Starter home or condo in Encinitas

[sdrealtor]

The VP homes are only about 1200 sq ft while there are 3BR townhomes between 1400 and 2100 sq ft for less. The bigger ones also tend to be in better elementary school boundaries. We were in the same boat a decade ago and went the townhome and had our first child there. If we were still there it would have been fine. My only regret is not holding onto it when we mved up as it would be cash flow positive by about $1000/month today for us as a rental.

You wouldnt want to live on Lake and I shop mainly at Stater Bros myself. I just cant stand their deli counter which I’m sure you understand.

[an]

a tent

Wow, didn’t know mobile home is that low on the property ladder :-).

[an]

a tent

Wow, didn’t know mobile home is that low on the property ladder :-).

[hawk]

Seriously…in terms of housing types, there are not that many different types of housing, but most of the population would MUCH rather live in a condo then a mobile home. Even though I am frugal and have a desire to lower my housing costs I don’t think I would ever live in a mobile home. The rent would have to be pretty darn low.

[hawk]

Seriously…in terms of housing types, there are not that many different types of housing, but most of the population would MUCH rather live in a condo then a mobile home. Even though I am frugal and have a desire to lower my housing costs I don’t think I would ever live in a mobile home. The rent would have to be pretty darn low.

[ibjames]

I’m in the same boat as you hawk, I would love to live in that area, but it seems like the odds are against me.

[ibjames]

I’m in the same boat as you hawk, I would love to live in that area, but it seems like the odds are against me.

[an]

I think it’s safe to say everyone would much rather live in a condo than a mobile home. But everyone also would much rather live in a SFR than a condo. Most of the time, the only reason why anyone live in a condo or a mobile home is because that’s all they can afford. I’ve seen mobile home advertised on craigslist for around $75k-$100k. $400-500/month payment might be all some people can afford.

[an]

I think it’s safe to say everyone would much rather live in a condo than a mobile home. But everyone also would much rather live in a SFR than a condo. Most of the time, the only reason why anyone live in a condo or a mobile home is because that’s all they can afford. I’ve seen mobile home advertised on craigslist for around $75k-$100k. $400-500/month payment might be all some people can afford.

[SD Realtor]

Hawk I would agree that depreciation on condos is without a doubt a much bigger risk then a sfr. No argument. If it is right for you and you know that going in then so be it. If you are thinking that maybe you are only gonna hold onto it a few years then you may want to be more cautious and hold off.

SDR what do you think of the older twin homes in La Costa Meadows? I don’t know why but I like them. They have nice sized yards, and I listed one last year that sold pretty quickly. The neighborhoods seem nice as well.

SD Realtor

[SD Realtor]

Hawk I would agree that depreciation on condos is without a doubt a much bigger risk then a sfr. No argument. If it is right for you and you know that going in then so be it. If you are thinking that maybe you are only gonna hold onto it a few years then you may want to be more cautious and hold off.

SDR what do you think of the older twin homes in La Costa Meadows? I don’t know why but I like them. They have nice sized yards, and I listed one last year that sold pretty quickly. The neighborhoods seem nice as well.

SD Realtor

[4plexowner]

Condos:

> little control over costs (HOA, special assessments)
> more influenced by distress sales (for example, in an SFR you can argue that you have a better lot, better sunlight, etc than the distressed property across the street that just closed escrow for $50K less than your asking price – when the condo three doors down from you with the exact same floorplan sells for $50K less than yours, try telling a buyer how your condo is so much better than the distressed one and how that low-ball comp should not be considered)
> HOA tells you how to live (no junk on the balcony or patio, landscaping must be approved, no parking in the driveway, etc)
> common walls – I love hearing my neighbors {fill in the blank}
> poor construction – condos are the main reason destruction defect litigation exists
> lifestyle – looks and feels like an apartment complex

Anyone care to add to the list?

[4plexowner]

Condos:

> little control over costs (HOA, special assessments)
> more influenced by distress sales (for example, in an SFR you can argue that you have a better lot, better sunlight, etc than the distressed property across the street that just closed escrow for $50K less than your asking price – when the condo three doors down from you with the exact same floorplan sells for $50K less than yours, try telling a buyer how your condo is so much better than the distressed one and how that low-ball comp should not be considered)
> HOA tells you how to live (no junk on the balcony or patio, landscaping must be approved, no parking in the driveway, etc)
> common walls – I love hearing my neighbors {fill in the blank}
> poor construction – condos are the main reason destruction defect litigation exists
> lifestyle – looks and feels like an apartment complex

Anyone care to add to the list?

[sdrealtor]

I like them too but I’d like them better at 400K. For a young family or older couple they are a nice middle ground between a condo and an sfr. The neighborhood is fine also but I suspect your client wants to be closer to the beach. It’s also a pretty blue collar area with lots of contractor type trucks parked all over which no doubt gave her reason for pause.

[sdrealtor]

I like them too but I’d like them better at 400K. For a young family or older couple they are a nice middle ground between a condo and an sfr. The neighborhood is fine also but I suspect your client wants to be closer to the beach. It’s also a pretty blue collar area with lots of contractor type trucks parked all over which no doubt gave her reason for pause.

[Author]

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