What other areas are like La Jolla?

[longranger]

The distance inland that ocean effects extend varies a lot up and down the coast. From just south of Newport beach and into Camp Pendleton the ocean effect disappears within 5 miles or so. Further north up into much of the LA basin the ocean influence extends further inland. Same for much of San Diego County.

 

[daylatedollarshort]

We will give the entire left coast a look. Just have to decide about the trade-offs, explore more areas and feel more sure that we are making a good decision before the next purchase. Also with $$ in the bank we hope to buy in a down market all cash.

Those are all good points. I have run the numbers and I think it is cheaper for us to buy than rent over a 5 year or so period. Prices would have to drop quite a bit on a 2 - 3 bedroom condo to come out behind after ~5 years with buying, though certainly with buying we would take that risk that it could happen.

We would sell here and then buy a condo with cash or a small mortgage, but we probably won't wait for a general real estate price drop in California to rebuy. We'll just limit our potential downside losses by downsizing and moving to a lower $ per sq foot area within CA than where we are now.

Down markets can be between time periods or between locations, so our down market will be taking advantage of the price differential in housing before the next inevitable tech stock / job bust occurs up here. At least we can do that if we can decide where we want to live.

 

[explanade]

What kind of per square foot numbers are you talking about?

Going from how much in the Bay Area to how much down there?

 

[daylatedollarshort]

Some have mentioned about the difference between the coast and a few miles inland. It is something to consider. Along the coast we get the June Gloom along the sometimes lasting into July, while 5 miles inland it will be sunny. I have lived both a few minutes walk to the beach and 6 miles inland in the coastal SD County communities and there is quite a difference. For me now I actually prefer being 5 or 6 miles inland, you still get a nice sea breeze, but a lot less coastal clouds and fog and more sunny days. Both areas are great, it really depends on what you like. Just something to think about.

That is all good food for thought.

We have been looking online at condos inland on lakes, so for day to day we could walk around the lakes and have water views and sunny weather, and still be within a not too long driving distance to the beach.

 

[daylatedollarshort]

What kind of per square foot numbers are you talking about?

Going from how much in the Bay Area to how much down there?

If you look on Redfin they calculate the price per square foot for housing by house, zip, city or whatever. Sure you can buy condos for the same price here as there but here they are usually older / higher crime / not as good a school districts / not near the coast compared to there.

For a comparable city, I think we would pay maybe ~$150 less per sq foot.

 

[explanade]

Just looking around Zillow, prices seem all over the map, from under $300 on up. But they tend to be older properties, with some remodeling. There are condo/townhouses under 1500 sq. ft. going for $700-800k and even higher if overlooking the ocean.

Meanwhile Zillow shows properties around where I live in the $500-600 range.

 

[kcowan]

We have friends that live in La Jolla but east just before the train tracks. Beautiful area. In a gated community. Single family 3BR not fancy. They have a reasonable yard. But they have heaters and fireplaces everywhere.

Another friend lives in Dana Point. Both areas tend to be too cold for us. We liked Poway only because, at 10 miles from the ocean, it was outside the gray in May and the gloom in June. Fog would roll in around 4pm and then lift again at 10:30am so it was bearable. And just 15 minutes to the beach in La Jolla. We also found it very handy to the Padres games. About 25 minutes drive after the game.

 

[daylatedollarshort]

Just looking around Zillow, prices seem all over the map, from under $300 on up. But they tend to be older properties, with some remodeling. There are condo/townhouses under 1500 sq. ft. going for $700-800k and even higher if overlooking the ocean.

Meanwhile Zillow shows properties around where I live in the $500-600 range.

You have to run your own numbers to see what makes sense for you to do. I don't think you have a 1500 sq ft condo in the Bay Area overlooking the ocean now for $500K so you have to compare apples to apples. Or if you do, let me know where it is and I'll move in next door.

 

[slowsaver]

Central Coast and San Luis Obispo are affordable and beautiful.

 

[explanade]

What is the deal with property taxes?

If you bought almost 20 years ago so your assessments have been way below market value, if you buy a property at market value now, would your assessments be based on the purchase price of the home now

 

[LOL!]

Capetown, South Africa.

 

[daylatedollarshort]

What is the deal with property taxes?

If you bought almost 20 years ago so your assessments have been way below market value, if you buy a property at market value now, would your assessments be based on the purchase price of the home now

Homeowners 55 and older may be able to transfer property taxes to downsize -

Orange County, California - Savings for Seniors on Replacement Home

 

[clifp]

I honestly don't think there are is anyplace like La Jolla, hence the prices.

