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Fobulous Premium Member 2007-Jan-3 9:11 am Thinking of moving to the Bay Area.I am really seriously thinking of moving to the Bay Area, though i have traveled to this beautiful area many times before i have never really lived there. Coming from Texas, what would one expect that would be otherwise culture shock? i know that housing is rocket high and to purchase something at $300k is nothing, but exactly what can one buy for $300k (putting down 20% and mortgage the rest)? Also, i know that one has to pay for property tax e.g. automobile etc etc, which we do not pay a cent here in Texas, this would be an extra expense that i would have to keep an eye on? We do pay a lot for property tax for housing (2.5-3% depends on what city we reside) but in California, you pay about 0.5%? Thanks for your inputs |
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nccycle Premium Member 2007-Jan-3 10:29 am Under Prop 13 property tax is limited to 1% of property value. to get around this limitation though cities and counties tend to pile on extra fees. IN Oakland where I live we have 16 additional fees/assestments on top of our property tax for a total of $740. Before you buy make sure to ask about these additional assessments. |
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turbonium to Fobulous Premium Member 2007-Jan-3 11:11 am If you're interested in housing prices, check out »www.zillow.com and you can see prices for the city and individual homes in the area. 300k would barely get you a condo in the south Bay Area. 2005 was a bumper year for a jump housing prices. The average home price in San Jose is around $698k. tb |
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DrewCapu to Fobulous Member 2007-Jan-3 11:27 am said by Fobulous: Coming from Texas, what would one expect that would be otherwise culture shock? Not everybody in the Bay Area is a hippie/not-straight |
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ninjatutle to Fobulous Member 2007-Jan-3 12:37 pm Why the heck would you want to move here for? People are leaving at a very high rate, more then the rate incoming. Illegals don't count I think. The traffic is bad. I don't even dare venture on the freeway until after the commute hours. I'm lucky to live in the same city where I work. Gas price is worst in the nation, bridge tolls are now somewhere between $4-7. Theres about half a dozen of them around here. »www.nytimes.com/2005/11/ ··· &ei=5088 »seattletimes.nwsource.co ··· a11.html |
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lilhurricane to Fobulous Numquam oblita 2007-Jan-3 12:38 pm You'd love it Fob Regardless of costs..it's the most beautiful place |
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sashwa to Fobulous Mod 2007-Jan-3 1:48 pm Where in the East Bay are you thinking about moving to, Fob? I don't know about the cost of living of in your area of TX but the cost of living here in the East Bay is high compared to many parts of the US. Here in Alameda County the sales tax is 8.750%. Yes the traffic is the pitts out here but I don't think it's any worse than any densely populated area of the country. If you like diversity, then you will find it here. |
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ninjatutle to Fobulous Member 2007-Jan-3 4:37 pm »www.realtor.com/FindHome ··· rc=00002 I found a place only an hour outside of the bayarea for 324k in Manteca. With the way the market is, it could be bought for 300k. You might want to look around that area for your price point. |
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| kenward1 | kenward1 Member 2007-Jan-3 10:36 pm $300k would make an excellent down payment. Finance another $600k @ ~$4000.00 a month plus the $9000.00 -$10,000.00 per year property taxes and you'll be fine. What company do you plan on being CEO of? |
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| PrntRhd | PrntRhd to Fobulous Premium Member 2007-Jan-3 10:44 pm You may want to look at condos for your $300K figure, most single family homes are $500K+ for 1300 sq feet even as far away as where I am. |
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Jtmo to Fobulous Premium Member 2007-Jan-4 1:46 am For 300K you might find a manufactured home in a trailer park. |
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ninjatutle to Fobulous Member 2007-Jan-5 10:08 pm So did you move here yet or what? |
