condo..or live at home

petejk

Senior member
Apr 6, 2002
463
0
0
I'm deciding whether I should get a condo..or live at home still.

I live down here in so cal and since prices are quite pricy, I was
considering getting a 2 bed 1 bath condo..

Should I get the condo or continue saving.

Pros of condo: Condo..bring friends n gf over and have freedom
Pros of living at home: Freeloading = save $$$
 

monk3y

Lifer
Jun 12, 2001
12,699
0
76
How old are you and are you working or going to college? Give some of those details.
 

gistech1978

Diamond Member
Aug 30, 2002
5,047
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i guess the question then is how much is your 'freedom' worth to you?
if its worth the rent, utilities, food etc etc, then go condo, if not stay home.
 

petejk

Senior member
Apr 6, 2002
463
0
0
I've been out of college for 2 years...i also would be splitting the mortgage with my brother...with have a combined gross income of 70-80k+...
 

petejk

Senior member
Apr 6, 2002
463
0
0
My freedom is worth alot...especially since, I've never left home.
I've never been on my own...and really want to do it....plus being the age
of 24...it think its time!!
 

thomsbrain

Lifer
Dec 4, 2001
18,148
1
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Originally posted by: petejk
My freedom is worth alot...especially since, I've never left home.
I've never been on my own...and really want to do it....plus being the age
of 24...it think its time!!

sounds like you convinced yourself ;)
 

slick230

Banned
Jan 31, 2003
2,776
0
0
Originally posted by: petejk
My freedom is worth alot...especially since, I've never left home.
I've never been on my own...and really want to do it....plus being the age
of 24...it think its time!!

Holy fvck, man, get out of the house already! Your folks want to shag nasty like before you were born, and you're ruining the mood.
 

ivol07

Golden Member
Jun 25, 2002
1,475
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What part of So. Cal are you in? $70k - $80k a year won't be able to buy you much in some places. Unless you have a huge down payment. Prices over here are insane (as I'm sure you know). I heard on the news $570k is the median house price in Orange County. Including Condos and Townhomes.
 

petejk

Senior member
Apr 6, 2002
463
0
0
definaltely agree..i live in OC...in the hills somewhere nice w/ my parents...
i plan to move to diamond bar....because its cheaper for a condo....from 200k-235k

there is no way i could afford to live in the decent parts of OC for that much
 

BoyFreak

Member
May 16, 2001
27
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with only 200k-235k, that would get you a condo in Santa Ana. You gotta get out of OC, if you don't mind the commute look towards
Riverside area, even those places are increasing in price tho. I'm just trying to save and wait for the market to crash so that i can
pick something up for cheap when it does.
 

BillyBatson

Diamond Member
May 13, 2001
5,715
1
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lmao i am in this same boat man! stay in the AF and live on my own in an apartment off base OR get out the AF move back to *cough* socal and have to live with my mom again while i work and go to school!!!

funny thing is i was just looking at my DVD stand and i thought "at home that stand will just sit in the corner of my bedroom and never get added to while in an apartment it can be next to an entertainment center and get added to"
i know, not a major epiphany but it made me realize i want my freedom and my own space to do what i want with.

if the condo is within your means then i would suggest that.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
No brainer: stay at home IF your parents are not dickheads; ie. you could bring a girl back without them asking too many questions.

Also, there is no point in staying at home if you'll just blow the money that you should be saving. If you save it you should make do with that free rent.
 

Rumpltzer

Diamond Member
Jun 7, 2003
4,815
33
91
I don't know where Diamond Bar is. I'm not native to CA...

What I'm thinking, though, is that you might want to consider what a place in Diamond Bar will get you as far as an investment is concerned.

My friend in the Bay Area bought a crappy townhouse for $300K half a year ago. She says that part of the closing procedure was that she could see what the sellers had bought the place for 5 years before selling it to her. They paid $175K! That's quite a return on their investment... but then they had to pay more for some other place.

Other than your freedom/privacy, would buying a condo be in your financial interest?
 

Looney

Lifer
Jun 13, 2000
21,938
5
0
Originally posted by: petejk
I'm deciding whether I should get a condo..or live at home still.

I live down here in so cal and since prices are quite pricy, I was
considering getting a 2 bed 1 bath condo..

Should I get the condo or continue saving.

Pros of condo: Condo..bring friends n gf over and have freedom
Pros of living at home: Freeloading = save $$$

If you're just living alone, then just live at home. If you're going to share the rent with a roommate or with a gf, then moveout.