what is your thoughts on apartments for someone 24-28 years old to rent an apartment in either point Loma, pacific beach, or in downtown san diego. Job would be in a hospital or long term care facility. apartment costs? Walking commute?
Newer agent here, been out here for a while and I am considering selling my place in Chula Vista. My worry is that the new development at the Marina will cause Chula to explode. I know predictions are tough, but any long term thoughts on the Chula/SD market. I don't want to let this place go or the interest but we will do what we have too.
Ultimately you are going to need to do what's best for you now. The truth is most people cannot afford multiple CA mortgages. Of course prices could get very high in the future, but it could easily take 10-15+ years to see that appreciation happen due to the developments. If you have the ability to hang onto the home maybe you should consider keeping it as an investment, but if you can't I wouldn't sweat it.
Are you asking if you should wait because a $1.2 million home today will be worth $1 million in the future? Honestly, the market is brutal right now for buyers. I just got an update on a home I saw with clients over the weekend. They had over 125 groups view the home over the weekend, and will undoubtedly get 20+ offers and sell for at least $150k over asking price. This is the least amount of homes for sale this time of year, and it's only getting worse. Through the rest of the year we will see prices continue to rise, so if I were in your shoes I'd look to buy soon if given the choice. And if rates start coming down demand is only going to get worse. But yes as others mentioned, don't max out your preapproval amount. $1.5 preapproval and looking for a $1.2 million home seems reasonable.
8:41 of free valuable content & information Thanks Dan! we will be in SD all next week checking out a few neighborhoods we have yet to visit.
Thanks so much Ross! And I hope you have a blast out here.
@@DanPBestLifeSD visited normal heights & Kensington today! thats our new fave areas.
Child care was $2,000 per child per month in Mira Mesa for places we asked.
what is your thoughts on apartments for someone 24-28 years old to rent an apartment in either point Loma, pacific beach, or in downtown san diego. Job would be in a hospital or long term care facility. apartment costs? Walking commute?
Newer agent here, been out here for a while and I am considering selling my place in Chula Vista. My worry is that the new development at the Marina will cause Chula to explode. I know predictions are tough, but any long term thoughts on the Chula/SD market. I don't want to let this place go or the interest but we will do what we have too.
Ultimately you are going to need to do what's best for you now. The truth is most people cannot afford multiple CA mortgages. Of course prices could get very high in the future, but it could easily take 10-15+ years to see that appreciation happen due to the developments. If you have the ability to hang onto the home maybe you should consider keeping it as an investment, but if you can't I wouldn't sweat it.
Question of our time: I'm pre approved for $1.5M, should I buy now at $1.2M or wait see if I can buy later at $1M?
Never go by what you are approved for. Make a budget and reserve 15% of your income for misc non-fun expenses. Bump that up to 20% if you have kids.
Are you asking if you should wait because a $1.2 million home today will be worth $1 million in the future?
Honestly, the market is brutal right now for buyers. I just got an update on a home I saw with clients over the weekend. They had over 125 groups view the home over the weekend, and will undoubtedly get 20+ offers and sell for at least $150k over asking price. This is the least amount of homes for sale this time of year, and it's only getting worse. Through the rest of the year we will see prices continue to rise, so if I were in your shoes I'd look to buy soon if given the choice. And if rates start coming down demand is only going to get worse.
But yes as others mentioned, don't max out your preapproval amount. $1.5 preapproval and looking for a $1.2 million home seems reasonable.