Buying a home under F1-OPT Visa, Seattle vs Bay Area ??– need advice
I’ve been out of school for a little over a year and am currently working at a big tech company under F1-OPT visa. My wife graduated a few years earlier and is currently working under F1-CPT visa.
Recently, I’ve noticed that the housing market in the Seattle area has cooled down quite a bit compared to when I was in school. Back in 2022, my parents tried to buy a house here and even offered $500k over asking, but still couldn’t get one. Now it seems like many homes are sitting on the market or even seeing price reductions, unless they are truly exceptional properties.
Areas like Kirkland, Sammamish, and Issaquah all seem to have more listings with price cuts, which makes it very tempting to buy. However, our immigration status is still not very stable, so we’ve been hesitant to move forward. Also, we’ve noticed that mortgage options seem more limited for people in our situation.
On the other hand, my wife works at a big tech company in the Bay Area, so we’ve also been considering buying there instead. Our parents are willing to help with part of the down payment.
At the same time, if we don’t buy now, we’re worried we might miss a good opportunity.
Would really appreciate any advice from people who have been in a similar situation—especially regarding:
Buying on F1-OPT/CPT
Seattle vs Bay Area market timing
Risk vs opportunity in the current market
Thanks in advance!