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My suggestion, in this case, would be to rent. Rent a single family home, rent an apartment.
That's simply not going to happen. I'm not paying 2500$ per month for a 3 bedroom apartment. So I should never have a chance at owning a home and should live in an apartment for the rest of my life in order to save an hour a day?
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We will forever disagree about this. Houses are not a great investment, if this is where the "profit" is coming from. History says they rise generally in line with inflation. If it wasn't for Bernake plus the FHA 3% down loan madness, prices would be much more reasonable.
Yes, but owning means you have a chance at building equity and owning outright.
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Under any financial scenario, cutting commute costs, and banking those savings in productive assets, would put you far ahead over time.
Again, no it won't.
Moving closer to work would cut my costs by about 250$ a month in gasoline. The housing triples in price. Rent would be nearly triple in some cases.
So if I went from spending 1500$ on my mortgage and an extra 500$ (which I don't spend) in commuting I'll come out ahead if I spend 3000$ on my mortgage and $100 in gas?? Yah, no.
So no, not under any financial scenario. Maybe if I lived in BFE.
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Nah. I'm just talking about the cost, not deductions, because we won't agree on what the cost per mile should be. The IRS says $0.56 per mile is a reasonable cost estimate. I agree. Perhaps you think it is something less. O.K., that's fine too. Whatever the number, your commuting costs are significant.
They're about 400$ a month.
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I understand basic finance. I also own my own business. There's always a way to make it work.
Doesn't seem like it.
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people are way behind where they could be, because a long commute, mathematically, never improves one's finances, because transportation costs are sky high.
Again, you have no idea what you're talking about.
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I've done the same. And I've put my theories into action. Because I have done so, the significant other and I can retire right now -- and I'm only 41. Part of the reason this was possible is because we lived close to work and had commutes that never exceeded ten minutes. Filling gas tanks once per month. Minimal maintenance. Not spending ridiculous amounts on overpriced real estate. All that money we saved: put into productive income producing assets. Now every month, we make money hand-over-fist for doing very little. It's the only way to escape the rat race, the absurd "system" whereby ordinary Americans think it is acceptable to throw away ten hours of their lives per week commuting to a cubicle with a computer screen.
That's great. That has nothing to do with me driving to work. For some reason you cannot grasp that not everyone wants to rent a one bedroom hole or live in the shady parts of town to drive 5 minutes to work.
That's simply not going to happen. I'm not paying 2500$ per month for a 3 bedroom apartment. So I should never have a chance at owning a home and should live in an apartment for the rest of my life in order to save an hour a day?
Yes, but owning means you have a chance at building equity and owning outright.
Again, no it won't.
Moving closer to work would cut my costs by about 250$ a month in gasoline. The housing triples in price. Rent would be nearly triple in some cases.
So if I went from spending 1500$ on my mortgage and an extra 500$ (which I don't spend) in commuting I'll come out ahead if I spend 3000$ on my mortgage and $100 in gas?? Yah, no.
So no, not under any financial scenario. Maybe if I lived in BFE.
They're about 400$ a month.
Doesn't seem like it.
Again, you have no idea what you're talking about.
That's great. That has nothing to do with me driving to work. For some reason you cannot grasp that not everyone wants to rent a one bedroom hole or live in the shady parts of town to drive 5 minutes to work.
I agree that who wants to live in some one bedroom or studio thats overpriced just to be close to work.
But on the other end, who wants to spend close to 3 hours per day commuting? Yeah plenty of people from all over are forced to do it, but it doesn't mean anybody likes it.
Spending close to 15 hours per week commuting over a number of years takes its toll. You can make whatever excuse or claim, but it's not fun to be stuck in traffic or traveling to/from work over and over and over and over. Pretending that it's no big deal makes no sense. I mean after awhile do you really know anything about the neighborhood you actually live in? If you leave before 7am and get home after 7pm day after day for years, the reality is your 'neighborhood' isn't actually where you live anymore. You spend most of your time away from home. And yes many people do this, but at the same time, if you're not making big bucks and have a plan for attack for the future, you're kind of just wasting away your life commuting back/forth.
There are plenty of people who work in Silicon Valley or NYC who live far away from work. They spend 1.5 hours commuting each way in a car, a train, car pools, etc. Many people are making big bucks and live in better school systems. Other people are 'working their way up the ladder.' Others are hoping that the startup or hedge fund makes them wealthy. And in the grand scheme of things, it's more a shorter term plan than a longer term plan. Or they get to a point where they only commute to work 2 days a week or something. Planning to live so far from work where it'll take you 1.5 hours each way and have no idea about making your life easier in the future, is just a quick way to burn out from everything.
Think about 15 hours per week stuck in a car. Yes you can listen to audio books. You can stop off. But that's still 15 hours a week that are really a waste. That's a lot of time to waste every week and if you do that long enough, you'll be like most people who are forced to commute long distances. And that's grumpy. Lots of people commute long and far and lots of people also are miserable. Who really wants to be that just to live in a bigger house.
Several yrs back, my husband on Camp Pendleton so we bought a lovely home in Temecula. We lived there three years, and during the last year we had a baby and my husband took a job in SD. He did the commute for about 8mos ...... anyway, he got to a point where he just couldn't do it anymore
So we bought a condo in Otay Ranch. Quite nice really (granite, plantation shutters, wood floors, new carpeting, etc...) but well, it's still a condo. No yard, up and down stairs with groceries and laundry. Close to other people. We don't have a view of anything from a single window. Seriously, ALL of our windows look directly into someone elese condo.
