Moving to San Diego (Chula Vista, El Cajon: sale, real estate, 2013)

[shugco]

I am moving to San Diego in the next few months and have some questions. I will have a starting salary of 70-80k and be working downtown near union st. I have around 50k to use for a down payment on a home and have no idea where to start looking. My wife is a medical student and will not have a decent income for a few years, no children, 3 small dogs. I dont care if we live near the beach or inland. I would like to keep my commute around 40 min or less each way. I own my vehicles, and have no real debt so a good amount of my income can be used for a mortgage. I like alpine so far, but wouldnt mind a place downtown either. I want a single family home, I am not looking for a condo. I am also a veteran and can use my VA loan. Thank you for any help.

[Clevelandgal]

I would not buy until you have really explored the area. It will take years to recoup any losses if you buy something then move to something you like more, or better suits your needs. Since your wife is a med resident, you could have moves ahead of you once she is done. Where is her residency? You might want to think about renting near her location. Also downtown and alpine could not be more different, you definitely should starting thinking about what it is you actually want.

[loveautumn]

I would also suggest holding off until you are here for awhile and get to know various areas of SD. There are so many different towns, all with their own unique "personalities". I don't see any rush to buy right away and since you obviously have saved for this next step in your life, waiting awhile would hurt and could avoid a big financial mistake. Not much land here as far as yards go, so having 3 dogs you'll need to probably look in the outskirts. I know it probably pains you to think of "throwing money away" on rent, but it will save you alot of money in the long run, IMO.

[shugco]

I just can not find any rentals for less than 1300-1500 a month. If I buy a home for 200-300k im gonna pay about the same monthly with current interest rates and a down payment. I have profits from other properties and I can avoid taxes if I reinvest my profits into real estate so buying is a sure thing for me. My wife is starting PA school at the beginning of next year and we are not even sure if she will come to San Diego with me or finish her school in Las Vegas. I was just offered a job in San Diego that will get my foot in the door for some long term career goals so I need to go. She might start her school in CA or she will just move to CA 2 years later after school. I understand that alpine and downtown are very different, I would like to have some land though. I think if I found a house downtown I would need a property with at least 6500 square feet of land. My father was a contractor my whole life and I can do all renovations myself if I find a fixer upper. How far inland can I go and expect a 45 min or less drive to downtown union st.? Thanks

[barryg]

Tons of places are 45 min drive from downtown....you name it. You should take a trip out here first for 3-5 days and drive around with a realtor.

[shugco]

I plan on spending a few weekends in San Diego before hand but I would just like ideas on where to begin. My wife and I are in our late twenties with no kids so we like going out to dinner often, shopping, Movies, etc. Although we like to grab drinks on the weekends I would not want to live near any bar district that has students partying and causing headaches regularly. I know that parking is also limited, would it be a good idea to sell my 4 door full size GMC and buy a car or jeep? I cant see any reason a big truck will be necessary living in San Diego.

[CountryTrotter]

I would recomend the eastern area of Chula Vista. Eastlake, Otay Ranch, etc. It is fairly new, safe, clean and home prices are lower than those in the north county suburbs. Plus it should be a reasonable commute to downtown San Diego where you 'll be working.

[shmoov_groovzsd]

Take a look at a map and go east of downtown on the 94.

East San Diego neighborhoods (Golden Hill, City Heights, Encanto), Lemon Grove, La Mesa, Spring Valley, Rancho San Diego, El Cajon (in that order)

You can find houses there along that strip for those prices and be fairly close to downtown without a lot of traffic on the 94.

While these neighborhoods and cities are not 'postcard' San Diego they are diverse but our version of middle class, blue collar whatever you want to call it, safe areas for the most part. Houses can range from grandiose (Mt Helix) to dumpy in terms of stock.

I live in Lemon Grove. Quiet and quaint. Housing is ticking up out of your range though for the nicer properties but you can get a decent sized piece of property in the areas listed if that is what you are looking for.

Try this site and simply hoover over each respective area to get a feel for what I am talkig about.
http://www.sdlookup.com/Market_Map-San_Diego

It would be wise to visit first as the others have said and then decide if renting or buying works for you. No question that I would rent (like most of us) first then get a feel for areas to buy in. SD is all over the board when it comes down to where and what you are able to buy.

Its hard not to want to live along the coast when you see it. But the real question is, when real life kicks in and you plan staying the long haul, is that a top 3 priority for you at this point in your life in relation to the pricetag?
For many its the main reason they move here, for others, its not. Depends on who you ask

[shugco]

Thank you for the info! I am not sure the timeframe that I must buy to avoid paying taxes on my profits from other real estate I sold but renting might be out of the question. I am not planning on buying without spending several weekends searching for something I want to live in. I am not too concerned about living on the coast, I have no problem living 15-25 miles away from the coast. I think my max will be 350k when I buy, I planned on putting 50k down but I can squeeze a little more if its absolutely necessary.

[earlyretirement]

I'd listen to the advice of the others to just RENT for a bit of time before you buy. Get it out of your head that if you are going to be renting and paying the same it's a waste of money. It's NOT a waste of money if you buy the wrong property in the wrong area or something that ultimately you're not happy with.

Slow down a bit and rent something even if it's more expensive then what you pay for a mortgage. You do NOT have to rush to buy something and the low interest rate environment isn't going anywhere this year and next year either. The Federal Reserve already signaled low interest rates are going to be around all through 2013 so I wouldn't worry about rushing on something. And if you're selling a primary residence and lived in it for at least 2 years you can get a capital gains tax exclusion for $250,000 ($500,000 if you're married). So don't rush on anything and think you have to be forced into buying something quickly or even at all. You won't pay any capital gains taxes on the sale of your primary home unless you made more than $500,000 on the sale which won't apply to almost everyone out there selling except the mega wealthy.

The worst mistakes I've seen on real estate transactions have been when someone rushed into something. Listen to the excellent advice people are giving you. Especially when you are giving such broad choices from Alpine to Downtown! That's quite an extreme. Take your time and rent for a while and take it slow.