Home Owners Thread

[exitspeed]

Originally Posted by ZenkiKid

Youre telling me.

My Fiancee and I were bummed once we crunched the numbers and realized it. We probably woudlve been able to make it work but it wouldve been tight. $3100/month for a townhome seems outrageous.

California is extremely unobtainable for the middle class.

Im 2 months away from turning 29 and I cant even move out of my parents house. The idea of leaving the state is becoming more and more of a reality.

Im just glad that if me and the fiancee do stick around and tough it out for 1 more year that the new governor coming in is going to work towards putting a stop to all of this madness.

You know things are bad when a tech giant like Apple is slowly starting to grow and move its development out of California to the PNW.

That madness isn’t going to stop any time soon. It’s aad that even the middle class can’t make it there.

This is one of the reasons my wife and I stay put. We can move anywhere in the country with both of our jobs, but we choose to stay living in WI. We’re fortunate to both travel for work (my wife worked in Midtown Manhattan for 3 years and flew there every week. I’ve worked in 7 states in the last two months) so we get to see the country. I LOVE the east coast but I can’t see moving there.

[Bluejayde]

Originally Posted by Dolph_KYAS13

You paid three hundred thousand dollars for that tiny house?!? So glad I don't live in a major city, that shit is bananas.

I own a fairly small home (3bed, 2 bath), built in 2005 on a 1/2 acre or so and it cost 116K.

[JrDarknes]

Originally Posted by ZenkiKid

California is extremely unobtainable for the middle class.

Im 2 months away from turning 29 and I cant even move out of my parents house. The idea of leaving the state is becoming more and more of a reality.

Uggghhh things like this keep making me think twice before moving down there.

[ZenkiKid]

Originally Posted by exitspeed

That madness isn’t going to stop any time soon. It’s aad that even the middle class can’t make it there.

Yeah dude.

My Fiancee and I easily clear 6 figures combined and theres no fucking way were gonna spend $2K + a month on some shithole to rent. Id rather stay put.

Weve contemplated moving more inland (Riverside. Im currently in San Diego) to where its more cheaper but I need to find a new gig first before I can get that ball rolling.

[Dolph_KYAS13]

Originally Posted by Bluejayde

You paid three hundred thousand dollars for that tiny house?!? So glad I don't live in a major city, that shit is bananas.

I own a fairly small home (3bed, 2 bath), built in 2005 on a 1/2 acre or so and it cost 116K.

Yep. Its insane. I used to live out in the country when I was growing up and houses were more in line with what you paid. There just wasnt any work for me out there.

Keep in mind that was 5 years ago. Now detached homes around Toronto are MINIMUM 5-600K and condos start at around 350-400K. Its absolutely insane. we are extremely fortunate we got into the market when we did.

On the plus side is that my wifes commute is 12 minutes on a bad day and mine is in around 25 minutes.

I would pay a premium to not ever have to commute day to day. I dont know how people do it. We are commuting into the city while the renos are happining and it takes a definite toll on you.

[Dutchmalmiss]

Yeah, single-family homes were a requirement in my search. I did not want HOA fees. Covina (closer to the 10) is where I ended up. Although my commute is about 20 mins further, it's a small trade off for the place the fiancee and I landed. My search started in Jul'17 too.

If you wanna live in a "favorable" central area in SoCal, you gotta be a celebrity basically.

[K_style]

Bought mine in San Jose 2 years ago while shitting bricks...

Built in 1965, 1700sqf $650k. as of today, it is estimated at $840.
CA is crazy. I mean just crazy.

[Pblesh85]

Bought my first home last August.

3 bed
2.5 bath
2 car plus garage with 10x10 addition
3200sqft
Half acre on water
Non HOA
All custom homes in neighborhood
Tacoma city limits in a nice neighborhood

Bought for 350k and already up to 395k.


I’m happy with it. Only going to go up from here.

