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March 16, 2015 at 9:29 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783856
svelteParticipant[quote=harvey]How can someone be $11K underwater on a car?
Take the car to Chula Vista and conspicuously leave the keys on the roof. Go have lunch somewhere and be sure you have transportation back home.
That will improve your balance sheet by $11K.
[/quote]? Unless they bought gap insurance (and even that expires after a brief period) they would be out the difference between the car’s value and what they owe.
ie, they would still be on the hook to the bank for $11K and yet have nothing to drive.
svelteParticipantI think at least one trip a year is for mental health.
I can see things so much more clearly if I’m over a hundred miles away from my normal daily routine – it’s almost like I’m outside looking in. I return to my routine with more enthusiasm, a clearer vision for where I’m going, and appreciation for just how good I have things.
It can be a trip to relative’s houses (couch surfing is cheap 🙂 ) as long as it is at least 100 miles – and several hundred miles is better – from home.
svelteParticipantGiven the new information, it’s pretty clear the questionable decision was not the house purchase. That was solid. The questionable decisions were the cars, as you’re aware.
I have to admit when you bought the house and immediately remodeled it, I became a little concerned. It wasn’t just a simple remodel as I recall but a pretty high end remodel. That gave me pause.
In the four years since purchase, you’ve spend a good chunk on a remodel and purchased at least two new cars.
Now is a good time to pause and evaluate.
You now have three kids – it is time to focus on them. No more trips to Vegas. No more new cars. Nothing but protecting that nest and paying down your debt.
Kids don’t care if you car is 1 year old or 10 years old – they really don’t. Give them a loving stable home and a few toys now and then and they are happy.
I’ll tell you a story about when we bought a new house when my son was 10. I was concerned about whether we could afford it, but I knew it was a wise thing to purchase from a financial standpoint (that turned out to be correct).
My son and I were driving somewhere in my truck when we opened escrow and since I’m a worrier, I let him in on the big decision we were making. I asked him if it was OK with him if we bought the house and couldn’t afford to go to Disneyland or do other fun things for a few years. He fell silent. He thought for a minute. He asked if he would still get toys at Christmas. I promised him like I’ve never promised that his Christmases would not change. He said then buy the house.
Kids are pretty simple. My son’s big thing was getting great gifts at Christmas. That is all he really wanted. I’m sure your kids have a similar one or two things that are a priority to them.
Just make sure you keep that nice, stable house you have and focus on the one or two things your kids want each year and see them through to adulthood.
I can guarantee (almost) that if you sit down and tell them the situation – that you’re going to have to cut back on spending – and ask them what is important to keep in their life as you cut back, none of those kids will say a new minivan.
I’ve often said the best things in life are free. And we are lucky. We have the beach right here. There are many, many fine parks in San Marcos – even a lake right there in Discovery Hills. Or take them to Jack’s Pond. Year passes to the zoo are dirt cheap. And there is always camping.
I know you’ll be giving up all the fun things adults do (well, the ones that cost anyway 🙂 ) but that’s what my wife and I did for over a decade. No nights out, no drinking, no social life. Just raising kids. That’s it. Our kids thought we were outcasts since we had no friends.
But once they turn 16, they really don’t want to hang out with mom and dad anyway. Then your social life will return…you’ll find new hobbies…Vegas will once again call your name. And life will take you to the next adventure beyond parenthood. Our circle of friends is now larger than our kid’s. 🙂
All things in moderation and at the right time.
Sorry to be so preachy, I’m normally not like that. But I get the sense you’re at a crossroads and if you make the right choices you’ll have set yourself up for a very bright future.
(ps – I think you should stay pat on the cars for 3 years. You should have the Prius almost paid off by then. The lease on the Honda will be up. Then you can buy a real nice used car for $8-9K with 100K miles and have two reliable cars on your hands…that should get you through another 5 years or more…I have a friend with over 250K on his Prius and it’s still going. Worried about going on long trips with a 100K+ mile car? Rent a car for the trip! That’s what we did – worked out fine and a helluva lot cheaper than a car payment all year.)
svelteParticipant[quote=lpjohnso]
We love the house, the schools, the neighborhood and town so much that we could happily stay here until the house is paid off. After everyone’s help on this thread and much discussion, we are going to pick up some extra shifts at work, sell a kidney or 2 on the black market, and go with Option #1.
Thank you all so very much :)[/quote]
Wise choice, except the kidney part.
I’m very familiar with SM and can tell you for sure Option 1 is your best choice given your situation.
It will be painful for awhile trying to make ends meet, but using some of the suggestions on here will help out a lot.
The rental market in SM right now is hell with a lot of competition for few units. And your rental costs would be sure to go up yearly.
No, you guys made a wise move in buying your place. Let that equity continue to grow.
March 2, 2015 at 6:51 PM in reply to: OT: Discuss- The Porsche GT4 is a better car than a 911 and very close, if not better than a 911s #783414svelteParticipantI’m being opaque for a reason – there is not another exactly like it in SD county and I would potentially lose my anonymity if I said too much.
It is not a Fiat, though I have nothing against them.
We have not regretted this car for a single second – best automotive decision we’ve ever made.
