Expatriate from France to San Diego. Where and when to buy a home?

[34f3f3f]

Bonjour Edouard

Firstly, congratulations on your perfect written English, which makes me wonder whether perhaps you are not new to the US. As a fellow European, I can understand the difficulties with cultural issues concerning community and housing developments. The Roman town planning of “Il Centro” doesn’t exist here much, rather suburbia with emphasis on convenience pervades.

You have asked the right questions, and have come to the right place to ask them. As many have suggested, hold onto your Euros, and wait for house prices to come down. I am in the same situation. If the dollar starts to gain ground before house prices bottom out, I might be tempted to exchange at the best rate I can, and then sit on the dollars until I’m ready to buy.

I personally like Encinitas because it’s village-like, on the coast, with small restaurants and local wine. The areas just east of it towards Rancho Santa Fe (trop chere) is nice for a drive. You will be aware of the huge fires, and I believe there will an updated map of fire prone areas in 2008. This may be a consideration.

Although very expensive, La Jolla is nice, with swimmable beaches, restaurants perched on a cliff overlooking the sea, and a small community of shops. How much cheaper or what the areas next to it are like, I’m not certain, but having somewhere like La Jolla close by might make the transition smoother.

I have bumped into several French people living in San Diego, so perhaps there is an French association or club you could join, and ask your fellow countrymen’s advise.

[CardiffBaseball]

Speaking of Frenchmen, whatever happened to PerryChase?

[CardiffBaseball]

Speaking of Frenchmen, whatever happened to PerryChase?

[CardiffBaseball]

Speaking of Frenchmen, whatever happened to PerryChase?

[CardiffBaseball]

Speaking of Frenchmen, whatever happened to PerryChase?

[pbnative]

Welcome to San Diego! I loved Paris, and hope to go back someday soon.

Some info for you: I live in Pacific Beach, the town just south of La Jolla. Some people think of drunken fights when they think of PB, and that’s not wrong. There are lots of college students and lots of bars for them to drink and get drunk. But, if you are a few blocks north of Garnet Ave, on a single-family block, it can be very nice. The important part is the SF block, and that the next block isn’t condos/apartments — you want a few surrounding blocks of SF homes. We’re getting some great coffee shops and restaurants on the north-west end of PB (The Fishery is very good), and it’s definitely more relaxed than being near Garnet. One nice thing about lving south of UTC and your office, is that you would be close to downtown.

Other than PB, I have also lived in La Jolla, one block off the Cove. (And a year on a small island off the coast of Belize, but their real estate market is nuts.) I loved LJ, walking on the beach, diving at the cove, restaurants, coffee shops, book stores, etc. The scenery is inspiring. I might still be there, but I don’t like condos and can’t afford a SF house there. However, I met my husband while I lived there and he thought it was too pretentious and does not want to live there.

Also, my husband works in Solana Beach, which is just south of Encinitas, and we love to go to that area. It’s much more attractive than PB (I wish we handled our commercial areas like they do), and has a great vibe. It’s interesting, with good food and bookstores, etc., without the nose-in-the-air feel of a ‘new money’ area. The main annoyance there would be that commuting south is painful. Of course, if your commute in Paris was worse, maybe it wouldn’t phase you.

A side note: I bought my PB house in Oct ’03 (1 block from kate sessions, old house, 1375sf, $550k), and I’m fascinated to see whether I’ll be underwater at some point. Luckily I have no plan to sell, and also did very well with other real estate during the bubble, so I can’t complain for a second. But I’m very curious!

[I lurked here for a bit, first comment.]

[pbnative]

Welcome to San Diego! I loved Paris, and hope to go back someday soon.

Some info for you: I live in Pacific Beach, the town just south of La Jolla. Some people think of drunken fights when they think of PB, and that’s not wrong. There are lots of college students and lots of bars for them to drink and get drunk. But, if you are a few blocks north of Garnet Ave, on a single-family block, it can be very nice. The important part is the SF block, and that the next block isn’t condos/apartments — you want a few surrounding blocks of SF homes. We’re getting some great coffee shops and restaurants on the north-west end of PB (The Fishery is very good), and it’s definitely more relaxed than being near Garnet. One nice thing about lving south of UTC and your office, is that you would be close to downtown.

Other than PB, I have also lived in La Jolla, one block off the Cove. (And a year on a small island off the coast of Belize, but their real estate market is nuts.) I loved LJ, walking on the beach, diving at the cove, restaurants, coffee shops, book stores, etc. The scenery is inspiring. I might still be there, but I don’t like condos and can’t afford a SF house there. However, I met my husband while I lived there and he thought it was too pretentious and does not want to live there.

Also, my husband works in Solana Beach, which is just south of Encinitas, and we love to go to that area. It’s much more attractive than PB (I wish we handled our commercial areas like they do), and has a great vibe. It’s interesting, with good food and bookstores, etc., without the nose-in-the-air feel of a ‘new money’ area. The main annoyance there would be that commuting south is painful. Of course, if your commute in Paris was worse, maybe it wouldn’t phase you.

