If you could only afford a 500k home where would you buy? (Pasadena: for sale, HOA)

[HyperionGap]

Originally Posted by David Aguilar

Montecito Heights.

How does that compare to Mt Washington?

[HyperionGap]

Originally Posted by SUPbud

Tell your friends to enjoy their commute. You can't have it all.

Well that's what they're currently doing. Free room and board is nothing to sneeze at. They're probably saving 25k a year.

[Electrician4you]

Originally Posted by HyperionGap

Got several friends these days looking to move out of the parents homes and buy their first homes and the budget seems to be around 500k.


Most work either downtown or Pasadena.


If you were in this situation what would you buy and where? Single family or condo/townhouse.

Dude Pasadena is well over 500k. Under 500k you're talking Corona,Eastvale, Chino, Chino hills. Mira Loma, Riverside. Maybe a few in Santa Ana, Garden Grove.
But LA and surrounding cities you'll be very hard pressed to find a FSR for 500k

[genjy]

Around here, small tract houses (~1300sqft on 6000sqft lot) that would sell for $300k about 5 years ago are selling for $450k+ nowadays, with prices creeping up every month.

$500k is really not much of a SFR budget unless you go AV or deep into IE.

[BGS91762]

Very true. Most new housing developments under $500k are in Fontana or points east. Condos near my house in Upland are brand new and go for around $350. Older houses in Upland area can still be bought in the $400s.

[Voyageuse]

Personally, I hate condos/townhouses. Even in a SFR, we live too close to our neighbors, whom we despise. I can't imagine sharing wall space with them. Couple that with slow appreciation, and a condo/townhouse just isn't for me.

However, if I were your friends, were itching to buy, had a similar budget, and were more tolerant of neighbors, I'd opt for a 1-2 bedroom condo south of Del Mar in Pasadena. The building will be old and dated, but it could be a good option for them.

This condo in South Pasadena is also really cool and close to everything the Mission District offers.

https://www.redfin.com/CA/South-Pasa...J/home/8177402

Areas like Mt. Washington/Highland Park/Echo Park and Montecito Heights are too skeevy for me. I'd stick to Pasadena/So.Pasadena and buy a smaller place. Both cities are nicer/safer and the commute is reasonable.

My niece just bought a 1BR/1BA condo in Rancho Palos Verdes in an outdated building for ~$365K and she looooves it. She lives alone and works as a civilian officer at the Manhattan Beach P.D. We're really proud of her for buying it on her own.

[HyperionGap]

Originally Posted by Electrician4you

Dude Pasadena is well over 500k. Under 500k you're talking Corona,Eastvale, Chino, Chino hills. Mira Loma, Riverside. Maybe a few in Santa Ana, Garden Grove.
But LA and surrounding cities you'll be very hard pressed to find a FSR for 500k

Not for condoes/townhomes.

Originally Posted by HyperionGap

Got several friends these days looking to move out of the parents homes and buy their first homes and the budget seems to be around 500k.


Most work either downtown or Pasadena.


If you were in this situation what would you buy and where? Single family or condo/townhouse.

[HyperionGap]

Originally Posted by Voyageuse

Personally, I hate condos/townhouses. Even in a SFR, we live too close to our neighbors, whom we despise. I can't imagine sharing wall space with them. Couple that with slow appreciation, and a condo/townhouse just isn't for me.

However, if I were your friends, were itching to buy, had a similar budget, and were more tolerant of neighbors, I'd opt for a 1-2 bedroom condo south of Del Mar in Pasadena. The building will be old and dated, but it could be a good option for them.

This condo in South Pasadena is also really cool and close to everything the Mission District offers.

https://www.redfin.com/CA/South-Pasa...J/home/8177402

Areas like Mt. Washington/Highland Park/Echo Park and Montecito Heights are too skeevy for me. I'd stick to Pasadena/So.Pasadena and buy a smaller place. Both cities are nicer/safer and the commute is reasonable.

My niece just bought a 1BR/1BA condo in Rancho Palos Verdes in an outdated building for ~$365K and she looooves it. She lives alone and works as a civilian officer at the Manhattan Beach P.D. We're really proud of her for buying it on her own.

That's great. Most millennials if they want to buy in the primo areas of LA will be buying condos/townhomes as their starter homes. Not SFRs.

[Voyageuse]

Originally Posted by HyperionGap

That's great. Most millennials if they want to buy in the primo areas of LA will be buying condos/townhomes as their starter homes. Not SFRs.

Hey at least they're buying and not renting forever, or God forbid, living with their parents long term. We've encouraged our kids to buy two years after college even if it's a condo.

[Elle2015]

Millenials are moving to View Park, View Heights Leimert Park, and Windsor Hills and an ever increasing rate, in addition to the downtown area. You can find 500k in all but Windsor Hills. Unless, you have intentions on 1 1/2 to three hour commutes I would not move to the IE.