Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-12-2010, 09:44 PM
 
28 posts, read 69,586 times
Reputation: 23

Advertisements

Need help with a big decision...


I am in my early 40's, am unmarried (ready to start looking for a wife!), and am at a bit of a crossroads. I am currently in the DC area, having moved here 2 yrs ago. Before that, I lived in Southern California. My salary will be around 75k +, and I do not have any kids.

In a few months, I have the opportunity to move back to California (a big part of me misses the weather!), BUT, my dad has made this decision difficult. In order to try and keep me on the east coast (where my parents and brother live), he has offered to turn over his condo in Riverdale to me (it overlooks the Hudson - top floor - nice highrise) so that I can start building equity. If I move back to CA - I'll have the sunshine, but I'll still be a renter. To be honest, I would likely not have any chances of owning a home...unless I find a rich wife!

I've got to decide in the next 8 weeks or so, as job offers in both CA and NY will be coming in. I've got to make a decision. Sunshine/beautiful weather, or nice 2 bedroom condo to myself and begin building equity? [LEFT]
Thoughts? Must admit, my heart lies in So Cal!
[/LEFT]
Reply With Quote Quick reply to this message

 
Old 02-12-2010, 09:56 PM
 
96 posts, read 284,359 times
Reputation: 158
Neptuneaus, listen to your Dad. Sunshine goes only so far plus it doesn't pay the bills!
You're fortunate to have somebody looking out for you in these tough economic times.
Look at the California Board again.
Best of luck.
Reply With Quote Quick reply to this message
 
Old 02-12-2010, 10:14 PM
 
Location: The High Seas
7,372 posts, read 16,017,645 times
Reputation: 11868
Move in to the condo, find a look-a-like, charge him rent, and then move to CA.
Reply With Quote Quick reply to this message
 
Old 02-12-2010, 10:25 PM
 
10,624 posts, read 26,739,553 times
Reputation: 6776
If it was me? I'd stick with New York and the condo and take vacations to LA.
Reply With Quote Quick reply to this message
 
Old 02-12-2010, 10:40 PM
 
Location: Santa Barbara, CA
1,153 posts, read 4,559,734 times
Reputation: 741
Eh, do whatever will make you happy. You seem to be doing well financially in either case.
Reply With Quote Quick reply to this message
 
Old 02-12-2010, 10:57 PM
 
9,527 posts, read 30,480,690 times
Reputation: 6440
75k will get you nowhere in CA. You have a free apartment in one of the greatest cities in the world. Take it.
Reply With Quote Quick reply to this message
 
Old 02-13-2010, 12:41 AM
 
3,393 posts, read 5,280,058 times
Reputation: 3031
Take the condo and buy a sunlamp.
Reply With Quote Quick reply to this message
 
Old 02-13-2010, 02:10 AM
 
1,465 posts, read 5,147,704 times
Reputation: 861
You mention if living close to your parents/brother is a plus or a minus?

You didn't mention the terms of the condo. I assume "turning over" doesn't mean it is paid for otherwise you probably would have used different words like, "he would give me his condo".

You didn't mention which part of Southern California. The beach, mountains, desert, rural, suburban, or city? There is quite a variety.

I like New York and California. To be near my family would be a plus. The weather in California is a plus for me.
Reply With Quote Quick reply to this message
 
Old 02-13-2010, 09:26 AM
 
28 posts, read 69,586 times
Reputation: 23
Thanks everyone for your thoughtful responses. I suppose I didn't clarify, but I will not be living rent/mortgage free -- I would be assuming the mortgage payments. That said, it makes the process considerably easier than applying for a mortagage on my own (obviously).

JimCali -- point well taken! You are right about me being lucky in these difficult times.

Snort -- I am on the hunt for a look-a-like!

Jay -- I hear you regarding the sunlamp idea! I think some nice tropical pictures on the walls to accompany would be great too!

NYMTMan -- Thank you for that!

Uptown_Urbanist -- Very sound and practical advice! I can always vacation there.

DowntownVentura -- I have lived along the coast in San Diego and in the LA area (Santa Monica) and would now ONLY move back if I could live at the beach. Not worth it to me, otherwise. I am very close to my family, though, which would complicate the situation (the are all here on the east coast).

Sassberto -- While the place in NY would not be free, I'm sure it would be reasonable . Regarding 75k, having lived in CA for 10 years, I know that it's not much, but you can definitely get by on that income -- although you are right, I would certainly not be rich!

Still deciding -- and am sure I will not make the decision today.
Reply With Quote Quick reply to this message
 
Old 02-13-2010, 09:42 AM
 
Location: SW MO
23,593 posts, read 37,484,310 times
Reputation: 29337
Quote:
Originally Posted by Neptuneaus View Post
Still deciding -- and am sure I will not make the decision today.
While you're deciding, think ahead a few decades when you will be considering retirement. A paid for home or one in which you have considerable equity will go a long way towards making your retirement comfortable and stable. Would you have that if you moved to California?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California
Similar Threads

All times are GMT -6. The time now is 05:37 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top