Is it advisable to max out your budget to buy your first home in Silicon Valley? By Ian batra
to cash out all the capital to get a house in Silicon Valley. Spending all the money by a buyer has merits and demerits, especially when Silicon Valley is the house’s location. Generally, buying a home has advantages because it attracts sellers. Also, it puts a buyer in a position for better deals due to the associated quote “time value of money.” Buying a house is associated with vast advantages, but how many people have cash lying in the bank to cater for a place in Silicon Valley. The number of people with such massive amounts is close to zero, especially first-time home buyers. JULY 2022 | 73
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ilicon Valley is home to tech companies such as Google and Facebook. The companies are associated with high pay to workers, which has significantly changed Silicon Valley. In the twentieth century, houses in Silicon valley sold cheaply, and most people termed the houses unworthy. Not in today’s market. Silicon Valley is among the most expensive places in the United States, and the situation will not change soon. Not with Covid 19 and the tech companies continue to employ more people. The average cost of buying a house is currently $1.9 million, and the number of homes does not meet demand. People interested in purchasing a property in the area may wonder if it is essential
