Finding My Dream Home: A Journey of Ups and Downs
The Search Begins
After six long months of searching, 45 days of closing, and finally moving in, I’m thrilled to reflect on my journey to becoming a first-time homeowner and landlord. From setting my budget to finding the perfect lender, it’s been a wild ride. But now, I’m ecstatic to call this place my own.
The Perfect Fit
Initially, I was looking for a 2-bedroom, 2-bathroom haven within a 30-minute commute from my office. It had to have a washer/dryer and be rentable. But, life had other plans. I ended up finding a stunning 3-bedroom, 2.5-bathroom gem that exceeded my expectations. Although it’s a bit further from my office, the extra bedroom and renter setup make it well worth the 40-minute commute.
The Finances: A Game-Changer
I’ll admit, I went above my anticipated budget of $365,000 for a 2-bedroom, opting for $427,000 for the 3-bedroom instead. While this increases my monthly housing costs, it also opens up new revenue streams. With rentable bedrooms going for over $1,000 each in the area, I’m looking at a potential monthly income of $3,300. By sharing the space with a close friend, my actual monthly costs come down to $1,400 – a steal for a fantastic place like this.
The Location: A Surprising Twist
My search took me all over Los Angeles, from Culver City to Inglewood and eventually, Gardena. Initially, I was drawn to the Fox Hills area, but the prices were out of my range. I then explored Inglewood, finding some great options, but none that ticked all the boxes. Frustration led me to expand my search, and that’s when I stumbled upon my new home – a place that exceeded my expectations in every way.
The Verdict: Worth the Wait
In the end, I didn’t get exactly what I was picturing, but I got something even better. With its pros and cons, I believe I made the best choice for a long-term investment. Here’s to hoping that I’m right!
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