Hi All,
We currently live in NJ and we really like it here except the winters.
Planning to move to Bay Area for a long time, but haven't done so. Now I want to execute it in 2008. The bigggest challenge is the housing cost over there. Although we will sell our house here for around 150% of what we had bought for. To Buy a similar house over there, will be around 1M. We can afford it, as both of us are working and can get a good job.
The cost of living is much more in Bay area, but even here, we spend good amount of money for quality of life.
The dilemma is, as we move there, here to work/not work and stay with kids is really a choice here, There it might not be, as primarily of housing and other costs?
We have a very good circle of friends, which we will miss. Although I think there also, it will be easy for us, as most of our friends from school and jobs live there.
A one big disadvanatge is, the people who are there already, have bought houses. Their house will be much nicer and affordable than what ours will be, is it better to be in that situation?
Same thing goes for NJ, people here will have the better and nicer home than what we have over there, so its a lose-lose situation from both sides.
Housing is very important for me. I think I need to atleast live in a townhouse with 3 bedrooms. SF is even better specially for Bay area weather.
In NJ/NY area, The jobs are high paying and housing cost is ok. Atleast we got used to it. For the Bay area, what percentage of salary can we expect compared to here?
The main deciding factor is affordability of house and have a higher paying job, otherwise I would move there today :-)
Please let me know your views. I know some of you will say-- don't compare your house with others, But I think it will bound to happen, so its better to worry about it now.
Is renting a townhome/SFH is affordable than buying?
Thanks,
Ana.
Moving to bay Area -- Logistics
Moving to bay Area -- Logistics
ana;64512Hi All,
We currently live in NJ and we really like it here except the winters.
Planning to move to Bay Area for a long time, but haven't done so. Now I want to execute it in 2008. The bigggest challenge is the housing cost over there. Although we will sell our house here for around 150% of what we had bought for. To Buy a similar house over there, will be around 1M. We can afford it, as both of us are working and can get a good job.
The cost of living is much more in Bay area, but even here, we spend good amount of money for quality of life.
The dilemma is, as we move there, here to work/not work and stay with kids is really a choice here, There it might not be, as primarily of housing and other costs?
We have a very good circle of friends, which we will miss. Although I think there also, it will be easy for us, as most of our friends from school and jobs live there.
A one big disadvanatge is, the people who are there already, have bought houses. Their house will be much nicer and affordable than what ours will be, is it better to be in that situation?
Same thing goes for NJ, people here will have the better and nicer home than what we have over there, so its a lose-lose situation from both sides.
Housing is very important for me. I think I need to atleast live in a townhouse with 3 bedrooms. SF is even better specially for Bay area weather.
In NJ/NY area, The jobs are high paying and housing cost is ok. Atleast we got used to it. For the Bay area, what percentage of salary can we expect compared to here?
The main deciding factor is affordability of house and have a higher paying job, otherwise I would move there today :-)
Please let me know your views. I know some of you will say-- don't compare your house with others, But I think it will bound to happen, so its better to worry about it now.
Is renting a townhome/SFH is affordable than buying?
Thanks,
Ana.[/quote]
If you are comfortable in NJ, why move? The disadvantages outweigh the advantages as I see it. In winter, you have to wear a sweater in bay area and you have to wear a sweater in NJ. What is the big difference except the snow? Did you see the thread where people are discussing moving out of bay area?
Moving to bay Area -- Logistics
layman, you might be right that advantages outweigh the advantages.
But the main motivation is to spend more time outdoors, specially with my kids. To ride a bike with them, taking them to parks, hiking/camping etc. Here, it becomes even difficult to walk outside. Its possible, but I don't enjoy it.
Changing weather is nice and all.
Like I said, if I didn't worry abount housing costs, I will move there now.
Few years down the road, I don't want to regret of not moving there like I am doing now why I didn;t move earlier.
However, this seems like the worst of time, housing costs + increased interest rates.
But the main motivation is to spend more time outdoors, specially with my kids. To ride a bike with them, taking them to parks, hiking/camping etc. Here, it becomes even difficult to walk outside. Its possible, but I don't enjoy it.
Changing weather is nice and all.
Like I said, if I didn't worry abount housing costs, I will move there now.
Few years down the road, I don't want to regret of not moving there like I am doing now why I didn;t move earlier.
However, this seems like the worst of time, housing costs + increased interest rates.
Moving to bay Area -- Logistics
If both spouses work and you are willing to afford 1 million, I don't see any problem. If you have long term plans (>5yrs) you can buy the house instead of renting.
Money, housing, logistics wise you don't have a big problem. But, you have to weigh other advantages and disadvantages. One more factor you may want to add apart from the items you mentioned is that higher education choices are better in east coast for your kids compared to California.