February 27, 2015 at 7:32 AM in reply to: OT: Discuss- The Porsche GT4 is a better car than a 911 and very close, if not better than a 911s #783347svelteParticipant[quote=bobby]italian cars are fun and all but they can be temperamental.
if you get one, get a second car. One never know when the car may decide to have a day off.[/quote]That’s definitely been the case in the past, but as with all cars they have come a long, long way in the last 20, and especially 10 years.
I bought a new Italian car last year and haven’t had any issues…about to take it in for its first service at the 12 month mark.
svelteParticipantI use this and put everything on it.
Gets me a good chunk of change at the end of each month…
svelteParticipantNobody will likely be entirely happy with the decision, and sometimes that is the sign of a great compromise.
San Diego, like most very large cities, is really a set of cities within cities. I kind of see each of those sub-cities as needing a hub. Hopefully One Paseo can provide that for Carmel Valley.
Hey, we’re about to get a similar thing here in San Marcos just a few miles from my home. And I haven’t even made any protest signs.
As for those owning rentals in Carmel Valley who are upset about One Paseo, you do understand that most owners who live in their Carmel Valley are less than thrilled with their neighbors who rent their property out. That puts your property in the undesirable category to them…not much different than they way they view One Paseo…they might actually be happy if you sold to someone who would actually live in the home!
February 24, 2015 at 6:41 AM in reply to: OT: Discuss- The Porsche GT4 is a better car than a 911 and very close, if not better than a 911s #783287svelteParticipant[quote=flu][quote=svelte]Skip the Germans, go Italian.[/quote]
Can’t afford it, except maybe Fiat. Lol….[/quote]
There are a few Italians on the US market now (other than Fiat) that are in the same price range as the Germans, with more to follow soon.
I was going to delineate them, but decided cars are a highly personal and emotional choice and I probably wouldn’t sway anyone anyway.
As for Fiat, I am overwhelmed at how many 500s have been sold here! My wife and I play a game whenever we get in the car called “Find the 500” and I swear that if we travel more than 5 miles, we see a 500 every time! It is amazing for a car that’s only been on our shores for a year or two.
Not sure why German cars don’t appeal to me, but Italian…those whisper my name…
svelteParticipant[quote=AN]Wasn’t there a vote today? Anyone know what’s the result?[/quote]
http://www.10news.com/news/san-diego-city-council-to-consider-750m-carmel-valley-project-one-paseo
February 23, 2015 at 7:05 PM in reply to: OT: Discuss- The Porsche GT4 is a better car than a 911 and very close, if not better than a 911s #783276svelteParticipantSkip the Germans, go Italian.
svelteParticipant[quote=carli]
And I don’t have faith that the lack of public transit will change anytime soon. Yes, it should be easy to fix as there are two bus lines currently 2+ miles away from One Paseo, but locals have been working for years to bring either one of those bus lines up Del Mar Heights Rd, without any success. It would be great if One Paseo became the catalyst to make that happen, but if that was likely, why wouldn’t the developer and/or elected officials be saying so as part of their pitch? So far, the only offer the developer has suggested is that they might have a shuttle bus to the Coaster station. Nice, but not going to be useful to anyone who needs to get around the area, going to the beach, schools, library, other shopping areas, etc – and isn’t that the point of creating hubs/villages in the area? [/quote]I thought the point of creating a hub/village was two-fold:
– To create an atmosphere where everything a resident would need is within walking distance
– To reach that critical mass where the vibrant, active social interaction takes place.I didn’t think the point of creating hubs/villages was to attract public transit.
One reason that Del Mar Heights Road doesn’t have public transit right now is because there wouldn’t be enough users…something One Paseo would solve.
It almost sounds like you’re standing on both sides of the fence…you want public transportation but you don’t want the population density it would take to attract it.
svelteParticipant[quote=carli]
Reality now is that zero public transit is even being proposed for the area until 2035 and even that is unplanned/unsure/unbudgeted. [/quote]Well. Maybe technically it is true that nothing is proposed right now, but I doubt it happens anywhere near that late.
http://www.sdmts.com/MTS/documents/rtm-oct-2014.pdf
In the above link, scroll down to Q4 and you’ll see that MTS Route 308 passed about 2 miles from One Paseo.
Once One Paseo is complete, it would be simple to re-route 308 to go to the corner of Del Mar Heights Road and El Camino Real…and it could be done for virtually zero cost.
Take that bus 5 miles to the Coaster and you’re set up to go anywhere in the county.
svelteParticipantPersonally, I kind of like little hubs of activity.
One of my complaints about North County (and I don’t include Carmel Valley in NC – it is more mid county) is that there is little nightlife…not enough density anywhere to get anything really vibrant going. Its sorta developing on Carlsbad Village Drive, but that’s still pretty weak.
If we could develop small, dense focal points throughout the north county I think everyone would benefit. Say one in Carlsbad/Oceanside area, one in Escondido/RB area. It looks like San Marcos may beat them to the punch though with the development plans around Cal State San Marcos.
I don’t particularly like living in high density, so I absolutely want large lot SFRs around me…but there are times when we want to go out and mingle with the masses. It would be great if we didn’t have to go all the way downtown to find a significant amount of nightlife.
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