A native Angeleno who is considering leaving LA for good (Los Angeles: rent, crime)

[pwright1]

Originally Posted by Stevedore

LOL, not even close; nice try. I've been happily married to my FIRST wife for seven years and have only one child, minimal debt and I have 100k for a down payment but don't want to borrow more than 300k. I don't need or want a big house, just a 3-4 bed 2 bath house with a decent yard thtat's at least 2000 square feet; that's all. That's minimum 600k( Not looking for a fixer either) in a decent area with above average schools where my kid doesn't have to learn Spanish as a second language, get it?

I can afford here, but choose not too. It's hard for me to justify a $2800+ mortgage for a small box just because it's L.A. I'll get my 2000 sq. ft. home 15 min. from Boulder for half the price and put the extra 40k I'll have from the lower down to good use thank you.

I guess everyone is different. There is no way i would ever live in Boulder. Even worse 15 minutes outside of town. And there's a good chance its probably some treeless look alike suburb. Housing there should be cheap. LA is expensive but not the most expensive city i lived in. But it certainly is the most enjoyable.

[buffyuna]

You are making a wise decision. The weather is overrated (nothing beats a thunderstorm on a day that you can sleep in) and the crime factor is definitely something to consider. I see a lot of talk about not needing to live in a mcmansion to have a good quality of life, but how about not living in a roach motel in an industrial neighborhood filled with crime and smog? Cause that's the reality for most middle-lower class Angelinans. The people who actually get to enjoy the perks of living in LA are the ones that can afford to pay $2k just for a studio apartment.

I'd much rather live in a nice clean apartment with updated appliances and non lead poisoned walls, than in a 1920's bed bug infested crap shack surrounded by puking bums and gun happy hoodlums. With that said I prefer the mindset of the people in LA because as a unconventional entrepreneur I don't feel like a mythical creature due to everyone having a hustle out here.

[FirebirdCamaro1220]

Originally Posted by buffyuna

You are making a wise decision. The weather is overrated (nothing beats a thunderstorm on a day that you can sleep in) and the crime factor is definitely something to consider. I see a lot of talk about not needing to live in a mcmansion to have a good quality of life, but how about not living in a roach motel in an industrial neighborhood filled with crime and smog? Cause that's the reality for most middle-lower class Angelinans. The people who actually get to enjoy the perks of living in LA are the ones that can afford to pay $2k just for a studio apartment.

I'd much rather live in a nice clean apartment with updated appliances and non lead poisoned walls, than in a 1920's bed bug infested crap shack surrounded by puking bums and gun happy hoodlums. With that said I prefer the mindset of the people in LA because as a unconventional entrepreneur I don't feel like a mythical creature due to everyone having a hustle out here.

The weather overrated, whatever you have to tell yourself...

[Nerdlord]

Originally Posted by Stevedore

LOL, not even close; nice try. I've been happily married to my FIRST wife for seven years and have only one child, minimal debt and I have 100k for a down payment but don't want to borrow more than 300k. I don't need or want a big house, just a 3-4 bed 2 bath house with a decent yard thtat's at least 2000 square feet; that's all. That's minimum 600k( Not looking for a fixer either) in a decent area with above average schools where my kid doesn't have to learn Spanish as a second language, get it?

I can afford here, but choose not too. It's hard for me to justify a $2800+ mortgage for a small box just because it's L.A. I'll get my 2000 sq. ft. home 15 min. from Boulder for half the price and put the extra 40k I'll have from the lower down to good use thank you.

If you want to own property in LA and you aren't making serious bank, you don't hold off for your dream home.

You get in the real estate market ASAP as soon as you can afford it. If that means a 2/1 condo in a less than desirable area, fine. Then in 5 years you sell it and move up to a 2/2 in a better area. Then a 3/2 townhouse or duplex with a rental unit, then a 3/3 SFR, etc. It's all about riding the huge wave of capital appreciation.

[Stevedore]

Originally Posted by Nerdlord

If you want to own property in LA and you aren't making serious bank, you don't hold off for your dream home.

You get in the real estate market ASAP as soon as you can afford it. If that means a 2/1 condo in a less than desirable area, fine. Then in 5 years you sell it and move up to a 2/2 in a better area. Then a 3/2 townhouse or duplex with a rental unit, then a 3/3 SFR, etc. It's all about riding the huge wave of capital appreciation.

Totally agree, that is the blueprint. If you're a millennial, getting a duplex anywhere and renting the other out is the way to go. I waited too long to jump in and now all the value is gone.

[LamarOdomsDealer]

Originally Posted by Stevedore

Totally agree, that is the blueprint. If you're a millennial, getting a duplex anywhere and renting the other out is the way to go. I waited too long to jump in and now all the value is gone.

I disagree with this. Owning is not always the way to go. You really should know everyone's factors (job security, how long they will live in a certain area, if they want to be landlords renting out the property, finances, etc). I have had so many people insist renting is for suckers but I think for me renting is significantly a smarter choice.

[Nerdlord]

Originally Posted by LamarOdomsDealer

I disagree with this. Owning is not always the way to go. You really should know everyone's factors (job security, how long they will live in a certain area, if they want to be landlords renting out the property, finances, etc). I have had so many people insist renting is for suckers but I think for me renting is significantly a smarter choice.

If you're planning on moving in the next 5 years, buy probably isn't a great idea at the moment. But if you're looking to stay long term for the next 10-20 years and property ownership is a goal, then in general it's best to to buy as soon as you can reasonably afford it.

[Nerdlord]

Originally Posted by Stevedore

Totally agree, that is the blueprint. If you're a millennial, getting a duplex anywhere and renting the other out is the way to go. I waited too long to jump in and now all the value is gone.

How do you know all the value is gone though? Rents have been going up 5%+ the last few years. Who's to say that won't continue? As housing becomes too expensive more people have to rent which puts upward pressure on rents.

I'm not saying you're wrong and maybe today is the housing peak, but nobody can predict the future.

[Perma Bear]

Originally Posted by anonymous1870

Hello people,

I was born and raised in LA and went to college in NorCal. I went to Ohio State for grad school (go Bucks!) and just came back about a month ago to start my new career (healthcare). Here's the thing: now that I'm back home, which I was dying to do while in Ohio, I feel like my perspective on LA has permanently shifted. The high cost of living, the extreme traffic, and the realization that it's almost 100% likely that I will never be able to afford a house here are making me seriously consider moving out of state. In Columbus I saw how life was so much easier - you can actually buy a home in your 20s, traffic really isn't too bad even during rush hour (compared to LA traffic), and you don't feel like you have to fight strenuously all the time to get what you want/get **** done. Even though I don't want to live in Cbus for a number of reasons, I have a soft spot for it because it showed me a different way of life that I came to really appreciate.
LA will always be home. There really is no place like it. And in spite of the many good parts of Cbus, living there also made me realize that I took many things about LA for granted. Nevertheless, Cbus spoiled me too. I got a much higher QOL there, and I'm having a hard time re-adjusting to the high COL here. I am considering moving to another state in the West Coast where I can get more bang for my buck. I do know that it's not going to be THAT much cheaper, but even a little bit helps. I was thinking of cities in Oregon and Washington in particular. I'm not keen on Arizona (too hot).
I'd like to know if any Angelenos have dealt with this issue or are currently dealing with it. What are you planning on doing?

But if you leave here how else are you going to be a movie star and make it big!

[Nerdlord]

Originally Posted by Perma Bear

But if you leave here how else are you going to be a movie star and make it big!

He works in healthcare doesn't he need to worry about being a movie star. Take your pointless posts elsewhere.