A few weekends ago, DH and I went to see some of the model homes in GP and PS. Many of the 'affordable' ones were already sold or only had one or two units left at the increased price in the high 600s - 800s (I believe you can still find the initial advertisements saying 'starting in the mid 500s'.) Anyway, it seemed there were plenty of options in the 900k - 1.8m range and...yeah, that's not happening for us right now ;D. Early 30s, DINKs, long time Irvine renters, Gov IT and Biotech jobs. I'd be comfortable with 500k (still semi do-able in Irvine...at least this week.)
Anyway, my question is: what types of employment do these buyers have? Where do your neighbors work? Are all y'all doctors and lawyers? IT?
FCBs? Did mom/dad/grandma help? Upgrading from a starter home? Great investments? Saved penny by penny? Just got in at the right time? Breaking Bad money? Bahaha, you get the point.
Also, would you say most owners in Irvine are comfortable paying their Total Housing Payment? Let's say your THP is $5K (principal, interest, property tax, HOA, insurance) for your 882k house. Is your (+ your partner's) monthly take-home pay really $11-14k (35-45% pre-tax - traditional model) to $20K+(25% after-tax - conservative model)? I definitely have friends with a THP of $4k, 1-3 kids, and a total take-home pay of $5-6k
TIA!
Anyway, my question is: what types of employment do these buyers have? Where do your neighbors work? Are all y'all doctors and lawyers? IT?
FCBs? Did mom/dad/grandma help? Upgrading from a starter home? Great investments? Saved penny by penny? Just got in at the right time? Breaking Bad money? Bahaha, you get the point.
Also, would you say most owners in Irvine are comfortable paying their Total Housing Payment? Let's say your THP is $5K (principal, interest, property tax, HOA, insurance) for your 882k house. Is your (+ your partner's) monthly take-home pay really $11-14k (35-45% pre-tax - traditional model) to $20K+(25% after-tax - conservative model)? I definitely have friends with a THP of $4k, 1-3 kids, and a total take-home pay of $5-6k

TIA!