My mom treated my two sisters to a long Spa weekend in La Jolla last year. After returning, my sister who also lives in Hawaii and has sailed the South Pacific and spent a year living in Tahiti, said that La Jolla was still a gorgeous place.

 

[Fedup]

Have you looked at Laguna Niguel, San Juan Capistrano, Mission Viejo, San Clemente, Carlsbad, Fallbrook? I used to live in Laguna Niguel and was looking to retire there, I found plenty of properties there that are much more affordable then the Bay area.
For example, I found this one sold in April for close to $500K for 3 bedroom. Beacon Hill is closer to the beach, within walking distance. The area is slightly older but this house looks gorgeous inside.
http://www.redfin.com/CA/Laguna-Niguel/16-Sudbury-Pl-92677/unit-72/home/5389448

 

[daylatedollarshort]

Have you looked at Laguna Niguel, San Juan Capistrano, Mission Viejo, San Clemente, Carlsbad, Fallbrook? I used to live in Laguna Niguel and was looking to retire there, I found plenty of properties there that are much more affordable then the Bay area.

Those are all on our list of places to check out. There does seem to be much more of a selection in our price range in the places you listed from looking online, so I am excited to check them out. We will take a driving trip to see open houses and scope out the area after we have a few house projects done here.

We went for a walk through the Redwoods today. It is lovely here so we are kind of torn.

Anyway, first world problems. Whether Bay Area or Southern California, I don't think either choice will be a bad retirement location for us. They both have their charms.

Thanks for all the input to everyone who contributed to this thread so far.

 

[Fedup]

I also forgot to mention Aliso Viejo. These cities mentioned, I'm sure they don't have gangs problem. Other areas inland, there might be some pockets of gangs, I remember reading them online.

 

[daylatedollarshort]

For example, I found this one sold in April for close to $500K for 3 bedroom. Beacon Hill is closer to the beach, within walking distance. The area is slightly older but this house looks gorgeous inside.
16 Sudbury Pl #72, Laguna Niguel, CA 92677 | MLS# OC14030358 | Redfin

Yes, I agree that looks really nice. We'd be happy in a place that size - big enough if one or both kids boomerang but not too big for two to take care of. If we could walk to the beach that would be an amazing price compared to what it would cost here for a location like that.

 

[Fedup]

That place is definitely closer to the beach, walkable. I used to live in Marina Hills area of Laguna Niguel, a little bit farther inland than Beacon Hill and was able to walk to the beach back and forth when I was pregnant with my first child. I think it was about 1-2 miles from the beach from Marina Hills. Beacon Hill is definitely much closer. There are other areas in Laguna Niguel that is also cheaper, plenty in Aliso Viejo. Aliso Viejo has really nice regional park where it feels like walking in the woods.

 

[WannabeRetired]

Yes, I agree that looks really nice. We'd be happy in a place that size - big enough if one or both kids boomerang but not too big for two to take care of. If we could walk to the beach that would be an amazing price compared to what it would cost here for a location like that.

Are you pretty sure you'd be okay sharing walls and being that close to neighbors?

 

[daylatedollarshort]

Are you pretty sure you'd be okay sharing walls and being that close to neighbors?

We both agree we don't want a big house and yard to take care of any more. We want a low maintenance lock and go condo or townhouse so we can travel or work on the hobby businesses. Our current house is a time and money pit.

 

[explanade]

One thing to be wary of is how the HOA is run, whether it has reserves for roof and common area replacement, how recent major work was done, etc.

And the fee creep, going up every year.

 

[Fedup]

HOA does not always go up, I know for one community it stayed the same for 25 years. I thought daylatedollarshort was looking at Laguna Woods which is probably condo for 55+.

 

[daylatedollarshort]

HOA does not always go up, I know for one community it stayed the same for 25 years. I thought daylatedollarshort was looking at Laguna Woods which is probably condo for 55+.

LW sounds nice and the prices are attractive but probably can't work out for us for at least several years into the future with still having college / boomerang age kids.

 

[Fedup]

If somebody tried to send me a pm, I can't see, I'm afraid to download any software. I apologize for not been able to respond.

I used to drive by the LW area, the area is nice but I think the LN, AV area are quite nice. I'll look up some other area for reasonably price, maybe not condo to see if I can find something reasonable.

 

[WannabeRetired]

Condo/townhome living is such a gamble to me. You could live next to or under a nice, quiet elderly lady or you could get a family with 4-kids who are all musicians who have no regard for how their noise impacts neighbors.

If it were me, I think I'd prefer to live more inland in a single-family home and drive to the beach instead.