Moving to the Bay Area?

[Slew Foot]

We lived in South San Jose.. 2BD with 1050ish sq ft. was under $2200 at the time. Moved to Mountain View last year to spend more on a smaller 1BD. Moving to Palo Alto next month.. bigger, cheaper and closer to work though not as luxurious. The trade off to not deal with traffic on 85/101/280 was worth it. We spoke with a mortgage guy a few weeks ago to see where we're at. Looking good for a purchase in a couple years.. small part of me hopes the market crashes a bit. :\

Were lucky to have bought when we did, when the market lulled for a bit in 2010. 1.2 mill for a 3600 sqft house in san jose, current value is close to 1.7. Ouch, i dont know whose buying up all these properties.

 

[theeedude]

Were lucky to have bought when we did, when the market lulled for a bit in 2010. 1.2 mill for a 3600 sqft house in san jose, current value is close to 1.7. Ouch, i dont know whose buying up all these properties.

A lot of investors from China. It's a bubble. But hey, may get the old timers to sell out and move, so could be good in the long term. I see a lot of older people with RV's and American cars in Santa Clara. If I was them, I'd take a million and run.

 

[TakeNoPrisoners]

In San Jose 125K/yr is more than fine. For a decent 2br/2ba apartment you are looking at paying at least $2300 a month for rent for something about 900 to 1000 square feet. Although it seems like rents have been going up. Last year the same apartments were going for about $100 to $200 less monthly.

 

[RockinZ28]

I would do it if you believe it'll improve your quality of life for yourself and your family. Maybe not immediately either, but within a few years. Don't want your kids growing up in a small apartment, or you and your wife working non-stop just to pay rent/mortgage.

A bigger salary means nothing when everything is more expensive. Taxes, insurance, utilities, gas, etc. all come with an extra cost, in addition to the housing prices.

 

[OILFIELDTRASH]

What about the area warrants the insane cost of living? It must be heaven on earth there or something.

 

[T9D]

That place is one of the biggest rat races and money sinks in the Country. And time sinks trying to get anywhere. Any possible way California can take money from you they find a way. Anyway they can make something more difficult they find a way. I feel like your family would probably be better living where you are in a nice big home and probably a lot less stressful of a life.

 

[MrCassdin]

Appreciate all the feedback everyone, thank you.

I guess I am fortunate that I have received several hard offers already and I have only been on the market maybe 36 hours. I thought it would take longer to find a job but maybe I'm not asking enough or maybe there's just that many jobs.

So now I'm trying to find an apartment I can rent out there possibly this week to set up a "base of operations" so to speak and get my wife and kids out there.

Based on what I've heard here and talking to coworkers who are out there now Redwood City or Fremont seem like reasonably priced areas. Rent in San Fran itself seems to be significantly more, although I'd love to live there (I am a big city native and like the big city).

Outside of the obvious Craigslist, apartments.com, do you locals have any good apartment resources you use?

Now I am thinking about listing my house as well using one of these "by owner" type deals.

 

[Imported]

In San Jose 125K/yr is more than fine. For a decent 2br/2ba apartment you are looking at paying at least $2300 a month for rent for something about 900 to 1000 square feet. Although it seems like rents have been going up. Last year the same apartments were going for about $100 to $200 less monthly.

The place I'm renting from right now gave us our renewal information last week. Hiked rates almost $300.. Uhh no thanks. No wonder there's more moving out than in.

Appreciate all the feedback everyone, thank you.

I guess I am fortunate that I have received several hard offers already and I have only been on the market maybe 36 hours. I thought it would take longer to find a job but maybe I'm not asking enough or maybe there's just that many jobs.

So now I'm trying to find an apartment I can rent out there possibly this week to set up a "base of operations" so to speak and get my wife and kids out there.

Based on what I've heard here and talking to coworkers who are out there now Redwood City or Fremont seem like reasonably priced areas. Rent in San Fran itself seems to be significantly more, although I'd love to live there (I am a big city native and like the big city).

Outside of the obvious Craigslist, apartments.com, do you locals have any good apartment resources you use?

