Profile picture for singlemom of 2

I currently live in eugene, OR, but want to buy a house in southern california before moving

Maybe rent it out till I find a job before I move, is that possible. Also I am single and make about $30,000 a year, is my dream possible or should I just forget it. I have never bought a house before so have no idea what I am doing. My ex husband lives in San Diego, and my kids want to live closer to their dad so I would like to move closer so I can still see my kids and they can see their dad.
  • April 09 2011 - Eugene
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Answers (1)

Profile picture for wetdawgs
You are doing the right thing starting to educate yourself on the process before jumping out and looking for a house.  Here's a Zillow guide to purchasing.

Some things to do:

Start saving up a down payment.  In order to purchase a property for a rental, you will need at least 20% down.  You should also have sufficient funds to cover repairs, months with no renters etc.

Evaluate your income in the "what can I afford calculator?".   Please be aware the calculator is assuming this is your primary residence. 

Spend some time learning about neighborhoods and housing prices in the area(s) you are interested in.    My bias is one should rent for a while after a major move to learn about the area and your preferences.  

I suspect you'll be shocked at prices in Southern CA vs your income and decide that spending some time saving up a down payment and increasing your income will help you achieve your dreams.
  • April 09 2011
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