 2-3 months ago when interest rates are lower and it’s haunting my dreams. Our plan is to be there for approx 5-7 years and maybe step down to a less expensive market closer to our parents.