Now I am thinking about listing my house as well using one of these "by owner" type deals.

http://www.vrent.com has some places in Menlo Park/Palo Alto/Mt. View. http://www.prometheusreg.com/ is another apartment group with a lot in the area. Doesn't appear their apartments are on apartments.com.

 

[Pheran]

You can live there on $125k , but it's not going to be high-end . Consider all of the other people making big money in Silicon Valley. Public transit is horrible. Hold onto your car. Prepare for horrible traffic.
The bright side, you won't be in Pennsylvania.

Hey now, Pittsburgh is pretty nice.

Also my housing prices are not nuts.

 

[MrCassdin]

My wife started looking for jobs ahead of graduation and was able to find one almost immediately. So the income aspect might not be as bad as I thought if we both can go to work right away.

 

[K1052]

Rents in SF itself have reached nosebleed levels. We are paying over $5 per sq foot for a ground floor one bedroom apt. We just got a letter setting the new rates...8% bump for another year.

Family living in SF unless you are making a truckload of cash is going to be somewhat difficult.

 

[MrCassdin]

I think SF is out, my major job lead is in Redwood city and the wife's is in Fremont, so I guess we need to pick somewhere in the middle.

The other part of this is listing and selling my house; the way this all goes down, I might not be here to take care of the sale. I know folks here must have handled an our of state sale before? Realtor? By Owner? Any tips for being 3,000 miles away from your empty house? Shut the power/water off? It's summer and where I'm at it gets super hot so I'd like the AC to run.

 

[zinfamous]

definitely consider Menlo Park along with Redwood City.

as far as finding a place to rent--it's rather difficult to do that here when you aren't physically present. Things get gobbled up fast, and the typical practice is to have a security deposit and ability to sign lease all ready to go when you view it.

Landlords will open the place, schedule several people at once, and basically award whoever has everything to go--they will do the credit checks and all that, but if you aren't ready to hand them something when they first meet you, then you are likely out of the running. On top of that, you really do want to see the neighborhoods. The photos on CL or apart finder will hide everything you actually want to see. There are good and bad neighborhoods most everywhere around here. Though, even some good neighborhoods "look bad." (me, coming from NC and Chicago...the typical neighborhoods just look different out here)

and yeah, getting to Redwood City from SF isn't that great. well, you can just do Caltrain, but that involves transit from the Caltrain station in Redwood City.

Oh, also consider San Carlos or San Mateo--both just north of Redwood City.

Why San Carlos?
http://refugesc.com/

you're welcome.


as far as the middle of Redwood City and Fremont...that's basically San Jose, Los Gatos (I think?) that area, just on the south end of the Bay. Fremont and Redwood are basically separated by the Bay, though you have two bridges on either side of Redwood. PT, if that is your plan, wouldn't be easy (BART ends at Milbrae on the West Bay--about ~10 miles north or Redwood; and at Fremont on the East Bay....don't even dream of using BART/Caltrain to get from Fremont to Redwood. Just...just look at the map )

 

[zoiks]

Sunnyvale is your best bet for better rent.

 

[Drako]

Sunnyvale is your best bet for better rent.

Or Mountain View or Santa Clara.

 

[Dr. Detroit]

We've been here 14yrs - Don't do it!

Have you factored in California income taxes, property taxes, $4/G gas, high energy prices and the obscene cost of housing.

A 3400 sq/ft home on a 10,000 sq ft lot will cost you well over $1M in San Jose or Fremont. In Palo Alto that's $1.5 - $2M.

This place has amazing weather, great jobs, tons of stuff to do, a cultural melting pot, amazing food.

Schools are so-so, people aint the friendliest, traffic is horrendous,

Your wife and kids will hate you.

 

[MrCassdin]

We've been here 14yrs - Don't do it!

Have you factored in California income taxes, property taxes, $4/G gas, high energy prices and the obscene cost of housing.

A 3400 sq/ft home on a 10,000 sq ft lot will cost you well over $1M in San Jose or Fremont. In Palo Alto that's $1.5 - $2M.

