buying dilemma

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<p class="MsoNormal">Personally, I’d find a roommate, rent and continue saving even more money. </p>

In the future, when you decide to buy it will be an exceptional place. Rather than buying a mediocre place now and regretting it later. Either way, move out of your parents house asap. There’s no way you can successfully bounce and close girls there.
 
I agree with most people here. You could either way between living at home or moving out and renting but I would also suggest do not buy. Seems like there will be some great newer properties available in 2010 or so. Either the brand new stuff or you may be the second owner in the brand new stuff being sold now. I am in the same dilemma as you (graduated just under 2 years ago), but probably still have a few more years of saving to go.
 
Living at home you could save like crazy. Figure you can save the same amount as rent or a mortgage, that's $25,000 a year. In ten years you at least $250,000 even if you put the money in an investment that is so bad you have 0% return, and $500,000 with 12% annualized return on your investments. With that money you'd have a lot of options at age 35.
 
Rent a nice condo in a high-rise. Chicks dig it. Really. Get out of the house. That is a big killer in the "meet a girl scene." And make sure you drive a nice car....without blowing all of the $$$ you have saved. As mentioned above, you are only young once. This is so true. When you get going on the family thing, look for the SFR then... there are so many more considerations at your age than the sheer economics of it.
 
In OC, it's common to live with your parents in your 20's. But if you can afford it, move out and rent a place. Get a very good feel of where you would like to live (away from home) before you buy. Personally, I have lived in Tustin, Irvine, Costa Mesa, Santa Ana, Fountain Valley, Westminster, Garden Grove, and Anaheim. And now that I am ready to settle down, I would definitely want to live in either Irvine or Fountain Valley. We've always wanted to try out Newport or Huntington, but I guess it's too late now. Try renting somewhere you have always wanted to live to see what it's like.
 
yes, go buy a sweet condo in urban irvine. furnish it with awesome stuff like a kegerator and movie poster from swingers autographed by vince vaughn. find a great deal on a porsche 911 on swap-a-lease or craigslist from some former hotshot RE guy. yes, the chicas will dig you. and then you'll find the one thats right for you.



and she make you get rid of your sweet condo, buy a sfr, and replace all your cool posters with prints of orchids.
 
<p><em>And make sure you drive a nice car</em></p>

<p>By the time she sees your car, she's already decided whether or not you're gonna get to "close the deal." If the car does sway her, trust me, you <strong>don't </strong>want her around.</p>
 
<p>If the car you drive becomes a hurdle preventing you from closing, tell her you scored tix to Good Charlotte or Blink182. </p>

<p>If all else fails, keep the TAG Body Shot spray handy. </p>

<p>Go with the All Nighter Scent...Grrr!!</p>
 
I'm renting and totally loving it. It's freedom. Also, I don't think I'm ready to "settle" yet.



Could easily blow my savings on a 1bed condo, but then will have to deal with taxes, insurance, HOA's, and the monthly payment.



It's kinda fun to watch the new homes listing pop up and see how many days the other homes have been on the market.
 
financeguy,



I lived with my parents for 1 year after graduating, and although it was worth it finacially, it was social suicide. This is my recommendation for you.



Move out. Move to newport, NYC, LA. You're young! Live it up and get the F out of Irvine. You'll have the rest of your life to live in Irvine if/when you decide to start a family. Move out, get a roommate and live below your means. Save up your money, invest it well, and buy a place when you decide to settle down.
 
After graduating, I lived with my parents for 4 years. This will be my fifth and final year before we move out and rent in 2009.



It was tough, definitely killed any plans to host friends and just plain inconvenient. But in return? My SO and I would have saved almost $200k for a wedding, 2 cars, house downpayment, new furniture, emergency cash and a remodeling fund.



This doesn't include our regular contributions into 401k/IRA and spending a mini-fortune on photography gear (our hobby).



Like what QHBruin said (btw, my SO is also a Bruin), do what YOU need to do but live below your means.
 
Arcadian ,





live at home for 5 years = 200K





Seems like a good trade-off to me. Sounds like things are good in your life, well except the fact that you SO is a Bruin, but hey, you cant have everything in life.



 
FG,





Lived at home after graduation myself. I was trying to get my brother to go in 50-50 in buying a place. Boy am I glad we didn't do that! Would have bought in the middle of the bubble. I saved a bunch of cash, really grew closer with my parents and spent much more quality time with them, and had luxuries like food all the time if I wanted any. Of course, the social life suffered, but there's always trade-offs.





I moved out a lil while ago, am renting, and loving it. I still manage to save my money for a down payment, but am "free" to do what I want, and I get to have my fun too. Realizing that I don't want to be bogged down on a 30 yr mortgage is really apparent to me now. I'll be waiting a lil while longer before I try to buy.





If you want some place more "alive" than Irvine, come to NB, Costa Mesa near Newport Blvd, or something like that. Definitely more people, more places to hang out (bars... ahem), etc.





Just my $.02
 
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