Cupertino (Sunnyvale, Santa Clara: apartment, condo, income)

[smu7070]

I am a college student who will obtain a B.S. (Computer Science) degree in the near future. Initially, I plan to rent apartment in Cupertino, but homeownership there is my ultimate goal. Size of the housing unit is unimportant.

Do you think it would be feasable to transition from an apartment to an entry-level condo (approx. $420,000+, last I checked) after a few years or more? Or do you think I would be better of buying a condo in a less expensive area (Sunnyvale, Santa Clara) and begin a process of buying up?

[Luke9686]

It would definately be more logical to buy in Sunnyvale or Santa Clara now and trade "up" in a couple years. If prices are at $420,000 and up in Cupertino now, they will be way above that in a couple years.

[Pamandan]

Definately buy now and move up later..............Santa Clara has some very nice areas and so does Sunnyvale.

We purchased a home in SJ for $210,000- 4 years later sold it for $475,000. Greatest investment we ever made!

[rheadabovewater]

The housing market right now is very dead - so that means you can probably get a good deal. Best time to buy - however, the housing market here is very expensive. ""Flipping" and making money can be tricky....Cupertino is one of the most expensive areas....start off in Sunnyvale or Santa Clara, however I have to warn you that $420K won't get you very much. It's outrageously expensive here.

[Einsteinsf]

If you believe you will have a job soon w/ decent income, buy as soon as you can. The next several months should be some of the best buying opportunities around, and rates are still very low.