[quote=Navydoc]BG, you clearly don’t know my wife do you?
Seriously though, you are certainly correct when you say any property can be made exactly the way you want it, but the hassle involved with that approach can be extraordinary. It’s ok if you don’t mind, but if one of the spouses doesn’t want to live in a partially renovated house with the dust, the constant debris, the noise and the smells, we could be talking divorce at some point. I renovated my basement myself here in Maryland, and it IS exactly the way I wanted it (going to miss my ultimate man cave), but the only way I could pull it off was that my wife never went down there to see the mess. She would just get to see her husband covered with drywall dust and would say “I’ll see it when your done.” Now, maybe you think my wife is a spoiled princess, but I assure you she’s not, and that the hassles of renovation are clearly not for everyone. Add to the fact that you may not recoup half of your renovation expenses when it comes time to sell, so how is that different from depreciation on a new house? And why do you say that all the best locations are already built? I happen to love the wide open feel of the Stonebridge community, and especially love the sizes of the yards. I can’t think of any community within a 30 minute commute to Balboa that looks/feels this way, regardless of age. 4S is similar, and that is a consideration, but there are few areas even in 4S that can boast a 3/4 acre yard. Ivy Gate is one, but the HOA’s and Mello Roos are just as bad as Stonebridge. If a yard that large is something your not interested in, then don’t disdain my choice for wanting one. I’m currently living on 1.25 acres and squeezing onto an 8000 sq ft lot in Carmel Valley or some of the 4S communities is not that appealing to me. Oh, you mentioned warmth. Right now as I type this it’s 103 degrees outside with 94% humidity. do you really think the heat ANYWHERE in San Diego is going to compare to the D/C area? And I don’t have to bring my snowblower either.
Folks on this board know I’ve been here for quite a while, and I’ve researched the San Diego real estate market as much or more than some professional realtors. Hell, I moved here 2 years ago and still read this board every day. I’ve simply come to the conclusion that a new home fits our wants and needs the best. I told you my psychology for wanting a new home was stupid, but since I have the means why can’t I have one?[/quote]
Lol, Navydoc, you can have any home you can afford! I don’t “disdain” anyone’s choice. I am merely of the opinion that new construction is overpriced and over-encumbered (MR/HOA), especially for a growing family whose income may go down in the future.
I DID state that the prospective “fixer” property’s location had to bear the purchase price PLUS costs of remodeling and/or needed repairs. The decision to undergo a partial or complete remodel is all contingent upon the property location, the sales price agreed upon at the time of offer acceptance and the potential value (that will hold) AFTER the remodel is completed. Many desirable established areas have a track record of holding their values in all economic climates. Not so with unproven far-flung newer exurbs.
Yes, the drywall dust can be a lot of live with while the mud/texturing is going on, but totally WORTH it for the end result and VERY rewarding! The trick is to not move in a bunch of “stuff” while still rehabbing the property. Just the essentials of life. Most new buyers no doubt want to immediately move into every room and begin “decorating.” You can’t do that right away with a fixer slated for a remodel.
Navydoc, just for fun, take a look at active SFR resales in 92019, 91941, 92107, 92103, 91902 and even 92102 and 92106. ALL of these zips have properties on larger lots (14K to 1 AC) in your price range and ALL are closer to Naval Hospital than Stonebridge (two are VERY close). These are among the city and county’s most coveted areas with which to live.
For the record, I’m an “ex-navy wife” myself. I understand you will likely be “on-call.” I was a “Balboa widow” as far back as when shower curtains lined the patient “cubicles” in the maternity ward (no walls or partitions) and the “pharmacy” was on a bus stop outside (sans rain shelter)! How far away do you want to be when you need to get to the hospital ASAP? How much aggravation do you want to put up with on a daily basis with commuting? You may have already asked yourself those questions. If so, factor in the extra gas to go to/from work in the middle of the night or on a day off, say 4x per week and all your extra time away from your family duking it out with rush-hour commuters before making your decision on area to buy in.
I’ll bet if you ask some of the docs already stationed there, you will find that MANY live within a 10 minute drive to the hospital.
