It sure did bring me down from the cloud quite a bit. I have mentally prepared for the stuff I will have to give up after taken on a house payment, but havent had a real feel to it. I will definitely do this little exercise sdduuuude suggested to see how it really feels to not have that money to spend….after June..there are too much good summer sale this month. In 6 month it’ll be end of year, who knows, maybe their price will drop lower to middle 300k.
I will get my excel spreadsheet out to do a 2 year plan rent&save vs buying as well to get some difference in $number as suggested by SD Realtor. I admit 400k townhouse is bit crazy for a single girl. The reason I was considering it is because 1. I liked the townhouse in sunset cove..well, at least the models (they looks so nice..perfect set for emotional first time buyers like me)2. They have 3 bed, each with its own bath. I plan to have roomates and it will be easy to rent out when room comes with its own bathroom…i think. Not quite sure how much room can rent out that area though, so it might not help as great as I hope on morgage payment.
I was also looking at those at Spectrum center in Kearny Mesa area. Actually liked that location even better, close to freeway and restaurants. Not as close to the bay, but so central. But they dont have sidebyside garage. So much harder to have roomates when parking is issue. Also 2bd 2bath is asking $360-380 on resale, thats even more crazy price compare wth this one.
I have seen lately in UTC area that some 2bd 2bath condo for around $300k or even lower. I was so happy to see price finally come down but they are mostly just small apartment converted condos where you have to walk far to your car, no garage and have neighbors all around. Not only left and right but also up and down. It’ll feel same as I live in apartment except I pay much more per month for it.
Sometimes I wonder at what price will it really worth to buy a place?
Oh, and now I am quite scared of HOA. Not just the fee..but the rules too. If I were to buy place, will I be also member of the HOA? Do I have a saying on what should or shouldnt be add as a rule? It shouds like HOA is more strict and scary than apartment leasing office.
