A Reddit user with an $11 million net worth is contemplating buying a $4 million home in the Bay Area, where property values are rising rapidly. Despite having a substantial income of $2 million and significant savings, he is concerned about high interest rates impacting the mortgage. He aims to strategize the deal to make it financially viable. This will be their first home purchase, and the couple prioritizes quality school options for their child.
Buying a $4 million home is a major investment, and not something many people can do.
He wants to get into the market as property values are increasing rapidly.
High mortgage rates are a concern for the Reddit poster as he strategizes the deal.
The couple makes a combined income of $2 million but ends up with $1 million left over after taxes.
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