First of all, I’m new here…I came across Piggington.com after someone posted a “gloom and doom” post on Craigslist against buying a house due to the inflated housing prices. I’ve found the posts quite interesting so far and I am glad I did not buy last year when my real estate agent (a friend) wanted me to.
I agree on not wanting to stay in a 1-bedroom forever. For myself, it would not work anyway — I only make 50K a year, and after all expenses I only have about $1,300 left for housing. Right now I only pay 900 a month for a 2BR/1BA apartment in North Park, and I have a roommate who pays half the rent so I’m pretty comfortable. However, most of the 2BR/2BA places I have found run about 1700/month after mortgage, HOA, and PMI (have less than 20% saved up to put down) are accounted for. Obviously, I need a 2nd bedroom for my roommate and/or for future expansion. 🙂
Is the tax break for a single person really that great for the mortgage interest deduction compared to just taking the personal deduction? I don’t get to itemize anything else.
However, prices look to be getting down to the 200K mark which I think i could afford….150K for a 2BR and I could absolutely afford it based on payment calculations. I’ve thought about moving out of state to be with family in Oregon who moved there recently but am worried I will be priced out of San Diego if I try to come back later.
Okay sorry for getting off topic. Just noticing prices getting lower!