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JohnInSJ to Fobulous Premium Member 2007-Jan-8 2:32 pm Welcome to the bay area. You won't be buying much for $300k. When we moved here in '98 we got a steal on a slumlord home for $500k in san jose that has only needed about $120k in repairs and updates. The homes in my area now sell (in days) for $750-900k. These are 40+ year old 1300 sq foot homes on wonderful 60'x100' lots. Prop tax will run you anywhere from 6-9k/yr. State income tax, sales tax, insurance, etc will also be much greater then TX. Oh, and food, gas, energy, etc. will also all be more then TX. Pretty much anything you buy will cost more, be taxed more, and so on. I moved here from taxachusetts, and the cost of living here sure feels like 2-3x that. You'll need twice the income to get half the home, easy. Oh, and if you have kids, start looking into private grade schools if they are in school - budget $7-10k/yr for that. The weather sure is nice |
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GilbertMark to Fobulous Premium Member 2007-Feb-5 11:20 pm ..the economics of this state would be the biggest shocker. |
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koitsu to Fobulous MVM 2007-Feb-12 1:12 pm Welcome to the bay. Here's some advice from a non-Californian, mainly from a non-financial viewpoint (minus a couple points): 1) Adjust to the fact that things are expensive here. In a recent article I read (the top 10 most expensive as of 2006), 3 of the 10 were in California (two of those 3 in the Bay). The cost of living is indeed higher, but things here are generally more expensive -- just because they can be. 2) Prep yourself for high speed, close-proximity driving. I've never been to Texas, so I have no idea how Texans drive. But around here, the method is as stated above. Accidents happen as often as any other region, though, meaning Californians drive incredibly well (in my opinion) at such high speeds. Once the road becomes wet, though, watch them all freak out... 3a) If you're a straight male, you're in for a real treat: no single women. Hope you're married or moving here with your girlfriend, otherwise expect to remain single for many years to come. Companies around here seem to use that to their advantage (single bachelors will work longer hours), too. If you're non-straight, you'll find the bay to be a very open-minded with lots of selection, which should keep you happy (every gay friend I have says this place is fantastic.) 3b) If you're a single straight female, expect to be asked out or flirted with within a month of being here. The male population here is the outstanding majority. If you're married or moving here with your boyfriend, you won't have to worry about him taking off with someone else (due to #3a). If you're non-straight... well, I have no idea what that's like (I don't know any lesbian women here personally.) 4) There's a LOT of great restaurants here. Never had Texan food (been to Arkansas though! *gulp*), but the Bay has many fantastic places to go for food. Visit every place you can, and get a feel for what places you like. Some of the best are little hole-in-the-wall niches, and some of the best are large restaurants. There's something for everyone. 5) Every city is different; living situations drastically change between cities, in my opinion, as do costs of property and rent. (I don't own a house or a condo; I rent an apartment.) I'm particularly fond of Mountain View, Palo Alto, and Menlo Park. I'm not a fan of San Francisco (loathe it), nor SJ (boring). Drive through EPA once (don't stop 6) There's a very large focus on financial/material wealth in this area. Not everyone is that way, but the easy majority. Expect future co-workers to have weird "money-focused" ideals and run into people whose goals appear to be driving by material goods or social status. It wears on you after a while (I've been here for a total of 10 years), but don't let it get to you. This region is very diverse, which I think is a great thing. It's just something to keep in mind (something you might notice over time...) |
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ninjatutle Member 2007-Feb-12 3:41 pm Here's a short version of what he said. 1) We are the highest paid in the country. 2) Don't hog the fast lane going 70mph. 3a) If you're a guy, you can find "dates" on Craigslist. 3b) If your a girl and hate being hit on all the time, tell the guys you are really a man in a deep voice. 4) Good restaurants are easy to spot, they're crowds outside waiting. 5) Don't move to Oakland, East Palo Alto or S. San Francisco. 6) Need expensive car to get hot chick. |
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DrewCapu Member 2007-Feb-12 3:58 pm 1) We are the highest paid in the country. 2) Don't hog the fast lane going 70mph. 3a) If you're a guy, you can find "dates" on Craigslist. 3b) If your a girl and hate being hit on all the time, tell the guys you are really a man in a deep voice. 4) Good restaurants are easy to spot, they're crowds outside waiting. 5) Don't move to Oakland, East Palo Alto or S. San Francisco. 6) Need expensive car to get hot chick. |
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Our weather is great for the most part.
