What area of LA is like the area in "Father of the Bride"? (Los Angeles: renters, houses)

[BluSpark]

Originally Posted by carrot

How do people do it in Cali?? My wife is a doctor and I have a masters degree, but there is no way we could afford 500k +. Do people just spend more of their income on housing in California, or do you get paid more there? Sure looks nicer there than Atlanta, that's for sure!

I like Bungalow Haven!

Yes to both questions but the salary differntial is NOT that great so people just plunk more of their income into housing than in other more affordable parts of the country.

[LisainCalifornia]

yes, you are house poor in California--but the house is a good investment, unlike other areas of the country. So when you scrape together enough to buy in good area, you just grit your teeth and do it. You may not have a huge savings account, but your house is your savings.

[BluSpark]

Originally Posted by carrot

How do people do it in Cali?? My wife is a doctor and I have a masters degree, but there is no way we could afford 500k +. Do people just spend more of their income on housing in California, or do you get paid more there? Sure looks nicer there than Atlanta, that's for sure!

I like Bungalow Haven!

I would think this would be very possible, esp. if you were both working. Granted I don't know your student loan/debt situation.

Pasadena is truly a GREAT area. It is a city with great culture, charm, and architecture. I wish more of SoCalif. had been built like Pasadena.

[BRinSM]

with the credentials your family has, you should be able to afford much more than $300k and not be house poor, unless you have significant debt. in that case, just save up for a few more years and you should be fine.

[carrot]

some debt...but honestly, daycare is a killer!

its funny, I hear a lot about sprawl in LA, but honestly it appears much better in layout than Atlanta (with all its cul de sacs and curvy streets)...LA looks much easier to navigate.

Thanks for all the responces!

[BluSpark]

Originally Posted by carrot

some debt...but honestly, daycare is a killer!

its funny, I hear a lot about sprawl in LA, but honestly it appears much better in layout than Atlanta (with all its cul de sacs and curvy streets)...LA looks much easier to navigate.

Thanks for all the responces!

Yes...LA is more dense and urban than common stereotypes would suggest.

Much of the City of LA is laid out on a grid (including the LA basin and the San Fernando Valley). The city's early development was initially on street car lines in the early 1900's (which were unfortunately all torn out by the early 1960's).

Pasadena is also lad out on a grid (for the most part).

[nmnita]

Originally Posted by carrot

How do people do it in Cali?? My wife is a doctor and I have a masters degree, but there is no way we could afford 500k +. Do people just spend more of their income on housing in California, or do you get paid more there? Sure looks nicer there than Atlanta, that's for sure!

I like Bungalow Haven!

what do you call small or Bungalow type? Are you willin got settle for say 1000 to 1100 sq ft? Do you have kids? A home that size would have no more than 2 bedrooms..

Pasadena, if you are looking for say 1500 sq ft or more will be out of the question. Where will your wife be working? Can you go out about 30 miles from Los Angeles in any direction? There were several home listed in areas like Rosemead just a few days ago starting at $450,000 for only about 1200 sq ft and no honest to goodness charm.

It is tough in So Ca. Most who live in those homes have lived there for years or have sold a home and made a killing.

Nita

[nmnita]

Originally Posted by LisainCalifornia

yes, you are house poor in California--but the house is a good investment, unlike other areas of the country. So when you scrape together enough to buy in good area, you just grit your teeth and do it. You may not have a huge savings account, but your house is your savings.

a good investment in todays market? Not true. We have a piece of property in Ca that was worth $350,000 a few years ago and now is worth about 200,000. My brothers small home in Simi Valley is worth about the same, but was worth about 500,000 not all that long ago. No, property used to be a good investment, but not so true anymore, especially in Ca. There are places in the country that haven't surffered as much as Ca. Will the market come back? Sure, but right now, God help anyone who needs to sell.

Nita

[sweettea1]

carrot, I am laughing because I currently live in Atlanta and would love to move to California. Unrealistic right now, but who knows. I keep a picture of the Father of the Bride house on my computer and look at it every day! In Atlanta you could get it for 300K but then again, location, location, location! If you're serious about moving there, you could rent for a bit and see how it goes. Some cute areas and rental prices are pretty decent in Hancock Park and also around The Grove. The Valley is cheaper too but it's hot as heck they say. Anyway, funny post.

[LisainCalifornia]

Originally Posted by nmnita

a good investment in todays market? Not true. We have a piece of property in Ca that was worth $350,000 a few years ago and now is worth about 200,000. My brothers small home in Simi Valley is worth about the same, but was worth about 500,000 not all that long ago. No, property used to be a good investment, but not so true anymore, especially in Ca. There are places in the country that haven't surffered as much as Ca. Will the market come back? Sure, but right now, God help anyone who needs to sell.

Nita

Nita,
You may be right--it may not be a good investment where you live or where your brother lives, but it certainly is where we live and own a home in the bay area. We bought for under 500,000 in '99, and now our home is worth double that.

Pasadena also is a solid investment. I agree some areas of California are suffering, so you need to be choosy where you buy.

Lisa