[quote=Essbee][quote=bearishgurl]I understand from your post that you had two additions to your family while living in your last house. I personally don’t see SFR’s in SD County going up appreciably (if at all) in the next two years. I also don’t see a big mtg interest-rate spike in the next two years but I could be wrong on this :={
Thanks for any insight you can shed here![/quote]
OK, why not?
Recently sold for $560K
SFR, 3 bdrm/2.5 bath, 2 car gar, 2 story
1800 sf
10000 sf lot
30 years old
7 miles from work
Recently bought for $800K
SFR, 6 bdrm/4.5 bath, 3 car gar, 2 story
3800 sf
7000? sf lot (can’t remember exactly)
9 years old
16 miles from work
I will miss the 10000 sf lot on the first house, which is quite lovely and certainly helped it maintain its value, but the overall feel of the neighborhood, etc, is much better for house #2.
(P.S. The “man/woman cave” (exercise room) is going to be in house #2.)[/quote]
Thanks, Essbee. Congratulations on your new purchase!
Often, buyers “state” they want to “move up” but in reality they instead end up paying a LOT more $$ for about the same size house & MUCH less lot in an inferior location to the old one, just to get newer construction. It seems here that you really did “move up” size-wise. That’s a HUGE house that should last you a VERY long time (no matter how big your family or extended family becomes)!
Due to the fact that 3800 sf homes are VERY hard to find at ANY price range in 30+ yo (or even 20+ yo) neighborhoods in SD Co (ESP under $1M), you likely would not have been able to find that type of home in more convenient older areas in your price range.
And because of the big price difference between your old and new home, we can now see why you wanted to get in ASAP at the very lowest possible interest rate.
You didn’t do too bad commute-wise for the size tradeoff, either. Would you say it’s an additional 15-20 mins each way?
