First house in Seattle area

[Amit Yadav]

So we have been looking to buy a house in Seattle area. We have been mainly looking in Magnolia, Ballard, Greenlake, University District, West Seattle, Maple leaf etc. (you get the idea). Below are our few wants/needs

1. The goal is not to have more than 30-35ish minutes of commute during rush hour (to downtown).

2. If we decide to rent it out in a couple of years(2-3 years), it hopefully will pay for itself.

3. If we decide to sell it in a couple of years(2-3 years), we hopefully won't lose money(and would have saved on the rent atleast).

4. Right now we only look at houses which are near 6+ schools because investment is one part of it, but we also will live in the house so want a decent neighborhood.

5. The only reason we want to buy a house(and not rent for 2-3 years) is because the rent in these areas is crazy, it's literally like paying someone else's mortgage.

I know noone knows what's the future is going to be, but we want to make an informed decision based on any help we can get. Please don't hesitate to let us know that what we want , does not exist.

[Ben Buckley]

Amit - Being that we are at the end of 9 consecutive years of increases in prices in the market I would not be betting on prices holding over the next few years. As a broker, I always recommend you plan on holding real estate a minimum 5 years. In order for you to break even you need an appreciating market. Your sales costs of 8-9% plus all the expenses of maintenance and your initial purchases expenses will end up costing you much more than paying rent for a couple years.