New home or old homes in the East Bay?

New home or old homes in the East Bay?

Member since 2020 · 6 posts · 1 vote

Hi. I currently own a residence in San Jose, Ca. I finished my garage conversion ADU 1 1/2 year ago and renting it out. Got approved for another loan. Aiming to buy the end of this year and targeting East Bay. Been researching but I am more inclined in new homes. Goal is buy and hold long term. I have no plans in retiring soon. I will work as long as I am physically able to so cash flow is not my priority. Looking more at appreciation play. Are buying new homes better? Here in San Jose, it is a bidding war and people pay way more than the listing price. Would it be like this in the East Bay? Because if it is, I would rather buy a new home. Thoughts?

Thanks in advance.

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  • Realtor · Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility · Member since 2016 · 2k+ posts · 2k+ votes
    4y

    Still bidding wars in the East Bay for SFR's. I tell my clients they can mitigate this with new home construction.

  • Real Estate Agent · San Jose, CA · Member since 2017 · 29 posts · 11 votes
    4y

    I agree with Brian, the East Bay has a lot of buyer demandl. I recommend single family homes for appreciation. Antioch is still pretty affordable. 

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