Since we’ve been growing our family at a faster rate than our house will support (having twins can do that), we’ve been looking for a new place to call home. I don’t know if you’ve done this lately, or if it was a frustrating experience for you, but here’s the general problem:
The houses that we love; we can’t afford.
The houses that we can afford are either too small, need too much work, or are in neighborhoods that are questionable.
So this has been going on for some time, and let me tell you, it’s been very frustrating. Until this morning.
This morning, I heard a story on the radio about home prices in California. Now, I’ll readily admit that living in California has certain benefits not found here in Indiana. The ocean comes to mind. The weather, hills, and redwoods, too. But factoring in all of the good stuff with all of the bad (like O.J., earthquakes. mudslides), I can’t imagine living there.
It’s recently been reported that only 18% of the population in California can afford a median-priced home, and the average home price has now topped $500,000. Lest you think otherwise, the amount of house that half a million buys isn’t much.
So, all in all, while the plight of Californians isn’t really making this process any less frustrating for me, it does help to put things into some perspective.
As a homeowner in southern california, all I can say is I’m glad I got in when I did. Now I just sit back and watch the absurd inflation occur, waiting until the time is right so I can sell out and move to a cheaper place. It hasn’t been a picnic, but it’s probably the luckiest investment I ever made.
I’m in n. cal and there is no way we could own a home here w/o a financial miracle. It isn’t even practical it’s so high!
And here we are, 20-somethings, living in So. Cal. and we own a 2-bed, 2-bath condo.We don’t want to live in a condo our entire lives, actually for only another 3 years..Guess we’ll need a miracle as well..
Consider Western Kentucky. 🙂 Not only is this a pretty area, quite friendly, and way closer than CA … but you can still get a nice 3-4 bedroom 2 bath home for less than $150,000. 🙂 Sometimes, depending on where you live, you can find them for less than $70,000.
You have a great familly Jim, good luck to all of you! 🙂
I have to agree with Ken…we got in 4 years ago, and our house was 1/2 the cost of the “median range” now…thank the heavens above that we did. Our house is now worth 2x as much and we will probably NEVER be able to move…but yes, the weather is fabulous here in sunny san diego…and hey, I will take an earthquake once or twice every 5-10 years over tornados and hurricanes yearly! LOL
$70,000 HA! You can’t even buy a single wide mobilehome from the 70’s here.
Well all I can say is that I will be feeling your pain in a couple years when I retire from the Navy. I’m looking for a place to raise my family that is safe. I’ve lived in Southern California; I think Texas is better, definately more affordable.Keep us posted, best of luck to you.