[quote=UCGal]I vote townhouse. If you have children you don’t want a long commute keeping you away from them during their waking hours…[/quote]
[quote=paramount]Townhouse.[/quote]
HOA dues of $200 mo ++, especially combined with MR of $250-$400 mo on a “townhouse” literally KILLS the budget of young families just like this one! These are the prime reasons for foreclosure/short sale and walkaways of FTB’s, IMO.
Another problem is that if they purchase a townhouse, $200-$600 per month of their housing expense will NOT be used to pay down the principal of their mortgage and help them build equity. In addition, townhouses and condos have historically not appreciated at anywhere near the same rate as SFR’s, making it harder for a FTB such as the OP to “move up” when they can qualify for a larger mortgage. Thirdly, they would be subject to “special assessments” of thousands of dollars, especially in complexes over 20 years old.
I understand that the townhouses in the areas mentioned are more conveniently located to the OP’s work, but LM (91941) isn’t more than 15 to 25 mins to Tierrasanta, depending on traffic. It’s not like it’s a long commute. It’s certainly worth considering.
The trick will be to find a property that will work for a family of 5 which doesn’t need too much cash outlay in repairs for at least the first year of ownership. The average age of an SFR in 91941 is about 55-60 years old. If this buyer wants an SFR of =>1500 sf, they may have to be patient, handy or both. If they are, it will be well worth it for them to try to get one of these well-built gems while the mtg rates are this low, IMHO.
SDEaves, last weekend LM Village hosted their their biggest event of the year, their annual Oktoberfest.
Since you can find parking now :), why don’t you take your kids over there to look inside the “real” (parked) locomotive and take some pictures of them on it. Then walk up and down LM Blvd and check out the antique stores and consignment shops. You’ll find plenty of places to eat there, as well. If you have time, walk up and down Date Ave, at least a couple of blocks. You will be amazed at the 100+ year-old date trees lining both sides of the street! The trolley runs through there as well, right alongside the train tracks. There are lesser-expensive streets just west of Windsor Hill (less than a mile west of the village and just east of the SD/LM border) and also south of that historic area in the area served by La Mesa Dale Elem (also a good school). Overall, it is a nice place for kids to grow up in.
Hopefully there is some current inventory over there to view. I haven’t looked in awhile.
