Is buying a house now in Cali a fool proof investment?

jinduy

Diamond Member
Jan 24, 2002
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even tho i just got my first job and i can serioulsy not afford one and live comfortably...

what do you guys think?
 

KLin

Lifer
Feb 29, 2000
29,500
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You live in Irvine? How much are houses going for down there? about 750k for a 3 bedroom 2 bath?
 

ohnnyj

Golden Member
Dec 17, 2004
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Maybe a good investment, but an expensive one. It is difficult to find anything at a reasonable price in California.
 

amol

Lifer
Jul 8, 2001
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Originally posted by: jinduy
Originally posted by: KLin
You live in Irvine? How much are houses going for down there? about 750k for a 3 bedroom 2 bath?

if you're lucky.

yep

3 bedroom 2 bath is about $1.3Mil in this part
 

jinduy

Diamond Member
Jan 24, 2002
4,781
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Originally posted by: ohnnyj
Maybe a good investment, but an expensive one. It is difficult to find anything at a reasonable price in California.

expensive or not... do you think appreciation is guaranteed or close to 100%?
 
Mar 19, 2003
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Originally posted by: Amol
Originally posted by: jinduy
Originally posted by: KLin
You live in Irvine? How much are houses going for down there? about 750k for a 3 bedroom 2 bath?

if you're lucky.

yep

3 bedroom 2 bath is about $1.3Mil in this part

Man....

No matter how many times it's posted here, I still can't get over how insanely expensive real estate is in California...
 

OverVolt

Lifer
Aug 31, 2002
14,278
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91
i remember hearing real estate in cali is going to bust so.........



sillysalamanders
 

jinduy

Diamond Member
Jan 24, 2002
4,781
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Originally posted by: OverVolt
i remember hearing real estate in cali is going to bust so.........



sillysalamanders

i pray so... i pray so... it sucks hving to worry about buying a house damnit. just to live in!
 

KLin

Lifer
Feb 29, 2000
29,500
125
106
Originally posted by: jinduy
Originally posted by: KLin
You live in Irvine? How much are houses going for down there? about 750k for a 3 bedroom 2 bath?

if you're lucky.

Just did a search and found lots of 3/2 houses between 650-750 in Irvine.
 

amol

Lifer
Jul 8, 2001
11,679
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Originally posted by: SynthDude2001
Originally posted by: Amol
Originally posted by: jinduy
Originally posted by: KLin
You live in Irvine? How much are houses going for down there? about 750k for a 3 bedroom 2 bath?

if you're lucky.

yep

3 bedroom 2 bath is about $1.3Mil in this part

Man....

No matter how many times it's posted here, I still can't get over how insanely expensive real estate is in California...

it's going to go down soon . . . seriously . . .
 

So

Lifer
Jul 2, 2001
25,921
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Originally posted by: jinduy
Originally posted by: QuitBanningMe
You would be a fool to buy.

why? please enlighten me!! :D

THe market is at a peak. Buying now as an investment will probably be a good gun in the long term (30+ years) but in the short term, the bubble looks like it will burst any minute and you will find that you spent much more than you could sell if for in a little while. Wait...wait until there is a housing makret crash (there WILL be one, there always is) and buy when the market seems to be at the bottom of a long freefall. Then you can make a decent return in much less time.
 

MrCodeDude

Lifer
Jun 23, 2001
13,674
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Originally posted by: Amol
Originally posted by: SynthDude2001
Originally posted by: Amol
Originally posted by: jinduy
Originally posted by: KLin
You live in Irvine? How much are houses going for down there? about 750k for a 3 bedroom 2 bath?

if you're lucky.

yep

3 bedroom 2 bath is about $1.3Mil in this part

Man....

No matter how many times it's posted here, I still can't get over how insanely expensive real estate is in California...

it's going to go down soon . . . seriously . . .
They said that three years ago. We bought our house (5 BR, 3 BA) in 1995, it's more than doubled in value in these ten years.
 

KLin

Lifer
Feb 29, 2000
29,500
125
106
Originally posted by: BullyCanadian
just curious how much will it cost to build a new house, say 3 bdrm and 2 baths in cali?


Depends on your location. You can probably build a house in the San Joaquin Valley for about 200-250k.
 

jinduy

Diamond Member
Jan 24, 2002
4,781
1
81
Originally posted by: KLin
Originally posted by: BullyCanadian
just curious how much will it cost to build a new house, say 3 bdrm and 2 baths in cali?


Depends on your location. You can probably build a house in the San Joaquin Valley for about 200-250k.

interesting... so are you implying it would be cheaper to buy the land and then build a house? i guess then the hard part after that is actually finding land to build on.
 

KLin

Lifer
Feb 29, 2000
29,500
125
106
Originally posted by: jinduy
Originally posted by: KLin
Originally posted by: BullyCanadian
just curious how much will it cost to build a new house, say 3 bdrm and 2 baths in cali?


Depends on your location. You can probably build a house in the San Joaquin Valley for about 200-250k.

interesting... so are you implying it would be cheaper to buy the land and then build a house? i guess then the hard part after that is actually finding land to build on.

It could be cheaper than buying a tract home. But it's like you say, you have to find land first that is zoned for residential.
 
Dec 4, 2002
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Originally posted by: jinduy
Originally posted by: KLin
Originally posted by: BullyCanadian
just curious how much will it cost to build a new house, say 3 bdrm and 2 baths in cali?


Depends on your location. You can probably build a house in the San Joaquin Valley for about 200-250k.

interesting... so are you implying it would be cheaper to buy the land and then build a house? i guess then the hard part after that is actually finding land to build on in an area that you would want to live in.

fixed ;)
 

jinduy

Diamond Member
Jan 24, 2002
4,781
1
81
Originally posted by: CheapArse
Originally posted by: jinduy
Originally posted by: KLin
Originally posted by: BullyCanadian
just curious how much will it cost to build a new house, say 3 bdrm and 2 baths in cali?


Depends on your location. You can probably build a house in the San Joaquin Valley for about 200-250k.

interesting... so are you implying it would be cheaper to buy the land and then build a house? i guess then the hard part after that is actually finding land to build on in an area that you would want to live in.

fixed ;)

heh i stand corrected.