This place has amazing weather, great jobs, tons of stuff to do, a cultural melting pot, amazing food.

Schools are so-so, people aint the friendliest, traffic is horrendous,

Your wife and kids will hate you.

When are you moving out? D:

The bolded part is what we're interested in. We're tired of the east cost (neither of us is from here), you haven't seen unfriendly people until you've lived here.

Definitely going to be down sizing on the house unfortunately.

I have to admit housing wise, I have to adjust my expectations. Something like this appears to be reasonable (for the area generally speaking).

http://www.realtor.com/realestatean...ott-Ave_Sunnyvale_CA_94089_M22018-33775?row=1

 

[Hugo Drax]

125k in the Bay Area is like earning 28k somewhere else.

Think about it a 725k mortgage means assuming you put 100k down, a mortgage of 3355 a month not even taking into consideration taxes and insurance.

You would be paying about 5000-6000 a month.

Add the cost of electricity etc and you would end up house poor.

 

[MrCassdin]

125k in the Bay Area is like earning 28k somewhere else.

Think about it a 725k mortgage means assuming you put 100k down, a mortgage of 3355 a month not even taking into consideration taxes and insurance.

You would be paying about 5000-6000 a month.

Add the cost of electricity etc and you would end up house poor.

According to the calculators I am seeing online the only thing significantly more expensive than where I am now is housing, things like utilities and insurance are a good deal less.

 

[OILFIELDTRASH]

When are you moving out? D:

The bolded part is what we're interested in. We're tired of the east cost (neither of us is from here), you haven't seen unfriendly people until you've lived here.

Definitely going to be down sizing on the house unfortunately.

I have to admit housing wise, I have to adjust my expectations. Something like this appears to be reasonable (for the area generally speaking).

http://www.realtor.com/realestatean...ott-Ave_Sunnyvale_CA_94089_M22018-33775?row=1

lol. That house would be 130k ish in my area.

 

[MrCassdin]

lol. That house would be 130k ish in my area.

Around me it would be about $200K.

 

[MrCassdin]

Wife just got pinged for a job in down town San Fran, better than the Fremont one. Things are all over the place, lol.

 

[MrCassdin]

OK, I'm ready for the hate... how crazy would this be? Don't comment until you see the last pic. $250K.

Yeah, it's a trailer... not like it would be forever, maybe 2 years?

 

[jpiniero]

According to the calculators I am seeing online the only thing significantly more expensive than where I am now is housing, things like utilities and insurance are a good deal less.

Keep in mind the Income tax would be 9% at least (PA is 3%) and the sales tax is pretty close to that as well. Gas is going to be way more expensive there as well.

I wouldn't buy a place unless you had at least 20% to put down, and that's with 6 months of an emergency fund.

 

[mikegg]

Don't listen to others about the cost of living here It sounds like your salary + your wife's salary is more than enough to live in San Fran or Fremont or most places in the Bay Area.

I'm living in SF but have lived in San Jose and Milpitas. San Francisco and the peninsula(the left side of the bay) is much more expensive than the right side(Oakland - Fremont).

Do not live in Oakland, San Leandro, and Hayward since you have kids. Those areas are dangerous. If I were you, I'd look to settle in Union or Fremont. Bart(subway) can take you from Union or Fremont to downtown San Francisco in 40 minutes. You don't have to drive.

Union City and Fremont are great areas to raise a family. It's more suburban than the rest of the Bay Area but transportation to other cities is still good.

You can also look at cities like Daly City, South San Francisco, San Bruno, etc.

I would not live in Palo Alto. It's expensive as hell and some parts are actually very dangerous. I would avoid Sunnyvale as well. Traffic there is not nice and it's expensive.

If your wife's job is in San Fran, think about moving there as well. There are very nice and cheaper places in San Francisco such as the Richmond District and Sunset District where you can raise a family but it's close enough to commute to downtown in 25 minutes.

Good luck and welcome! It's a tremendous time to live in the Bay Area right now. The weather is always nice. Not too hot, not too cold. No snow. Close to the beach. Lots of places to go and sights to see.