[exitspeed]

Met with the Architect for the second time yesterday. Some great ideas on the floor plan. Going back to the drawing board for some tweaks.

First rough sketch.

[Dolph_KYAS13]

Originally Posted by exitspeed

Met with the Architect for the second time yesterday. Some great ideas on the floor plan. Going back to the drawing board for some tweaks.

First rough sketch.

I am assuming the portion of the house on the left is original and the addition would be the garage and area above it?

[exitspeed]

Originally Posted by Dolph_KYAS13

I am assuming the portion of the house on the left is original and the addition would be the garage and area above it?

So the garage section on the right is there currently but it’s only a 2 car garage. Also the current garage door is on the side of the house. Above all that space is currently nothing but an attic. So all that area (essentially a 3 car garage size) will be a master suite. That’s the main objective of the remodel, add a master suite. In addition the kitchen will be re-redone and all the walls will be blown out to open things up. A new mud room and bathroom will be added as well. Plus the basement will be finished off with a bar, pool table (something I’ve always wanted) and theater.

Here's the current layout.

[pacotaco345]

I bought a house in Rosamond, CA (think Willow Springs) at the beginning of 2016.. 1516 sq ft for 170k. Now zillow has it estimated at 225 and climbing every day. I'm currently stationed at Edwards AFB and should be PCSing somewhere else before the end of the year. I plan to list it for sale as soon as I have orders, its great that the house's value continues to climb but I have nightmares of the market falling out from under me overnight. Home ownership is scary

[exitspeed]

There isn’t another real estate bubble right now, there’s a strong economy driving home sales. There’s a big difference between the market now and back in the mid 00’s. The main difference is what made the bubble. The bubble was created by banks approving ANYONE wanting to buy a home, putting many millions of people into homes they couldn’t afford. No money to put down? Fuck it, you’re approved? Credit been shot your whole life but you think you can handle a mortgage? Fuck it, you’re approved. You want to look like a Dom P house but your income says you drink PBR? Fuck it, you’re approved.

Trust me, I lived through that shit. My wife was a top real estate agent in the state at the time and I worked at the Corp office of the largest realtor in the state. I saw all this shot first hand and felt it first hand.

Sure they’ve let up a LITTLE, but it’s nothing NOTHING like it was then. People’s incomes and the strong economic outlook are driving prices right now, not unqualified buyers.

Yes, there will probably be some sort of “recession” and value “correction” in the next 18-36 months but it’s not going to be like the 00’s. And keep in mind this is all dependent on the Fed raising rates. How high are they going to go and will it go back down if it tanks the market?!? More than likely.

[fliprayzin240sx]

Originally Posted by ZenkiKid

Yeah dude.

My Fiancee and I easily clear 6 figures combined and theres no fucking way were gonna spend $2K + a month on some shithole to rent. Id rather stay put.

Weve contemplated moving more inland (Riverside. Im currently in San Diego) to where its more cheaper but I need to find a new gig first before I can get that ball rolling.

My parents bought a house in Temecula back in 98 for $160K and then sold it in 04 when my dad retired for $320. I can only imagine how much that house is now.

I have friends who are stationed in Coronado and they live all the way in Murrieta since thats all they can afford. I can't even imagine how that drive is to work every day...

Originally Posted by K_style

Bought mine in San Jose 2 years ago while shitting bricks...

Built in 1965, 1700sqf $650k. as of today, it is estimated at $840.
CA is crazy. I mean just crazy.

My wife's sister is still living at home out in Hercules. Between her and her husband, they probably make $80K a year. They can't find a place they can afford in the northbay since at a minimum, they're atleast $450K.

There's a reason why I'd never live in CA. I cant deal with the housing and fuck you guys' bridge tolls. Heard that shit went up another $1 in the last couple of weeks. I'm gonna retire and stay in Tampa, built a brand new 2600 sq/ft $272K house with 3 car garage, $40 HOA, $890 insurance/yr and $3200 property tax. I got no reason to wanna go back to Cali.

