nocommonsense, unfortunately, not all of us are lucky enough to double our investment in 3 years and sell before the pull back. Also, dream house to me is just that, a dream. Maybe I just dream too big. My dream house is panoramic ocean view on a quiet cul-de-sac in excellent school area. But unfortunately, it’ll still a dream probably for the rest of my life, unless I win the lottery.
With only $100k/yr. income, we all have to make sacrifice and find the balance for us individually. What’s a right balance for me is not a right balance for you or others.
I totally agree with UCGal though. Do your research in the schools and don’t just listen to generalization of anyone area. Since 100k doesn’t go very far in SoCal, I chose to get a house in an area that’s 9/10th as good but at a price that 100-300k less. Which allows me the ability to live on one income so my wife can stay at home w/ the kid if she choose to w/out and worry about finances. I personally think have a stay at home parent who tutor the kids (in a school that’s 9/10th of the best) will yield a better result than both parents working and leaving it all up to the school even when the school is the best. No one know your kid better than you. Commute time is also huge for me, so 15 minute is the max I’d be comfortable with (regardless of everyday traffic).
I guess what I’m trying to say is, look past the generalization stigma against/for any one area and look at the data. Some area might surprise you and other might become not worth it to you.
