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Old 03-22-2016, 01:37 AM
 
16 posts, read 17,946 times
Reputation: 12

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Quote:
Originally Posted by socal88 View Post
Hate to break it to you, but you won't find a home in that price in a good area in the LA area. And if you do find a place, it very likely will need serious remodeling. Homes in that range are in bad areas like south LA and San Bernardino.

I would recommend trying to save up some more so you can try to afford something closer to the 400-500k range.

It's one thing to own a home, but it's another thing to live in a dumpy, high crime area where you'll be commuting 3-4 hours roundtrip to your job.
I probably could afford up to about 400 but I don't want to stretch my budget that thin. I know that I can't afford anything around LA which is why I've been looking farther and farther out. Trying to buy a house here sucks.
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Old 03-22-2016, 06:11 AM
 
1,856 posts, read 2,038,779 times
Reputation: 3940
Quote:
Originally Posted by Jim3948 View Post
I probably could afford up to about 400 but I don't want to stretch my budget that thin. I know that I can't afford anything around LA which is why I've been looking farther and farther out. Trying to buy a house here sucks.
Why do you have to buy a house?
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Old 03-22-2016, 08:34 AM
 
16 posts, read 17,946 times
Reputation: 12
Quote:
Originally Posted by Howiester View Post
Why do you have to buy a house?
I don't have to but I prefer living in a house to an apartment and I want to start building equity in something instead of giving my rent to the landlord every month.
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Old 03-22-2016, 09:35 AM
 
Location: Sylmar, a part of Los Angeles
3,435 posts, read 2,138,154 times
Reputation: 6937
You'l put 100,000 miles a year on your car and have no time for anything but work and sleep. Look in the Valley or Canyon Country. I'd rather have a lesser house than make that commute. If there is a wreck and there certainly is then your really screwed. It;s hot and cold and the wind always blows in Palmdale. Buy a starter house like everyone else in the Valley. I'd rather live in Pacoima than make that commute.
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Old 03-22-2016, 10:05 AM
 
16 posts, read 17,946 times
Reputation: 12
Quote:
Originally Posted by V8 Vega View Post
You'l put 100,000 miles a year on your car and have no time for anything but work and sleep. Look in the Valley or Canyon Country. I'd rather have a lesser house than make that commute. If there is a wreck and there certainly is then your really screwed. It;s hot and cold and the wind always blows in Palmdale. Buy a starter house like everyone else in the Valley. I'd rather live in Pacoima than make that commute.
Thanks for your thoughts. Do you have any suggestions where in the valley would be the best place to start looking? Also you're really over-estimating the mileage. It would be more like 30k-35k miles per year which granted is a lot.
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Old 03-22-2016, 10:17 AM
 
16,785 posts, read 19,633,393 times
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Quote:
Originally Posted by Jim3948 View Post
I work in the film industry. I kind of have to live here. I actually would prefer not to live here. It's too crowded but I enjoy my work very much.
Jim, you sound like a very nice guy.

But you're single with no kids. I don't get having to have a house.

Everyone I know who works in the industry has at one time or another gotten laid off. How long have you been working in the film industry?

I had a friend who worked at Warner Bros and I used to get to go to screenings and walk around on the lot, I used to think what a cool place to work. Well they got laid off.

Know someone who was at Sony Pictures, they also got laid off.

My point is at least with renting if you get laid off(and I hope you don't) you don't have to worry about a mortgage.

You stated you would prefer not to live here. Do you mean LA or Southern CA in general? I wouldn't buy a house in an area I wasn't fond of.

There is a growing film industry in NC and GA.
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Old 03-22-2016, 10:21 AM
 
4,028 posts, read 8,299,064 times
Reputation: 2871
Quote:
Originally Posted by Jim3948 View Post
I'm curious why does that change your opinion versus downtown? Just the extra distance or the lack of a train option?
Lack of train option and I think you are crazy taking on a commute like that.

Bottom line is you cannot afford to buy a sfr in Los Angeles and furthermore your job location precludes buying further out because both the public transportation and your commute will be too great an amount of time. You are looking at a two hour trip each way from any of the locations discussed, and that's whether you take public transportation or drive.

Unless the housing market changes you should resign yourself to renting.
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Old 03-22-2016, 10:23 AM
 
Location: Los Angeles County
11,064 posts, read 8,986,001 times
Reputation: 28999
If you are going to live here you need to get used to the idea of renting. You are not in a position to buy without having a miserable commute. Renting has many benefits as well.
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Old 03-22-2016, 10:18 PM
 
Location: Sylmar, a part of Los Angeles
3,435 posts, read 2,138,154 times
Reputation: 6937
Rent is money out of the window. Buy a house, houses appreciate here.
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Old 03-22-2016, 10:45 PM
 
4,028 posts, read 8,299,064 times
Reputation: 2871
Quote:
Originally Posted by V8 Vega View Post
Rent is money out of the window. Buy a house, houses appreciate here.
1.) Not helpful given OP's overall situation. I wonder if you even read OP and subsequent related posts.

2.) Even if OP bought, it would not be "here". It would be somewhere else where houses don't appreciate much.

3.) Rent is not "money out of the window". Almost everyone has to pay a housing cost. Whether it is rent or on a mortage, its not "money out of the window".
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