[quote author="tmare" date=1253700901][quote author="Geotpf" date=1253676761][quote author="hs_teacher" date=1253664455]Wow... that's quite a bit of information. Basically, he's a 25 year old accountant with a budget of 300K. His parents insist that he buys a 3 bedroom house with a yard... they think it'll make more sense in the long run. I think he should buy a 2 bedroom condo in a better neighborhood and move up to a SFR after getting married and having kids. I'll just have to wait and see how he proceeds...</blockquote>
That actually is an interesting question. Considering today's low prices and low interest rates, which is better, buying an inexpensive condo now and moving up to a house in a few years, or just going straight to buying the house now? Personally, I think the second is a better move. Interest rates and prices are near their absolute lows-they may still be low later, or they may rise. Plus, add in transaction costs (6% commission twice (once directly (house purchase), once indirectly(condo sale)) when you move up), the cost and hassle of moving, and going straight to the house makes sense to me-if one can afford the monthly payment from the start. Paying the extra commission alone makes it a bad deal, IMHO, and there's no telling where interest rates will be in a few years.</blockquote>
Hmm..........."his parents insist". Sounds like the parents have some financial input. It truly doesn't make any sense for a 25 year old single guy to strap himself down to a house and yard, I have to agree on that point. Unless he is going to be married soon and wants to start a family, he's going to regret this decision. If the parents aren't paying for something, he should just be honest about his own needs. If the parents are paying, I guess none of us gets money with no strings attached.</blockquote>
Yea, I agree. My other half and I got a place actually at Colony Park in Anaheim, the new condos. We moved in about a week now and I'd have to say that I love it so far. =) We actually got the Legacy with the 4bed/4bath. It's such a big place for just only the two of us that we're considering renting out the rooms. We're such busy professionals that we don't even have the time to take care of the lawn and that was one of the reasons why we went with a condo. I've noticed that there's actually a lot of Asians in this neighborhood. We also have some friends that bought a place here, so it's nice to know that we have a bunch of neighbor friends around. Heck! Block party!!
Anyhow as for as school, I wouldn't have my kids attend school there. I used to live in Anaheim and went to Dale Jr. High and I didn't like it. Parents moved me out to Irvine to attend school there and I still didn't like Irvine either, but it feels much safer. Now that I know of the Oxford Academy, I'm a bit more excited. I just hope I pop out a bright one. LOL!