San Francisco Bay Area - First Purchase Guidance

[Ashley Watkins]

Good afternoon Bigger Pockets Community!

I am looking to buy my first property. For now, it will be used as a primary residence, but I have plans to rent it out in the future.

I am 22, and I just moved to the San Francisco Bay Area. I have been working with a realtor and a loan officer to get 1. Pre Approved and 2. Start searching!

My boyfriend and I aren't planning on putting in any offers till the Summer. We are currently in a 1 year lease that ends in late September.

Does anyone have any advice or tips they would like to share? Im open to general and Bay Area Specific comments!

My pre approval is for $325,000; 10% down. Anyone who knows the bay area knows that that isn't a lot to work with. I am heavily considering something that needs work, but don't want to get in too over my head with repairs. I want to be able to add value but not break the bank. Any suggestions on what things to avoid, and what repairs are worth the value add??? What kinds of repairs might need permits?

I have $50,000 cash to work with for the down payment, closing costs, and repairs..before going into credit card world, where I have 0% interest on a $7000 limit.

Much appreciated!
Ashley Watkins