Money, housing, logistics wise you don't have a big problem. But, you have to weigh other advantages and disadvantages. One more factor you may want to add apart from the items you mentioned is that higher education choices are better in east coast for your kids compared to California.
Moving to bay Area -- Logistics
Ana,
This was discussed in detail in this thread almost 9 months back. There were many posts showing both pros and cons of the move.
http://www.r2iclubforums.com/clubvb/showthread.php?t=1411
We moved from east coast to Bay Area and we live in south bay area (Santa Clara-Sunnyvale-San Jose-Cupertino belt).Our move was a desperate measure to handle sudden prognosis in health and was not a planned move so many surprises were not anticipated. Now after almost 15 months after the move, I still get nostalgic about the community and friends I left and the Redsox and the NE patriots :-). Kids(and us) miss some things too because now our family is spread between east and west. My advice is to stay put if you are satisfied with your quality of life and with job security as there will be difficulties everywhere and bay area isn't utopia :-) even if you have to shovel snow now and then but you are closer to India than bay area residents!
My personal opinion is move hits you hard when you have grown roots in one area.For people moving from elsewhere to bay area, cost of living is high and it takes couple of seasons to get over the the initial shocks. Most of the long time resident Indians lived here from the beginning or moved from another area within first few years of their stay in US before they grew roots elsewhere and there are lot of millionaires in the good school district neighborhoods to make you feel not so better :-). So naturally they love it as any long time resident would. But outsiders need to warm up to get the similar feeling and it takes time, not that it doesn't happen but it takes time.Also it's difficult to get over nostalgia if you have stayed in one area for a long time.
HTH
This was discussed in detail in this thread almost 9 months back. There were many posts showing both pros and cons of the move.
http://www.r2iclubforums.com/clubvb/showthread.php?t=1411
We moved from east coast to Bay Area and we live in south bay area (Santa Clara-Sunnyvale-San Jose-Cupertino belt).Our move was a desperate measure to handle sudden prognosis in health and was not a planned move so many surprises were not anticipated. Now after almost 15 months after the move, I still get nostalgic about the community and friends I left and the Redsox and the NE patriots :-). Kids(and us) miss some things too because now our family is spread between east and west. My advice is to stay put if you are satisfied with your quality of life and with job security as there will be difficulties everywhere and bay area isn't utopia :-) even if you have to shovel snow now and then but you are closer to India than bay area residents!
My personal opinion is move hits you hard when you have grown roots in one area.For people moving from elsewhere to bay area, cost of living is high and it takes couple of seasons to get over the the initial shocks. Most of the long time resident Indians lived here from the beginning or moved from another area within first few years of their stay in US before they grew roots elsewhere and there are lot of millionaires in the good school district neighborhoods to make you feel not so better :-). So naturally they love it as any long time resident would. But outsiders need to warm up to get the similar feeling and it takes time, not that it doesn't happen but it takes time.Also it's difficult to get over nostalgia if you have stayed in one area for a long time.
HTH
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desihometown
- Posts: 314
- Joined: Sat Feb 10, 2007 4:38 am
Moving to bay Area -- Logistics
If u are you like me (w.r.t weather), I cant take the cold in the Bay Area in winter too.
Since the last 3 weeks, I just turn the heater ON after 7PM at home and dont step put till 9:00AM in the morning. (the heater is continuously o).
So, its not like, in the winter, you can go out hiking in shorts in the evenings.
Now, about weekends, even on weekends, I dont go out unless I have to do groceries or something 'coz its so cold.
So, dont think that weather-wise it will be a disney land here. Every winter
I try to go to India (near B'lore) to escape this cold. Everytime I'm thinking
man, I was I can strike a deal with my boss to work from Bangalore for 3 months in winter. Unfortunately, I need a big lab set-up with too many gadgets. So, its not exactly a can-work-from-home type job.
I have not bought a house here, 'coz decent SFH will cost 800K in a OK place and in cupertino or saratoga or fremont (mission school district) it will
be 1M+ for a SFH.
Subtract around 200K for townhome from the above.
And you right, both of you have to work. My wife and I can afford this, but I choose to rent, 'coz I'm not the kind of guy that can handle that kind of pressure. Again, I'm a DINK, so your priorities might be different.
But, your observation about you owning a smaller home compared to your friends is right. One of my friend R2Ied 4 years ago after selling his home in Fremont (just b4 bay area real estate boom).
After 2 years in BLR, he and his family R2Aed. Funny (or sad) thing is, they could not buy back their old home, which had appreciated by 50-60%.
So, they moved to upstate new york to buy a bigger home, 'coz a big home was their priority (with 2 kids).
