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Old 02-19-2021, 07:24 AM
 
Location: NYC & Media PA
499 posts, read 309,617 times
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Is there anywhere safe, and somewhat desirable to live in OC on a family income of $150,000 ? Would prefer a single family home but certain condos may be ok as long as they have atleast a private courtyard (but I always feel the HOA fees eat away at the savings).

My wife is originally from Pasadena, but that was 25 years ago, We live on the east coast and she wants me to look into this as that shes a bit fed up with the weather.

Thank you very much
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Old 02-19-2021, 09:53 AM
 
1,158 posts, read 455,153 times
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Quote:
Originally Posted by lpranger467 View Post
Is there anywhere safe, and somewhat desirable to live in OC on a family income of $150,000 ? Would prefer a single family home but certain condos may be ok as long as they have atleast a private courtyard (but I always feel the HOA fees eat away at the savings).

My wife is originally from Pasadena, but that was 25 years ago, We live on the east coast and she wants me to look into this as that shes a bit fed up with the weather.

Thank you very much
What can you afford for a down payment, that will be the key. Then where, if not from home, will you work?
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Old 02-19-2021, 10:29 AM
 
Location: San Diego
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If you can manage a min. of $150k down payment then that's definitely doable. The barrier of entry to own a home is why so many are leaving.
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Old 02-19-2021, 01:05 PM
 
Location: NYC & Media PA
499 posts, read 309,617 times
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I'm on pension right now but would be looking for another job which would push us over 150, My wifes job and my pension make up the $150,000. She works remotely so for her it doesnt matter where she lives.

I could probably put down between $150,000-200,000 depending on what our home back east sells for.

While our real estate taxes here are ridiculous (about $10,000 for a 1400 sq foot home) it looks like your RE taxes are lower but sales taxes are much higher.

QUOTE=Racer46;60438000]What can you afford for a down payment, that will be the key. Then where, if not from home, will you work?[/quote]
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Old 02-19-2021, 01:32 PM
 
Location: San Diego
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Well, if you buy a 800K or so house here (which is the min for a decent OC house) the property tax won’t be cheap. Not sure which part of OC you’re considering but it’s extremely slim picking in S. OC for anything under 850K.

I’m one of the many leaving because of the ridiculous cost of living.
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Old 02-19-2021, 02:38 PM
 
1,158 posts, read 455,153 times
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Quote:
Originally Posted by lpranger467 View Post
I'm on pension right now but would be looking for another job which would push us over 150, My wifes job and my pension make up the $150,000. She works remotely so for her it doesnt matter where she lives.

I could probably put down between $150,000-200,000 depending on what our home back east sells for.

While our real estate taxes here are ridiculous (about $10,000 for a 1400 sq foot home) it looks like your RE taxes are lower but sales taxes are much higher.

QUOTE=Racer46;60438000]What can you afford for a down payment, that will be the key. Then where, if not from home, will you work?
[/quote]
I did a quick check on Zillow and there are a lot of homes under $800,000.00 in So OC that are nice.
I put in Dana Point, CA and then removed the boundary and looked a bit North and east and a lot there that would fit your price and down payment. Up to $900,000.00 even more shown.
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Old 02-19-2021, 06:50 PM
 
Location: San Diego
2,983 posts, read 6,953,322 times
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Quote:
Originally Posted by lpranger467 View Post
If I wanted to stay between 5-6 I assume I'd have to look at condos ? Our payments here are about $2500 a month (taxes and insurance included), I'd like to stay close but I dont see that being realistic at $800 range even with low taxes
The HOAs offset the lower price. Look on Redfin and compare. OC HOAs are usually over $300.
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Old 02-19-2021, 07:37 PM
 
Location: NYC & Media PA
499 posts, read 309,617 times
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For taxes do I basically assume 1% of sales price as a rough figure as that all houses are reassessed to the sales price ?

Also, I may have to look at IE, My mother in law is in Ontario, I see some houses out there around 600, it wasnt my prefered area but we have pets so I'm not sure how well a condo would work.

Additionally, just in the investigate price phase now so not really ready to pull the trigger on this, just want to have ducks in a row when wife corners me on it over next few days.
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Old 02-19-2021, 07:44 PM
 
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Your price range will be attached condos in Irvine/Lake Forest/Tustin. HOA and mello roos will be quite a bit in Irvine so keep that in mind.
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Old 02-20-2021, 03:29 PM
 
1,158 posts, read 455,153 times
Reputation: 1247
Quote:
Originally Posted by lpranger467 View Post
For taxes do I basically assume 1% of sales price as a rough figure as that all houses are reassessed to the sales price ?

Also, I may have to look at IE, My mother in law is in Ontario, I see some houses out there around 600, it wasnt my prefered area but we have pets so I'm not sure how well a condo would work.

Additionally, just in the investigate price phase now so not really ready to pull the trigger on this, just want to have ducks in a row when wife corners me on it over next few days.
Typically only in older neighborhoods. New ones will have HOA's and Mello Roos (Secondary Property Taxes) which can come close to doubling the actual tax %
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