Need Suggestion on Whether to buy a condo or an SFH as First Home

[Patla Ash]

Hi,

I am a newbie and have not purchased my home yet. I pay about $3000 in rent in south Bay. I need suggestion on whether to buy a condo for less than 700k or to buy an SFH as First Home(South Bay, Fremont)

I believe that home prices are at all time highs in Bay Area, but I do not know when the downturn would hit us and would like to be best prepared. Here are my options:

1. Buy an SFH for around 1 million USD, live in it and ride through the downturn(whenever that happens)

2. Buy a Condo for around 700k(if I can find one) and hope to buy another one in the downturn, while still keeping the first one

I believe that a Condo would probably go down much further in a downturn when compared to SFH. I feel like the prices will go down once the interests rates go back up to pre-recession rates, but I also feel that the home prices may not go down that much, due to inventory and sellers not wanting to sell. But, regardless I would like to be prepared for a 20% downturn.

I would like to hear your views and also learn something from you guys. Can someone also chime in on how the new tax bill would change things in Bay Area Real Estate at all.

Thanks in advance,

Ash