Buying a home is not a national decision. It’s a personal decision. The best time to buy in San Diego is when you can afford it and I can prove it. In February, San Diego recently bypassed San Francisco and Los Angeles to become the nation’s “least affordable city” when comparing median home prices to local incomes. Since then the cost of a mortgage has risen 25%. The same report declares Green Bay of Wisconsin the most affordable. If I was a Packers fan, loved frozen tundra, and worked from home, I might take a hard look at Green Bay. My “problem” is I like great weather, ocean views and I am a broker here — in San Diego.
Here’s another true story: A year ago I “overpaid” for a rental property in La Mesa but that home home is now worth 15% more than I paid for it. Do I care? Not really. It’s not for sale. And, unless something goes terribly wrong, it will never be for sale. Greater San Diego is #1 for a reason. It is the #1 place to put your roots down and raise a family. It is the #1 place to slowly but surely create generational wealth by owning an investment property or two. Owning more than one property in San Diego may seem impossible but there are ways that it can be done. Sometimes you need the right agent and the right loan program. Maybe it’s time to give me a call and see how I can help you develop your passive income. When you plant your flag in San Diego, only to learn years later that it’s the “least affordable city,” the question is obvious: “How much longer can I ‘afford’ to wait?” No need to worry as I would never tell you to do anything I would not do myself.