Originally Posted by pacotaco345

I bought a house in Rosamond, CA (think Willow Springs) at the beginning of 2016.. 1516 sq ft for 170k. Now zillow has it estimated at 225 and climbing every day. I'm currently stationed at Edwards AFB and should be PCSing somewhere else before the end of the year. I plan to list it for sale as soon as I have orders, its great that the house's value continues to climb but I have nightmares of the market falling out from under me overnight. Home ownership is scary

Nobody wants to live out there...
Lived in Lancaster when my dad was working at Edwards.

[exitspeed]

Yeah I was under the impression that $100k in LA was basically poverty. That’s the poverty line if you live in Manhattan.

[fliprayzin240sx]

Originally Posted by ZenkiKid

Came REALLY close to getting the ball rolling on buying a townhome in a newly developed area here in San Diego until I realized that HOA and MeloRoos adds about $1k to the mortgage.

So much for that.

Fuck that, I can't deal with CDD/Meloroos. County or developers should pay for that shit, but instead, they pass the buck to the homeowners. It got pretty bad out here in FL with that crap. Couple places I looked at had anywhere between $210-280 in CDD & HOA. Thats alot of buying power that I would waste. For that extra amount, I could have bought a $350-400K house vs $270K.

[fliprayzin240sx]

Originally Posted by exitspeed

Met with the Architect for the second time yesterday. Some great ideas on the floor plan. Going back to the drawing board for some tweaks.

First rough sketch.

Mel, what’s the plan for the space above the garage? Is that going to be storage, high ceiling garage for lifts or actual livable space?

[exitspeed]

Originally Posted by fliprayzin240sx

Mel, what’s the plan for the space above the garage? Is that going to be storage, high ceiling garage for lifts or actual livable space?

That’s going to be the entire master suite. About 1000 sq ft for the bedroom, bathroom (soaking tub with chandelier, stay up multi head shower, double vanity, seating area, etc), and closet with island. I’ll share the new plans when I get them later this week.

I’d love to do a lift but it’s just not practical. I am getting a third garage space though (my idea actually) so I can get a sports car again finally.

[fliprayzin240sx]

Master Suite over the garage?!?! Here's my architectural input...

[ZenkiKid]

Originally Posted by exitspeed

Yes, there will probably be some sort of “recession” and value “correction” in the next 18-36 months but it’s not going to be like the 00’s. And keep in mind this is all dependent on the Fed raising rates. How high are they going to go and will it go back down if it tanks the market?!? More than likely.

Yup. This is what I am expecting too. We are going to enter some sort of recession in a year or 2 but it wont do much to the market except correct things.

People expecting for houses to hit rock bottom like the late 00's are going to have their hearts broken.

My realtor is actually a friend of mine since Jr high and she herself even said that if you can afford it right now do it if not then wait.

[ZenkiKid]

Originally Posted by fliprayzin240sx

I have friends who are stationed in Coronado and they live all the way in Murrieta since thats all they can afford. I can't even imagine how that drive is to work every day...



My wife's sister is still living at home out in Hercules. Between her and her husband, they probably make $80K a year. They can't find a place they can afford in the northbay since at a minimum, they're atleast $450K.

Im currently a government employee in Downtown San Diego but am trying to find something in Escondido at the very least. That way if and when I buy a place in temecula my drive would be an hour at worst.

Yeah man. I can relate to your SIL and her husband. My fiancee and I easily clear 6 figures combined and cant afford shit here in San Diego. Its sad.

Luckily temecula is still very much affordable. I honestly predict Temecula and Murrieta wont shoot up in price for another 10-20 years. Theyre really developed up there now but still have a bit of a ways to go.

[Dolph_KYAS13]

Originally Posted by exitspeed

I’d love to do a lift but it’s just not practical. I am getting a third garage space though (my idea actually) so I can get a sports car again finally.

