Can I afford to buy a foreclosed or short sale home in the San Diego area?
June 4th, 2010
I currently live in the Midwest, and my family is planning to relocate to the San Diego area within the next 2 years. Coming from the Midwest, where things are a lot less expensive, it is difficult for me to get used to the idea of paying California prices for a home! My husband and I both work in health care; he’s an x-ray tech, and I’m a nurse, so we are employable and not too broke, but not wealthy, either.
Anyway, my question is, if we have only about $200,000 to spend on a home, and we don’t need a lot (other than a reasonably safe neighborhood), would we be able to buy a foreclosure or short sale home? How would we locate these types of properties for sale?
Before anyone suggests living in an apartment, I need to point out that we have dogs and cats, so we need a yard we can fence. Also, we have 2 kids, so a family area would be nice.
Thanks!
To be perfectly honest with you…I would not buy a home there until I lived there at least a year. How do you know you’re going to actually like it? Hate to tell ya…but I was SOOO excited to move to Colorado. But after 6 months, I hated it. Can I tell you how happy I was I didn’t buy a house like I originally planned?
What seems like a great deal up front…could be a nightmare in the long run if you want to get out. LOTS of vacant houses right now for rent in San Diego. Just look it up on the internet.
June 5th, 2010 at 2:12 am
I would say, if you could find one, especially close to the beach and I had the money, I would in a heartbeat! I love San Diego!
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June 5th, 2010 at 2:31 am
To be perfectly honest with you…I would not buy a home there until I lived there at least a year. How do you know you’re going to actually like it? Hate to tell ya…but I was SOOO excited to move to Colorado. But after 6 months, I hated it. Can I tell you how happy I was I didn’t buy a house like I originally planned?
What seems like a great deal up front…could be a nightmare in the long run if you want to get out. LOTS of vacant houses right now for rent in San Diego. Just look it up on the internet.
References :
June 5th, 2010 at 2:57 am
I would say "yes" as there are so many houses for sale in CA right now. Keep your eye on foreclosure deals and you’ll find a good deal for you, that’s for sure!
References :
http://www.relogic.com
June 5th, 2010 at 3:07 am
I live in San Diego (well, have a house there). You’re NOT going to be "in" San Diego for $200k. You’ll have to be east or north county (or temecula). Even then, for $200k you’re going to get something very small.
My brother just bought a small condo in an area I would never be willing to live. He paid $260k and that’s todays "low" prices. It’s 2bd and about 900sq./ft.
Southern California prices have fallen but they’re still crazy high.
Get an agent to send you some stuff BEFORE you move out. But I’d STRONGLY suggesting living in an apartment (get one that will fit you) for 6 months so you can get an idea of where you’d be willing to live.
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