First-Time Buyers

After reading the Real Estate section for a couple of years, I have become annoyed at the attitude that Southern Californians have regarding the purchase of their elusive first home. Week after week I keep reading that people don’t have the down payment for this prized investment, yet I remain astonished at the whining, childish reasons I keep hearing.

For some reason beyond my comprehension, the Westside has become the mecca for social living status. The average person out here earns about $30,000 a year. Sixty percent of the residents rent, and many of them live way beyond their means to live in a “status-symbol” neighborhood.

Whenever I read the profiles of the areas each week, the average priced house mentioned rarely goes below $200,000. Recently there was a furor about a reader’s letter stating that they couldn’t save enough for a down payment, and their reasons showed a lack of financial planning.

I feel that too many residents feel they must live in certain Westside neighborhoods or expensive houses to impress someone, and I ask the question, “Are these people worth impressing?” I see many people driving expensive cars and putting money into immediate gratification which could be saved for a house.

My girlfriend and I recently bought in Duarte and paid $124,000 for a real fixer-upper of about 1,000 square feet. This area was chosen for its lower-priced homes, despite regular commutes to the Los Angeles area. We’re willing to make needed sacrifices just to get into the market at an affordable time.

However, the attitude I get from the Real Estate section is that if a person can’t buy in the $200,000 range, they don’t deserve to live in this county. We saw no need to live beyond our means, and the money we save can be used for eventual investment property. If more people spent less time shopping in the malls and more in restraining themselves, we could have more houses bought by first-time buyers.

GENE JONES, Duarte