Yeah, I figured that probably my screen name gave the wrong idea of my age..that’s why I mentioned it. I realize we’re not in the typical situation for our ages. Just lots of hard work over the years and a few successful companies (one of which I just sold to a larger multinational company).
Yeah, we will most likely stick around in the home we buy for 15+ years. We might have another child but that would be it. The property I listed in La Jolla is GORGEOUS and the style that I like. The materials look really great inside.
You’re right renovations are a pain! I’ve even done complete from scratch custom home builds for investors in the past and not sure how I survived! Ha ha. I always say, “never again”.
But properties like that in La Jolla I’m finding aren’t so easy to find and I really don’t want to go past our budget. I’m not as sure as you that the house in Muirlands will sell for within $100,000 of asking price. They just lowered the price it looks yesterday.
The extra yard space is nice but not a necessity for us. But I agree it’s GREAT that there aren’t any MR fees there. The schools are also great in La Jolla but it’s difficult to find a house that is renovated with the style we like for our budget in La Jolla.
I know that La Jolla will ALWAYS be desirable in the future so that part appeals to us.
I agree with you that even higher end areas like Santaluz can go downhill but I don’t see that as a high likelihood but I agree with you that La Jolla is a much more desirable area. Just an expensive area per sq. foot.
Again, I’m not too concerned about future capital appreciation. Sure I’d love to sell it higher once we sell it but it’s so far out I don’t really even think about that aspect of the investment as a primary concern right now. So many difficulties with the USA right now..hard to say what will happen in the next 15 years.
Fortunately we are fairly well diversified including owning properties outside of the USA. So if the crap really hits the fan, we have residency status in other countries. Our kids hold 3 passports from 3 different countries including USA passports.
Ideally we want at least 3,500 sq. foot which will be really tough in LJ for our price range in the condition we want.