My plan is going to get a set of maxjax. The ceilings in our garage are going to be around 11ft which is more than enough but not enough for a standard 2 post.

Its a bit of a compromise but so far i've read great things about them and they fit the budget. beats rolling around on the ground


Passed by our place last night and they have the footings / walls all done for the garage.

[exitspeed]

^
Gotta be exciting.

[Dolph_KYAS13]

Originally Posted by exitspeed

^
Gotta be exciting.

It sure is.

There was a time where we got so caught up in red tape by the city that I didnt think it would ever happen.

[fliprayzin240sx]

Originally Posted by ZenkiKid

Im currently a government employee in Downtown San Diego but am trying to find something in Escondido at the very least. That way if and when I buy a place in temecula my drive would be an hour at worst.

Yeah man. I can relate to your SIL and her husband. My fiancee and I easily clear 6 figures combined and cant afford shit here in San Diego. Its sad.

Luckily temecula is still very much affordable. I honestly predict Temecula and Murrieta wont shoot up in price for another 10-20 years. Theyre really developed up there now but still have a bit of a ways to go.

I'm hearing folks are starting to get priced out of Temecula and Murrieta too. People are further up the freeway into Lake Elsinore and Menifee/Sun City.

But out of curiosity, have you looked into Ramona? Not sure how much development they've done there or how expensive it is there now since I havent lived in socal since 2001.

Speaking of that part of Socal, anybody heard from Lisa and Kevin? Last I heard from them, they were living in Hemet.

[ZenkiKid]

Originally Posted by fliprayzin240sx

I'm hearing folks are starting to get priced out of Temecula and Murrieta too. People are further up the freeway into Lake Elsinore and Menifee/Sun City.

I dont think people are getting priced out yet. I think theyd rather go into Lake Elsinore or Menifee so they can get even more for their money than they could in temec.

Single story homes up there are still super cheap and 2 story ones are still affordable up in Temec IMO.

[tricky_ab]

Originally Posted by Dolph_KYAS13

My plan is going to get a set of maxjax. The ceilings in our garage are going to be around 11ft which is more than enough but not enough for a standard 2 post.

Its a bit of a compromise but so far i've read great things about them and they fit the budget. beats rolling around on the ground

THIS!!! It's the absolute WORST working on the cold garage floor during the winter. I'd take one in a heartbeat.

[pacotaco345]

I don't feel like going through and quoting all the SD and Temecula posts, so I'll just type it out..

My Dad's first house was a little shithole 2 bedroom with detached garage in Lemon Grove (kinda shitty part of San Diego), I think he bought it for somewhere in the 100s back in 1990, sold that place for $350K in 2002 and we bought a house in Temecula for $240K.

Fast forward through the housing crisis, I think that place was worth about $400K at most, then down to about $180K, and now somewhere in the low-mid 300s. My dad commuted back and forth to work in Coronado for 10 years til he took a job overseas and started renting the place out.

I went to college in Ft Worth in 2011, and houses were affordable, but now just 7 years later those have doubled in price too.

Now I live in Rosamond where houses are relatively cheap but the surrounding area looks like the surface of Mars, my girlfriend lives in Phoenix and owns her house out there, and I'm up for orders trying to get stationed in Shreveport so I can start setting the stage to separate and move back to Ft Worth.

Combined we easily clear $150K/yr, so I know we'll be able to get into something decent, especially if we sold both the houses we have now, but I'm worried about where the market is gonna be in DFW 3-4 years from now when I'm ready to buy again. I wish I woulda done stupid like bought a house my freshman year of college.

[exitspeed]

Originally Posted by pacotaco345

Combined we easily clear $150K/yr,

I’m always curious to hear what people make in other parts of the country. Is that middle class or upper middle?

This should just be called the Growns Folks Thread.

[Dolph_KYAS13]

Originally Posted by exitspeed

Growns Folks Thread.

Pretty much. Its cool to see everyone grow up and get houses and stuff.