Why I'm f@wked in CA

[tjZ28]

@bics56

He said he can “afford” a house for $300+K…(btw that is for a very avg home, somewhat nicer ones run like $400-$500K) but he would be pretty much house poor. Figure is you make $100K/yr after taxes and 401K you will take home roughly $2,000 every 2 weeks. Then a mtg on a $325K house is roughly $2K/month…then add in real estate taxes and other basic household expenses…and 3/4 your take home goes tot he house alone…then add in other expenses and next thing you know you are living paycheck to paycheck. Now for a married couple with a combined income of like $150+K then it would be realistic.

What you explained sounds a lot like what people do to live in certain parts of CA. From what I hear it is not uncommon to commute 1.5-2 hours each way. I never understood why people would want to live in a place where the cost of living makes it where you have to make $300K/year to live somewhat comfortable. It sounds like you need to stay with the parents and bank a ton of $ and have a huge down payment…where you can keep your payments at a point where you can live and still have some fun. Whatever you do, good luck!!

Yup, it’s not uncommon for ppl to commute ~2hrs or even more each way out here. Insanity, and just not worth it to me. I’d rather enjoy my life than buy something just for the sake of buying.

I have the option of staying with my parents if I want (I rent a house right now). But again, what am I willing to do just for the sake of buying. Being 26 and living at home isn’t one of those things. In all reality the split of my rent for my house is very reasonable and wouldn’t be “the” difference. Just like selling the 'vette wouldn’t be “the” difference. Selling the Lexus wouldn’t be “the” difference.

Really it’d have to be all those things AND then some, just to buy something that’d still be an hour or more commute each way. Plus, I don’t really pay for my Lexus, I have very little benefit in selling it unless I get a '06 Cobalt for like $5k or something (still new enough to qualify for my vehicle reimbursement plan through work, which is a flat-rate + mileage and does not change based on the car you have).

It’s all possible but I’ve had friends go down this road (sell everything and live like they have nothing for a few years) to buy a house. None of them were happy in the end. But maybe they will be in 10 more years…

@77rednecktruck

I would rather have a house I can afford comfortably than a huge ass house that leaves my living paycheck to paycheck. I lived like that for a while, it’s not fun.

I like where I am at now, I paid for my house what I make in a year.

TJ - good luck on finding a house. I wouldn’t mind the 4 hours of travel time if I had your vette to drive everyday though. :love:

Haha, thanks!

I agree, I don’t want to be paycheck to paycheck etc. But out here it’s not like I have the option of a ‘reasonable’ house that’s I can afford vs. stretching for a huge ass house. It’s more like a tiny ass house in a “so so” are that is still a massive stretch. Haha.

-TJ