A side note: I bought my PB house in Oct ’03 (1 block from kate sessions, old house, 1375sf, $550k), and I’m fascinated to see whether I’ll be underwater at some point. Luckily I have no plan to sell, and also did very well with other real estate during the bubble, so I can’t complain for a second. But I’m very curious!

[I lurked here for a bit, first comment.]

[pbnative]

Welcome to San Diego! I loved Paris, and hope to go back someday soon.

Some info for you: I live in Pacific Beach, the town just south of La Jolla. Some people think of drunken fights when they think of PB, and that’s not wrong. There are lots of college students and lots of bars for them to drink and get drunk. But, if you are a few blocks north of Garnet Ave, on a single-family block, it can be very nice. The important part is the SF block, and that the next block isn’t condos/apartments — you want a few surrounding blocks of SF homes. We’re getting some great coffee shops and restaurants on the north-west end of PB (The Fishery is very good), and it’s definitely more relaxed than being near Garnet. One nice thing about lving south of UTC and your office, is that you would be close to downtown.

Other than PB, I have also lived in La Jolla, one block off the Cove. (And a year on a small island off the coast of Belize, but their real estate market is nuts.) I loved LJ, walking on the beach, diving at the cove, restaurants, coffee shops, book stores, etc. The scenery is inspiring. I might still be there, but I don’t like condos and can’t afford a SF house there. However, I met my husband while I lived there and he thought it was too pretentious and does not want to live there.

Also, my husband works in Solana Beach, which is just south of Encinitas, and we love to go to that area. It’s much more attractive than PB (I wish we handled our commercial areas like they do), and has a great vibe. It’s interesting, with good food and bookstores, etc., without the nose-in-the-air feel of a ‘new money’ area. The main annoyance there would be that commuting south is painful. Of course, if your commute in Paris was worse, maybe it wouldn’t phase you.

A side note: I bought my PB house in Oct ’03 (1 block from kate sessions, old house, 1375sf, $550k), and I’m fascinated to see whether I’ll be underwater at some point. Luckily I have no plan to sell, and also did very well with other real estate during the bubble, so I can’t complain for a second. But I’m very curious!

[I lurked here for a bit, first comment.]

[pbnative]

Welcome to San Diego! I loved Paris, and hope to go back someday soon.

Some info for you: I live in Pacific Beach, the town just south of La Jolla. Some people think of drunken fights when they think of PB, and that’s not wrong. There are lots of college students and lots of bars for them to drink and get drunk. But, if you are a few blocks north of Garnet Ave, on a single-family block, it can be very nice. The important part is the SF block, and that the next block isn’t condos/apartments — you want a few surrounding blocks of SF homes. We’re getting some great coffee shops and restaurants on the north-west end of PB (The Fishery is very good), and it’s definitely more relaxed than being near Garnet. One nice thing about lving south of UTC and your office, is that you would be close to downtown.

Other than PB, I have also lived in La Jolla, one block off the Cove. (And a year on a small island off the coast of Belize, but their real estate market is nuts.) I loved LJ, walking on the beach, diving at the cove, restaurants, coffee shops, book stores, etc. The scenery is inspiring. I might still be there, but I don’t like condos and can’t afford a SF house there. However, I met my husband while I lived there and he thought it was too pretentious and does not want to live there.

Also, my husband works in Solana Beach, which is just south of Encinitas, and we love to go to that area. It’s much more attractive than PB (I wish we handled our commercial areas like they do), and has a great vibe. It’s interesting, with good food and bookstores, etc., without the nose-in-the-air feel of a ‘new money’ area. The main annoyance there would be that commuting south is painful. Of course, if your commute in Paris was worse, maybe it wouldn’t phase you.

A side note: I bought my PB house in Oct ’03 (1 block from kate sessions, old house, 1375sf, $550k), and I’m fascinated to see whether I’ll be underwater at some point. Luckily I have no plan to sell, and also did very well with other real estate during the bubble, so I can’t complain for a second. But I’m very curious!

[I lurked here for a bit, first comment.]

[Anonymous]

I had to make a comment, being French myself. I moved to san Diego just over a year ago from NYC. I have been in the US for about 10 years, so I like to think I know the market relatively well.

My first advise is in line with everybody else: do not buy now.

Here are different remarks:

First, I am guessing you have an expatriate contract, which has a timeline associated to it. From the information you are giving, you may have a 3-year contract, which is the standard expat contract length. If you buy now, you will lose money when you try to sell your house at the end of your contract.

Secondly, you have never lived outside of France. You do not know if you will like living in the US. It is 1 thing to come on vacation. It is completely different when you live here. You may like it, but your wife or your kids may not like it. You probably do not know if you are here for the long run. If you are only here for 3 years, you are waisting your money

Third, you mention that your company will pay part of the interests if you buy a house. As you mentioned, you have no credit history, so you will not qualify for a loan, especially in the current environment. Why not negotiate that they subsidize part of your monthly rent, maybe $1,000. This will be less than what they would pay in interest, and this is a good deal for you.

