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Old 06-02-2020, 05:15 PM
 
Location: Placentia, OC
1,463 posts, read 1,544,005 times
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Fullerton or Garden Grove
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Old 06-05-2020, 11:58 AM
 
Location: OC
8,449 posts, read 4,807,117 times
Reputation: 6497
What is Orange like?
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Old 06-07-2020, 02:56 PM
 
Location: Sputnik Planitia
6,929 posts, read 9,709,533 times
Reputation: 7617
Quote:
Originally Posted by Gaylord_Focker View Post
I have the option of moving to OC.

Rental budget is 2500, hopefully 2 or 3 br
Housing budget is around 600-700, has to be a 3br.
2500 for a 2bd seems doable, 3bd is doubtful. 600-700 isn't realistic, budget 850-900k if you want a 3bd in a good neighborhood with a decent choice of inventory. Prices have gone up sharply in the last few years - for instance my good buddy bought hist 3bd, 1700 sqft in Irvine for 725K in 2016, now it's 850K.

Remember that the tax basis on a 900K home is going to be killer and you're going to lock that in. Hope you have a job that makes a TON of money (businessman, executive like a CEO, corporate lawyer, brain surgeon etc.) otherwise you're going to end up seriously house poor which a lot of people find themselves in.

My metric is that I use the 3X rule with 20% down plus 5% in free cash for initial expenses, so on a 900K home, you need to have quarter million dollars in cash upfront just for expenses unless you want to have some serious ongoing expenses like PMI. Also don't forget HOAs and Mello Roos taxes which can be killer in certain areas.

And don't forget 12 months of Emergency fund which means even more cash stashed up, especially during this pandemic when people are getting laid off left and right.

Buying a home in OC area isn't for the faint of heart or for people with lighter or average wallets, it requires some serious amount of financial firepower and shock and awe.

Last edited by k374; 06-07-2020 at 03:05 PM..
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Old 06-08-2020, 11:17 AM
 
458 posts, read 234,545 times
Reputation: 524
Quote:
Originally Posted by Gaylord_Focker View Post
What is Orange like?
It has some charming areas around downtown and some nice suburban type homes east of the 55, but overall the schools are ranked pretty low. I liked Orange but the schools were a deal breaker for me.
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Old 06-12-2020, 07:22 PM
 
Location: OC
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Originally Posted by kishac View Post
It has some charming areas around downtown and some nice suburban type homes east of the 55, but overall the schools are ranked pretty low. I liked Orange but the schools were a deal breaker for me.
I saw a couple of decent schools, I guess same can be said about Anaheim right? I know stanton is the hood, but a couple of their homes rolled up to great schools.
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Old 06-12-2020, 07:52 PM
 
458 posts, read 234,545 times
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Quote:
Originally Posted by Gaylord_Focker View Post
I saw a couple of decent schools, I guess same can be said about Anaheim right? I know stanton is the hood, but a couple of their homes rolled up to great schools.
I don't know much about Anaheim schools other than the higher ranking ones being in the Anaheim Hills part. Anaheim Hills does get a little hotter than most parts of OC.

If you have a family of four and work from home then it might be worth taking a look at Lake Forest/Mission Viejo. They aren't that far from the cluster of asian businesses off Jeffrey rd in Irvine. South Orange County overall looks like a safer environment to raise a family.

Good luck
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Old 06-12-2020, 09:34 PM
 
Location: San Diego CA
301 posts, read 92,778 times
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Quote:
Originally Posted by Gaylord_Focker View Post
What is Orange like?

My sibling lives there, wildfires come to mind.

What about further south like San Clemente? The air seems to get cooler around San Clemente or after Oceanside on the 5 south, I know that feeling when the heat breaks from driving back from Irvine.
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Old 06-12-2020, 10:27 PM
 
Location: OC
8,449 posts, read 4,807,117 times
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Quote:
Originally Posted by rosebud49 View Post
My sibling lives there, wildfires come to mind.

What about further south like San Clemente? The air seems to get cooler around San Clemente or after Oceanside on the 5 south, I know that feeling when the heat breaks from driving back from Irvine.
Thanks. We're gonna look next weekend.
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