We've been here (Otay Ranch) for a couple years now and my husbadn recently said he'd like to move back to our Temecula place. My daughter is now three and he'd like her to have a backyard. He'd like to have somewhere to get a decent sized Christmas tree, and decorate for the holidays. My mom and other family members used to come and stay often when we had a guest room. Both of us have no room for our hobbies here in the condo. I miss having a coat closet, a tub I can take a bath in, closet space. etc...
But at the end of the day - I just don't see the commute as being do-able for my husband. He's pretty set on moving back though ..... he sees the commute as a fair trade off to the things we could provide for our daughter by moving back to the house.
The commute is not really that bad. I average 55 min in the morning and 1:10 in the afternoons. It'd be under an hour if I didn't have to drive through the temecula corridor during rush hour.
In Hawaii it would take me an hour to go 18 miles because of congestion.
The thread is TL;DR, but figured I'd offer my two cents: if you're in the region to actually be "in" San Diego and enjoy what the area has to offer, then it's not worth it.
If you're in San Diego for work, then perhaps it makes sense if you value a larger home that much. But at that point, it might be sensible to find an area where you could have both a large home and a similar, good job close by.
but figured I'd offer my two cents: if you're in the region to actually be "in" San Diego and enjoy what the area has to offer, then it's not worth it.
What does San Diego have to offer? The beach? I can drive there in 40 minutes and the waves in San Diego aren't that great anyways. The water is freezing too.
I know more California Natives who live inland because they were priced out of their hometowns then I do people who were born and raised and still living in San Diego.
What does San Diego have to offer? The beach? I can drive there in 40 minutes and the waves in San Diego aren't that great anyways. The water is freezing too.
I know more California Natives who live inland because they were priced out of their hometowns then I do people who were born and raised and still living in San Diego.
It's pretty clear that you don't value living in a major city. And that's fine -- different strokes for different folks. Growing up in San Diego, I liked knowing that I could take a quick drive to Balboa Park and soak in the variety of culture the area offers. I enjoyed the reasonable walk it took to go surfing in the morning (yeah, the waves are mediocre -- but then try East Coast waves like I've dealt with for the past few years). I liked being able to be in a major city, to attend and revel in relevant sporting events. I enjoyed knowing I lived in a major city with great weather, where there's options for everyone and everything (even if I was in a suburb).
If those things don't matter to you, that's cool. But at that point, why not just find a job where you can have a big home and reduce commute? There's (pretty much) the remaining 49 states that have cheaper options...
If those things don't matter to you, that's cool. But at that point, why not just find a job where you can have a big home and reduce commute? There's (pretty much) the remaining 49 states that have cheaper options...
Places I could go for my career:
DC = Worst commute and traffic. Much more expensive
VA = Same as DC
Hawaii = Same as above
Hawaii (where I grew up) costs more than San Diego and the commute is just as bad or worse to most places on the island. I know some that spend 1.5 hours each way in Hawaii.
My wife's family is from California. I like living here but I don't really value south county San Diego all that much with the exception of my jobs so I can't move.
I'd live in Carlsbad or Encinitas area, but again, the drive would take almost just as long because of traffic and where I work.
DC = Worst commute and traffic. Much more expensive
VA = Same as DC
Hawaii = Same as above
Hawaii (where I grew up) costs more than San Diego and the commute is just as bad or worse to most places on the island. I know some that spend 1.5 hours each way in Hawaii.
My wife's family is from California. I like living here but I don't really value south county San Diego all that much with the exception of my jobs so I can't move.
I'd live in Carlsbad or Encinitas area, but again, the drive would take almost just as long because of traffic and where I work.
Do you work in the public sector (or defense contracting)? If so, there's also VA Beach and a handful of other options. If you work in the private sector, then I don't particularly pity you, since you could relocate anywhere if you found a suitable job...
As for comparing Carlsbad/Encinitas to Temecula in terms of commute, fair game. Although I personally enjoy/appreciate the feeling of being within city limits. Carlsbad to San Diego during the weekend is fine, but Temecula to San Diego for something on the weekend is still intolerable (IMO).
Sidebar: I live in DC, and traffic's not that bad depending on where you live and where you work. But the DC/NoVA area is more expensive than San Diego, so moot point.
Do you work in the public sector (or defense contracting)? If so, there's also VA Beach and a handful of other options. If you work in the private sector, then I don't particularly pity you, since you could relocate anywhere if you found a suitable job...
As for comparing Carlsbad/Encinitas to Temecula in terms of commute, fair game. Although I personally enjoy/appreciate the feeling of being within city limits. Carlsbad to San Diego during the weekend is fine, but Temecula to San Diego for something on the weekend is still intolerable (IMO).
Sidebar: I live in DC, and traffic's not that bad depending on where you live and where you work. But the DC/NoVA area is more expensive than San Diego, so moot point.
I work for the Navy as a GS. I'm also a reserve Navy Officer. In order to stay on my career track then I need to be near certain places. So that basically leaves DC, San Diego and VA.
I won't say the drive is fun or doesn't suck. But, it's not terrible to the point that I would quit my job and move. It's just one of those things you learn to live with.
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