Help! Where should I live... chula to Carlsbad. $700k (San Diego: townhouse, buying)

[oddstray]

Originally Posted by GuyInSD

Bad link, but I think you're trying to reference the 2011 PUSD bonds.

In short, PUSD borrowed $105M, with about $1B payback due, starting about fifteen years from now
(no payments for the first 20 years, while the interest is accumulating, but then start paying for the next 20 years).

Doing the math, this is about the equivalent of getting a 40-year mortgage at a 23% interest rate - not the brightest thing to do when interest rates are at historic lows.

So - starting in about 15 years, every property tax payer in PUSD will get a surprise on their tax bills.

Anyone thinking of buying property in PUSD should keep this in the back of their mind.

I don't think everyone in PUSD is going to get this hit. We live in RP, and we had no vote on this bond measure. So I don't expect we'll get the property tax hit. But, the PUSD schools in RP will probably not benefit from this bond measure either.

OP, if you're hoping to get into the PUSD, add Rancho Penasquitos and Rancho Bernardo to your search. They are both in PUSD in addition to Poway itself.

https://www.powayusd.com/Departments...ries-Maps.aspx

[echo42]

Originally Posted by Kml636

My husband and I are starting to be discouraged. We are open to anywhere really with good schools in a family atmosphere (walk to parks, etc.). We raised our budget to 700 K and we are still having trouble finding the right place. We have put three offers in, two in Rancho Penasquitos and one in Del Cerro and I have not been successful. We have looked at numerous houses all the way from Chula to Carlsbad. We are still having trouble narrowing down on the best bang for your buck with the best schools. My husband works in old town so the commute is a consideration. We prefer a four bedroom but are also open to a three bedroom. Want a nice backyard, without high mellow Roos. Don't mind paying HOA fee to have a pool. Ideas?

700k for a budget:

Great house
Great neighborhood


you can only pick one.

[someguy10]

Originally Posted by echo42

700k for a budget:

Great house
Great neighborhood


you can only pick one.

Pretty accurate in the current market. I recommend going with great neighborhood -- you can't change the location but you can improve the house over time.

[loveautumn]

I vote for great neighborhood and schools

[Larry Siegel]

$700K is only "really tough" if you HAVE to have a SFH.

https://www.redfin.com/CA/San-Diego/...0/home/4482737

Heart of Carmel Valley, 5 minutes from the beach, best public schools in Southern California.

Not spacious and not a SFH. It would be more than enough for me, my wife, and one kid. Two kids might be tight. But, hey, this is San Diego.

There are probably much larger and cheaper townhouses in RB, Poway, Tierrasanta, Scripps Ranch, etc.

[someguy10]

Originally Posted by Larry Siegel

$700K is only "really tough" if you HAVE to have a SFH.

https://www.redfin.com/CA/San-Diego/...0/home/4482737

Heart of Carmel Valley, 5 minutes from the beach, best public schools in Southern California.

Not spacious and not a SFH. It would be more than enough for me, my wife, and one kid. Two kids might be tight. But, hey, this is San Diego.

There are probably much larger and cheaper townhouses in RB, Poway, Tierrasanta, Scripps Ranch, etc.

There is something that just seems insane in paying 3/4 of a million on a townhome which is basically just a fancy condo.

[Larry Siegel]

Originally Posted by someguy10

There is something that just seems insane in paying 3/4 of a million on a townhome which is basically just a fancy condo.

It does, but if you want to or have to live in San Diego that's the price.

Or you could move to Tuscaloosa where that will get you a 6 bedroom house at the end of a long driveway, with horses, and an indoor and outdoor pool.

I like the beach and the ocean breezes.

[NYSD1995]

That place is depressing. Hope your one kid doesn't grow up to be a big moose with a bunch of big moose friends.

[someguy10]

Originally Posted by Larry Siegel

It does, but if you want to or have to live in San Diego that's the price.

Or you could move to Tuscaloosa where that will get you a 6 bedroom house at the end of a long driveway, with horses, and an indoor and outdoor pool.

I like the beach and the ocean breezes.

Yep -- no doubt. If one's household income is $300K plus, it's doable but still a big luxury choice. If HHI is $150K, it's insane at all levels.

EDIT FOR SD GUY: This is assuming typical levels of wealth for a given income level. Obviously if you make "only" $150K but have $5 million in liquid net worth, it's a totally different story.

[Larry Siegel]

Originally Posted by Sassberto

That place is depressing. Hope your one kid doesn't grow up to be a big moose with a bunch of big moose friends.

I grew up in a 1000 square foot slab house with asphalt shingle siding in Cleveland. Anything in San Diego is a huge upgrade.