Small house at 100k or less in Los angeles area? (real estate, 2015)

[seph22]

Originally Posted by CAVA1990

Where are you going to college?

Ucla for english course first year
Then i might change college or stay in it for actual study

[EscapeCalifornia]

Originally Posted by seph22

I can't change my college now since i have a scholarship for LA college registered with papers received/sent and all.

If 300k minimum need for a single room house for safe area then I'll stick to renting, my rent will be about 1200$ a month near my college that's 85k~/6years i was thinking of investing of that 85k instead of wasting it but i guess that's the way it's in LA

what about decent/safe condos? 200k?

Remember it costs money to buy a house, it costs money to own a house, and it costs money to sell a house. What happens when you're ready to leave and you can't sell it?

[seph22]

Originally Posted by EscapeCalifornia

Remember it costs money to buy a house, it costs money to own a house, and it costs money to sell a house. What happens when you're ready to leave and you can't sell it?

The property tax and insurance is basically nothing if you buy a cheap house
if i were to rent i will end up losing 85k~ during my study

If i were to buy an apartment/house for 100k and after I'm done i can sell it for higher if the prices went up after 6 years, or the same, even if i were to sell it at half a price i still made a profit, and ignoring all that i might not sell it to begin with, i can keep it as in investment or a place where i stay during my vacations to USA since as i mentioned before this is not my first time in USA or let me family/friends stay in it when they visit LA in their vacations

[EscapeCalifornia]

Well if you want to live and vacation in the ghetto, knock yourself out.

[Ceece]

If you aren't even in the USA yet it's pointless to be talking about buying a house. Why buy if you might change schools after a year anyway? You don't know how the next 6 years will unfold so plan on being a renter until your plans firm up.

[Gjamm00]

Not sure if it's too late, but you might be better off going to a different school/state where 100K might get you a condo.

[oddstray]

Originally Posted by seph22

wow it's that bad you can't get even 1 bedroom for 100k?
how do young Americans at early 20 buy a house then or do they just rent?

So if i were looking for 1 bedroom small house or a condo/apartment how much do i need?

Young Americans at early 20's rent. Or are back living with their parents, given our economic problems of the last several years.

LA is geographically huge. Where are you planning to do your 5 years of engineering? Even so, rent. In the US there's not much to be gained (monitarily) by buying a property unless you plan to live there long-term. 5 years is not long-term.

[seph22]

Originally Posted by oddstray

Young Americans at early 20's rent. Or are back living with their parents, given our economic problems of the last several years.

LA is geographically huge. Where are you planning to do your 5 years of engineering? Even so, rent. In the US there's not much to be gained (monitarily) by buying a property unless you plan to live there long-term. 5 years is not long-term.

I'm not looking to gain "money" I'm just looking to reduce my loss
I will already spend about 100k if i were to rent for 6 years.

It's wasting 100k and gain nothing or waste 100k yet you end up with a home that you can sell later on.

[nmnita]

Originally Posted by seph22

Hello everyone
I'll arrive in los angeles in August to study for the next 6 years ( 1 Year language + 5 years engineering) I worked few years so i already got around 100k in cash available to buy a house to avoid wasting money for 6 years on rent

I don't need a big house being single and all, so anything with 1-2 bedroom is totally fine with me

Is there anything like that in "safe" area or 100k is just too low?

Also how are the people in LA? i hope they are nice i only did visit new york and Florida before and while in the movies everyone says that new yorkers are rude etc my experience as a tourist was different they were quite nice

Thanks in advance for anyone who will post helpful info

your chances of finding anything under $100,000 are slim, but some of this depends on where you will be studying and where you want to live. Even with the deflation of property in Ca, $100,000 buys almost nothing. If you were to find something the area probably would not be safe or desirable. I am sure others can guide you to the least expensive areas more than I can.

I don't think you have any idea what Los Angeles is like, it probably is nothing like your country. Kids here in thier early 20s are normally not even out of college, much less thinking of buying homes. They usually live at home or with room mates. You also mention 1 bedromms, they are not easy to find in our country and would not be easy to sell either. Most people want at least 2 bedrooms.

I think you will have to come here and see for yourself, then you might want to re-consider buying.

[hoffdano]

Originally Posted by seph22

wow it's that bad you can't get even 1 bedroom for 100k?
how do young Americans at early 20 buy a house then or do they just rent?

So if i were looking for 1 bedroom small house or a condo/apartment how much do i need?

You would have difficulty finding a small home in the Austin city limits for $100K. In the suburbs yes. But most neighborhoods have 3 bedroom homes. The people here know better than me about LA. But I would have guessed $400K for something in a "good" neighborhood.