Finally, keep the profit you made on your sale in Paris. You got out of the market on time. The real estate market in Europe is slowing down, there will be a contagion of the US decline all over the world. The real estate bubble was not an American thing, but happened in most markets.

I sold my place in NYC before moving to San Diego end of 06, made 30% profit in 2 years. I am now renting a place for 30% less in monthly payments than it would cost me to buy it.

[Anonymous]

I had to make a comment, being French myself. I moved to san Diego just over a year ago from NYC. I have been in the US for about 10 years, so I like to think I know the market relatively well.

My first advise is in line with everybody else: do not buy now.

Here are different remarks:

First, I am guessing you have an expatriate contract, which has a timeline associated to it. From the information you are giving, you may have a 3-year contract, which is the standard expat contract length. If you buy now, you will lose money when you try to sell your house at the end of your contract.

Secondly, you have never lived outside of France. You do not know if you will like living in the US. It is 1 thing to come on vacation. It is completely different when you live here. You may like it, but your wife or your kids may not like it. You probably do not know if you are here for the long run. If you are only here for 3 years, you are waisting your money

Third, you mention that your company will pay part of the interests if you buy a house. As you mentioned, you have no credit history, so you will not qualify for a loan, especially in the current environment. Why not negotiate that they subsidize part of your monthly rent, maybe $1,000. This will be less than what they would pay in interest, and this is a good deal for you.

Finally, keep the profit you made on your sale in Paris. You got out of the market on time. The real estate market in Europe is slowing down, there will be a contagion of the US decline all over the world. The real estate bubble was not an American thing, but happened in most markets.

I sold my place in NYC before moving to San Diego end of 06, made 30% profit in 2 years. I am now renting a place for 30% less in monthly payments than it would cost me to buy it.

[Anonymous]

I had to make a comment, being French myself. I moved to san Diego just over a year ago from NYC. I have been in the US for about 10 years, so I like to think I know the market relatively well.

My first advise is in line with everybody else: do not buy now.

Here are different remarks:

First, I am guessing you have an expatriate contract, which has a timeline associated to it. From the information you are giving, you may have a 3-year contract, which is the standard expat contract length. If you buy now, you will lose money when you try to sell your house at the end of your contract.

Secondly, you have never lived outside of France. You do not know if you will like living in the US. It is 1 thing to come on vacation. It is completely different when you live here. You may like it, but your wife or your kids may not like it. You probably do not know if you are here for the long run. If you are only here for 3 years, you are waisting your money

Third, you mention that your company will pay part of the interests if you buy a house. As you mentioned, you have no credit history, so you will not qualify for a loan, especially in the current environment. Why not negotiate that they subsidize part of your monthly rent, maybe $1,000. This will be less than what they would pay in interest, and this is a good deal for you.

Finally, keep the profit you made on your sale in Paris. You got out of the market on time. The real estate market in Europe is slowing down, there will be a contagion of the US decline all over the world. The real estate bubble was not an American thing, but happened in most markets.

I sold my place in NYC before moving to San Diego end of 06, made 30% profit in 2 years. I am now renting a place for 30% less in monthly payments than it would cost me to buy it.

[Anonymous]

I had to make a comment, being French myself. I moved to san Diego just over a year ago from NYC. I have been in the US for about 10 years, so I like to think I know the market relatively well.

My first advise is in line with everybody else: do not buy now.

Here are different remarks:

First, I am guessing you have an expatriate contract, which has a timeline associated to it. From the information you are giving, you may have a 3-year contract, which is the standard expat contract length. If you buy now, you will lose money when you try to sell your house at the end of your contract.

Secondly, you have never lived outside of France. You do not know if you will like living in the US. It is 1 thing to come on vacation. It is completely different when you live here. You may like it, but your wife or your kids may not like it. You probably do not know if you are here for the long run. If you are only here for 3 years, you are waisting your money

Third, you mention that your company will pay part of the interests if you buy a house. As you mentioned, you have no credit history, so you will not qualify for a loan, especially in the current environment. Why not negotiate that they subsidize part of your monthly rent, maybe $1,000. This will be less than what they would pay in interest, and this is a good deal for you.

Finally, keep the profit you made on your sale in Paris. You got out of the market on time. The real estate market in Europe is slowing down, there will be a contagion of the US decline all over the world. The real estate bubble was not an American thing, but happened in most markets.

I sold my place in NYC before moving to San Diego end of 06, made 30% profit in 2 years. I am now renting a place for 30% less in monthly payments than it would cost me to buy it.

[NotCranky]

Yes golfgal sometimes it does reach tragic proportions but really I think most of the “living to be seen” types are doing O.K. Otherwise, I wouldn’t poke fun. They must be doing better than the homeless? Sometimes I do wonder if it is not a close call.

[NotCranky]

Yes golfgal sometimes it does reach tragic proportions but really I think most of the “living to be seen” types are doing O.K. Otherwise, I wouldn’t poke fun. They must be doing better than the homeless? Sometimes I do wonder if it is not a close call.

[Author]

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