So, make sure you are doing this for the right reason. And dont under-estimate that it can get REALLY cold in the bay area as well in winter. So, tennis with chaddi is out.
Since the last 3 weeks, I just turn the heater ON after 7PM at home and dont step put till 9:00AM in the morning. (the heater is continuously o).
So, its not like, in the winter, you can go out hiking in shorts in the evenings.
Now, about weekends, even on weekends, I dont go out unless I have to do groceries or something 'coz its so cold.
So, dont think that weather-wise it will be a disney land here. Every winter
I try to go to India (near B'lore) to escape this cold. Everytime I'm thinking
man, I was I can strike a deal with my boss to work from Bangalore for 3 months in winter. Unfortunately, I need a big lab set-up with too many gadgets. So, its not exactly a can-work-from-home type job.
I have not bought a house here, 'coz decent SFH will cost 800K in a OK place and in cupertino or saratoga or fremont (mission school district) it will
be 1M+ for a SFH.
Subtract around 200K for townhome from the above.
And you right, both of you have to work. My wife and I can afford this, but I choose to rent, 'coz I'm not the kind of guy that can handle that kind of pressure. Again, I'm a DINK, so your priorities might be different.
But, your observation about you owning a smaller home compared to your friends is right. One of my friend R2Ied 4 years ago after selling his home in Fremont (just b4 bay area real estate boom).
After 2 years in BLR, he and his family R2Aed. Funny (or sad) thing is, they could not buy back their old home, which had appreciated by 50-60%.
So, they moved to upstate new york to buy a bigger home, 'coz a big home was their priority (with 2 kids).
So, make sure you are doing this for the right reason. And dont under-estimate that it can get REALLY cold in the bay area as well in winter. So, tennis with chaddi is out.
Moving to bay Area -- Logistics
In my opinion, there is no perfect place with regards to weather. One has to put up with some difficulties regards to weather where ever he/she lives. I know people that R2Ied to Chennai, now complaining about the heat there. Delhi has horrible summer and horrible winter. Winter in Bangalore is not good as well for people allergic to pollen. Add to that the pollution smoke you have now. I know people in Scandinavia that enjoy the winter there. Scandinavians are highly productive in winter. They work all the time during the winter and take vacation during summer.
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moneyIsNot_funny
- Posts: 1590
- Joined: Tue Jan 16, 2007 11:14 am
Moving to bay Area -- Logistics
OP -
Please don't listen to excuses that all homes in Bay Area are 1M +. There are SFH homes/town homes of wide variety of prices here, based on the different constraints. There are even new homes (and obviously THs) less than 1M that a two income family can easily afford.
First decide if you want to move. If you do, find an apt to settle down for a while so that you can investigate the different areas that could possibly match your criteria. For e.g, you haven't mentioned the age group of your kid(s). If they are elementary school kids, there are enough SFH/THs comfortably less than 1M+ in Bay Area in good school districts (Of course, don't be picky in saying that you want to be only in San Francisco city).
There are ways to make it work if you are convinced that you want to move to Bay Area. Its not by coincidence that many Indians living here do find it affordable to live, and its not that all of us have become rich by stock options.
Please don't listen to excuses that all homes in Bay Area are 1M +. There are SFH homes/town homes of wide variety of prices here, based on the different constraints. There are even new homes (and obviously THs) less than 1M that a two income family can easily afford.
First decide if you want to move. If you do, find an apt to settle down for a while so that you can investigate the different areas that could possibly match your criteria. For e.g, you haven't mentioned the age group of your kid(s). If they are elementary school kids, there are enough SFH/THs comfortably less than 1M+ in Bay Area in good school districts (Of course, don't be picky in saying that you want to be only in San Francisco city).
There are ways to make it work if you are convinced that you want to move to Bay Area. Its not by coincidence that many Indians living here do find it affordable to live, and its not that all of us have become rich by stock options.
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desihometown
- Posts: 314
- Joined: Sat Feb 10, 2007 4:38 am
Moving to bay Area -- Logistics
#9, can you please let me know where in the bayarea SFH in good school districts are < 750K-800K ?
Do u know of any new TH communities in decent locations as well ?
Mission garden townhomes in santa clara is in the low 700s.
Evergreen SFHs are also in the low 700s. But, thats out in the boondocks.
Do u know of any new TH communities in decent locations as well ?
Mission garden townhomes in santa clara is in the low 700s.
Evergreen SFHs are also in the low 700s. But, thats out in the boondocks.
Moving to bay Area -- Logistics
moneyIsNot_funny;64580
There are ways to make it work if you are convinced that you want to move to Bay Area. Its not by coincidence that many Indians living here do find it affordable to live, and its not that all of us have become rich by stock options.[/quote]
Just curious! Were you in bay area during 2002-2003?