There are several major events in a person’s life and I believe owning your first home is one of them. However, with the current real estate market, it is definitely difficult to find a home. After all, my needs are simple. I do not need a large place and I do not want to live in a home that is older than my grandmother. But I do need to live in an area that is close to family and friends. But it probably seems everyone wants to live around this area.
About two weeks ago, I had let a condo slip away from me as I probably should have made inquiries on it way before hand since it was sold way under appraisal value here in Los Angeles. The condo was appraised for $399,000 and rumors had it being sold for $240,000. The information had got to me too late. I was not actively searching for a place of my own.
The problem now is that I had a taste of owning my own place and experienced all the joyous thoughts that came with it. So after finding out the condo was already sold; I went on a search for another ideal condo to purchase. There is plenty of real estate being sold at the moment; especially with the sub-prime market dropping out and prices dropping. However, all the real estate available I saw had several shortcomings such as being too old, being too big and being located too far away.
After visiting a bunch of overpriced condos and town homes, I realized that the real estate market does not care for the modern couple. There are no two bedroom condos readily available. Instead, developers just build more of these PUD town homes with four to five rooms and easily price these at half a million or more. What a load of crap? Even if I had that type of money to afford a house like that, I probably still will not need it. Seriously, anything more than two bedrooms is just too much to maintain and all the extra bedrooms will just go to waste, meaning unfurnished. Given these options, I choose to just sit on the sideline until the market is a bit more convenient for me.
Here are some brand new community homes that are affordable and the architecture is laid out way better than the ones I seen around the Los Angeles area.
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