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05-15-2007, 01:11 PM
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Senior Member
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Join Date: Jan 2007
Location: Windsor, England
1,407 posts, read 871,385 times
Reputation: 618
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$100k or less?
Could a couple making less than $100k per year between them make it in OC? We would not be fussy about housing/cars etc but at the same time, I don't want to live like a peasant!
Can it be done?
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05-15-2007, 01:27 PM
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Member
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Join Date: Jan 2007
28 posts, read 33,860 times
Reputation: 20
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Ian,
When I bought my first piece of property I was living on about $1500 a month and a short time later bought a pretty nice car. The one thing that I love about CA is that you can do whatever you want and the opportunities to advance avail.
You should be fine on that salary. If I were you I would rent for awhile until you decide where you want to live and what area suits you best. From there, if you want to buy start with a condo and trade up over time. Do not put pressure on yourself to jump into the house scene just yet. A few unknowns remain about pricees and trust me you'll never be able to compete with people who have been building equity over the past 5-10 years.
Enjoy your new home. I hope you love CA and benefit from everything it has to offer. Good luck!
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05-15-2007, 01:35 PM
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Senior Member
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Join Date: Jan 2007
Location: Windsor, England
1,407 posts, read 871,385 times
Reputation: 618
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Quote:
Originally Posted by myito
Ian,
When I bought my first piece of property I was living on about $1500 a month and a short time later bought a pretty nice car. The one thing that I love about CA is that you can do whatever you want and the opportunities to advance avail.
You should be fine on that salary. If I were you I would rent for awhile until you decide where you want to live and what area suits you best. From there, if you want to buy start with a condo and trade up over time. Do not put pressure on yourself to jump into the house scene just yet. A few unknowns remain about pricees and trust me you'll never be able to compete with people who have been building equity over the past 5-10 years.
Enjoy your new home. I hope you love CA and benefit from everything it has to offer. Good luck!
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thanks alot. I appreciate your info. |
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05-15-2007, 05:04 PM
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Proud California Native
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Join Date: May 2007
Location: All over CA (north and south), now in the Seattle area...
882 posts, read 939,212 times
Reputation: 196
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I think it might be hard to buy with that salary (my husband and I make about $120K together, and we can't afford to buy in San Diego, but we don't have any savings either, so that's a factor). You can definitely live decently renting with that much, though.
V. =)
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05-16-2007, 01:19 AM
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Senior Member
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Join Date: Feb 2007
2,934 posts, read 2,075,198 times
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My parents only make 50k/year COMBINED for a family of four. The house payment is 1k/month. Gotta love getting in before the boom. Purchased home for like 115k back in '88 now worth 600k. I've read in the register that the median income in OC is around 70k/year so yea you should be able to make it. You wouldn't want to buy in this market though since we are on the peak of a RE boom. I would rent for a while and save for a down payment. Personally I don't know what people like about this place, I hate it. I am moving to another state once I graduate from college.
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05-16-2007, 02:06 AM
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Junior Member
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Join Date: May 2007
2 posts, read 1,659 times
Reputation: 10
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Yes, you can make it here. Average income is about $75k - $90k, so I think you'd be fine. You won't be living in a mansion by any means, but you could find a cool place to live in and still have some spending money for some weekend fun. I'm in the $85k range and am having a good time in OC. You just have to be smart with your money. Good luck!
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05-16-2007, 02:38 AM
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Senior Member
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Join Date: Jan 2007
383 posts, read 417,438 times
Reputation: 76
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Quote:
Originally Posted by ian6479
Could a couple making less than $100k per year between them make it in OC? We would not be fussy about housing/cars etc but at the same time, I don't want to live like a peasant!
Can it be done?
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If U live on the wild side, 10 times that won't be enough. But 100k is a pretty decent amount to live almost anywhere in O.C. and still have some good social life. If U are buying a home, then it is a matter of how much U put dn. and still live like duke/duchess. |
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05-22-2007, 02:19 PM
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It's Possible!
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Join Date: May 2007
374 posts, read 396,041 times
Reputation: 143
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I work with several clients who live in OC and make under a $100k. It depends on your full financial picture, debt and where you pick to live. If you want a 3000 sq. ft home, 3 car garage, full upgraded then yes you will have difficulty but there are also some great buys currently. Don't hesitate to contact me if you need any help!
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05-26-2007, 01:43 AM
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Cantankerous
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Join Date: Apr 2007
Location: Los Angeles Area
3,306 posts, read 1,148,368 times
Reputation: 592
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Median Income for OC is 80,000. If you can't take it on 100,000 you'd have to wonder what more than half of OC's residents are doing!
The only cost that is crazy in OC is homes, but that is going to change over the next few years.
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Personally I don't know what people like about this place
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