To be clear, I’m not looking for an investment, I’m looking for a place to raise my kids for the next 15 years. I don’t want to move around anymore. (Currently living in Spain – living overseas isn’t as glamorous as it sounds, kinda stinks actually.)
I wish wish wish I could live out of state and avoid Jerry brown’s anti-business measures. I wish I could find peace and happiness in Nevada or Texas. But i just love love love California. (many reasons but I don’t need to get into it.)
Again, I just want to settle down and have a home with some land and great people around and enjoy the weather 🙂 [and maybe some chickens… 😉 ][/quote]
Kishy,
I totally agree with you that living abroad isn’t as glamorous as it may sound. Yeah, there are upsides but lots of downsides, especially in places like Spain where there is HUGE inefficiency if you’re used to a place like the USA where everything is very efficient, transparent (for the most part) and life is very easy.
In many places probably including Spain, you can kill LOTS of time just going to the post office, grocery store, bank, etc. It’s like getting your teeth pulled out to me!
I also lived abroad for many years and while I did enjoy many aspects, I was VERY happy to move back to the USA so I understand what you mean.
Like you, I didn’t really look at my home purchase as an “investment” per se. I looked at it as a home where I’d raise my kids for the next 15 years or so.
I’ve been to all those places you mentioned many times and I agree with you that San Diego is absolutely the BEST option. The quality of life here is truly incredible if you can comfortably afford it. (And it sounds like you definitely can so San Diego would be ideal for you. It’s a GREAT place to raise kids).
And actually besides real estate (and income taxes) the cost of living isn’t too much more than many other places. I was pleasantly surprised as well how more more affordable the utilities (with the exception of water is). Since the weather is so great, you don’t spend nearly as much on electricity/gas as other cities. Places like Austin had over 40+ days of 100+ degree weather last year. Just horrible.
Many other things like automobile insurance was much cheaper here in San Diego vs. other places. The only thing really more noticeably more expensive is real estate.
I had a lot of similarities as you and motivations for purchase however, I didn’t need chickens. LOL. I chose Santaluz and really LOVE living here. It’s totally blown away all expectations I had about the place.
We looked at a few properties in Rancho Santa Fe and based on what you wrote, that might be a great option as well. Our maximum budget was around 1.5 million so you have an extra million to spend. (and you will definitely need it if you’re looking in Rancho Santa Fe as it’s quite pricey, especially if you want a good plot of land).
This entire area is really excellent! Personally, I wouldn’t want to be too far out like some of the places people mentioned. The school district is really great here and we don’t buying here for a second!
You’re going to LOVE San Diego! The quality of life here is simply incredible.
[quote=no_such_reality]
Actually, he needs to seriously consider capital preservation.
By living out of state, he can avoid the inevitable tax grabs that are coming in California and reap the benefits by renting here.[/quote]
Something tells me that he doesn’t really have to worry about capital preservation. There are many people out there no matter how cheap interest rates are, like the feeling of having their primary residence paid off free and clear with no mortgage.
Safe investments aren’t paying anything right now and many people are already invested in the stock market (or don’t want anymore). Or own other real estate or another business that is spinning off dependable cash flow.
It doesn’t sound like the OP is too worried about capital preservation or at least has enough reserves for that. 🙂
