condo costs in so. s.f. or san mateo area (San Francisco: real estate, apartment)

[johninvegas]

Hi guys!

My wife and I are thinking of getting a small 1bdr condo so we can spend weekends and a few weeks a year in the S.F. area. Just wondering what the average condo prices are in the so. S.F. or San Mateo areas are running these days. I know somewhat how prices are running in the bay area, so I don't think we'll have too much sticker shock

Thanks!

Henkelphoto

[Need_affordable_home]

If you want to vacation in SF, rent out a motel suite! I am afrid to tell you how much condos will cost and it makes no sense to leave it empty most of the year. Property taxes, HOA and insurance would eat you!

[johninvegas]

Thanks, but the whole reason we want to purchase a condo is so we don't have to stay in a motel. We also have other family members who will take advantage of the opportunity to spend time in this wonderful area.

Henkelphoto

[Need_affordable_home]

Then I suggest renting an apartment, far cheaper than owning and leaving it vacent most of the time

[johninvegas]

Thanks for your input. Personally, I would rather own, taking the tax write-off on my taxes (which are substantial) and have the possiblity of sometime in the future of possibly making a buck or two on an owned property versus a rental. I'll take your suggestions under advisement, though.

Thank you,

Henkelphoto

[MoMark]

Originally Posted by henkelphoto

Hi guys!

My wife and I are thinking of getting a small 1bdr condo so we can spend weekends and a few weeks a year in the S.F. area. Just wondering what the average condo prices are in the so. S.F. or San Mateo areas are running these days. I know somewhat how prices are running in the bay area, so I don't think we'll have too much sticker shock

Thanks!

Henkelphoto

Take a look at the local MLS. It has public access.
sfarmlsdotcom

[Need_affordable_home]

Originally Posted by henkelphoto

Thanks for your input. Personally, I would rather own, taking the tax write-off on my taxes (which are substantial) and have the possiblity of sometime in the future of possibly making a buck or two on an owned property versus a rental. I'll take your suggestions under advisement, though.

Thank you,

Henkelphoto

Now isnt the time to invest in real estate. We are in the middle of a correction. Lets say you visit 4 times a year and stay for a week each time. Rent would costs perhaps $200 a day times 30 for $6000 total. If you were to own, the property taxes, insurance, HOA, maintainence, mortgage would be many, many times higher. The tax deduction is a drop in the bucket. I would understand if you planned to live there full time but you only want to use it as a vacation resort. Hope this helps.

[gizmo980]

Hi there,
I grew up in San Mateo, and now live in the South Peninsula... bottom line, a 1 bdr. condo in those areas will be around $350-500K and up. It totally depends on the exact neighborhood, size, amenities, etc.; but you can't get anything decent in the mid/north Peninsula for less than that.

If you want something a bit cheaper, consider the East Bay or South Peninsula... cities I'd recommend are Mountain View, Sunnyvale, Santa Clara, and Walnut Creek. But if you need to be closer to the city, South San Francisco (the town of), Pacifica, and Daly City are fairly affordable. San Mateo & Burlingame are great too, if the prices don't scare you! But be aware of neighborhoods, since the "good deals" are usually in sketchy parts of town - i.e. east San Mateo and parts of Daly City. Hope this all helps, and good luck!

[johninvegas]

Thanks Gizmo!

I have looked through the mls, but sometimes they don't really tell the story, especially when you are not quite sure of the areas to look at. We had assumed a minimum of 350k, but from what you are saying, we should probably consider 50 or 100k more in order to insure a "nice" area. Still cheaper than in S.F. proper. Of course, before buying, we'll take a survey trip to the area on one of our trips to S.F. We wandered around San Mateo near the bridge the last time we were in S.F. and really liked the area.

Henkelphoto

[Need_affordable_home]

I wish I was as rich as you guys that I had an extra $500k laying around to buy! I did let you know renting is far cheaper but "cheap" isnt a word in your dictionary! Enjoy your new condo!