How do you afford to live in California? (Fresno: house, buy)

[jklmnop]

Originally Posted by bicoastal10

LOL @ everyone in here thinking $200-300k is a lot of money in CA, especially in LA/SD/Bay Area. Sure, if you're single and have very little or no debt it's definitely a lot of money, but most people who make that kind of money have a family to provide for and debts. It's basically the equivalent of raising a family of 3-4 on $140k in a city like Boston, Philly, Charlotte, Tampa, Denver; a decent life, but nothing spectacular.

Personally, if I were the OP, I'd look into finding a comparable job in a city like Las Vegas or Phoenix where $200-300k (or even $180-230k) really would get you a more luxurious lifestyle (if that's what he wants) because that same income in many areas of CA is just middle/upper middle class.

That is exactly what I was thinking. It is a lot of money, not complaining, but it doesn't go as far as people think.

I have never been a fan of Vegas or Phoenix even though I know my salary would go a lot further in other states. I am willing to pay the "ocean" tax of California for a more modest lifestyle.

[Bruin Rick]

Originally Posted by JohnG72

OP's post doesn't make any sense. $500-700K will buy you a 3/2 2000 sq ft home in almost every community in LA. The only exceptions I can think of are very upscale rich areas(Beverly Hills, Palos Verdes, San Marino, Newport Beach, Santa Monica, South Pasadena, etc).

But it gets you a nice home in areas with 9 and 10 rated high schools....the northern part of San Gabriel, Temple City, Irvine, Cerritos, Torrance, Walnut, Glendora, La Crescenta, etc.

Also works in areas with 8 rated high schools like Burbank and Glendale

7 rated schools in Culver City with $700K being on the low end for that city, if you need to live on the Westside.

If you are ok with 7 rated high schools(which are perfectly fine BTW), $400K does the job and then some in Long Beach, Lakewood, Whittier, West Covina, etc.

With a $200K income and current interest rates, one should be able to afford a home up to $700K using a 3.5% down FHA loan.

I would rather live in Burbank or Culver City over Torrance.

[Bruin Rick]

Originally Posted by jklmnop

That is exactly what I was thinking. It is a lot of money, not complaining, but it doesn't go as far as people think.

I have never been a fan of Vegas or Phoenix even though I know my salary would go a lot further in other states. I am willing to pay the "ocean" tax of California for a more modest lifestyle.

I live in Las Vegas for a reason and that is because you can live better on much less here. You can have a bigger house and a better car. Plus pay no income tax. Despite what these people tell you, you will not live too good in California without a very good salary. Forget all those days at the beach too because you will have to work 2 jobs just to pay rent/mortgage and even basic bills. Your car insurance in CA will be 2 times what it cost anywhere else almost. Your gas will be higher. And every family member will need a car because public transit sucks in every place except the bay area.

[nullgeo]

Originally Posted by Bruin Rick

I live in Las Vegas for a reason and that is because you can live better on much less here. You can have a bigger house and a better car. Plus pay no income tax. Despite what these people tell you, you will not live too good in California without a very good salary. Forget all those days at the beach too because you will have to work 2 jobs just to pay rent/mortgage and even basic bills. Your car insurance in CA will be 2 times what it cost anywhere else almost. Your gas will be higher. And every family member will need a car because public transit sucks in every place except the bay area.

Define "live better": = bigger house and fancier car? You're welcome to it ... if that's your definition of a better life, then Vegas is a good spot for you.

But you're not even paying attention to the OP: he's a doctor ... a specialist ... he's not going to have to (or be willing to) hold down extra second jobs ... and his income range IS a "very good salary" by any standard in any community across the U.S. And car insurance is NOT 2x higher in California ... gasoline is a few cents higher, not enough to make a dent hardly anybody's budget unless they drive for a living ... and everybody in America everywhere almost gets their own car very young, regardless of good transit anymore. Taxes? phbbbbt. California is not hardly the highest among tax-burden states when one runs real comparables.

Can a person live cheaper than the above mentioned issues by going to Timbuktu, Amerika? Sure. See ya'.

As for $200 - $300K in CA being like living in "Boston or Philly on $140K a year" ... nonsense, for starters ... and: what would be hard about living on $140K a year, even in California? What a bunch of whiner crybaby entitlement spoiled brats posting on this thread! (Not you, jklmnop ... just half the folks responding to the thread.)

[Ultrarunner]

I know quite a few that are living the CA lifestyle by renting...

A good friend of a friend rents an Au-Pair quarters in a 7,000 square foot Piedmont home... she is a doctor and single... she pays very little because the family wants to have someone there because they travel a lot...

She lives on a street where a starter home would be north of a million...

People have told her she needs to buy a house... she says maybe someday if and when I have a family.

Another Doctor pays $3500 a month for a swank SF Condo and the right place in town...

You have options is all I am saying.

[CA4Now]

Originally Posted by jklmnop

I am not sure how these four categories break down numbers wise but I am guessing group 4 probably makes up a decent chunk of californians. Exactly what I hope to avoid, being a pretender and living above my means.

I disagree. I think the whole "Pretender" stereotype is made up by people who either don't live in California or by those who like to hear about others' misfortunes. I know two couples who've lost their home to foreclosure (one of whom lives in the Pacific Northwest). Neither was "pretending"; they just bought at the wrong time. And there are a high percentage of homes in the Inland Empire, where foreclosure is at its highest, which were due to owners being talked into loans they couldn't afford by unscrupulous mortgage loan consultants.

[Mr.Kurtz]

To Residents of California:

You can't beat the system. And the unfortunate truth ... if you're not super rich then you will always be a slave to the Dollar. California residents are modern day slaves. They choose to live in the most expensive state in the union and therefore you must accept the negatives that go with that.

I chose to leave CA a long time ago when I saw the sh*t hit the fan.

I'm a lucky one.

[Ultrarunner]

Originally Posted by Mr.Kurtz

To Residents of California:

You can't beat the system. And the unfortunate truth ... if you're not super rich then you will always be a slave to the Dollar. California residents are modern day slaves. They choose to live in the most expensive state in the union and therefore you must accept the negatives that go with that.

I chose to leave CA a long time ago when I saw the sh*t hit the fan.

I'm a lucky one.

Some of us choose to stay because when you get down to it... there really isn't any place like California...

Not everyone is a slave to the Dollar and people still come here with nothing a make a good life...

Problems come and go...

My former neighbors moved to the Fort Myers area and are looking to leave... they just can't live through any more Hurricanes or the exorbitant Insurance Premiums they now pay....

They sold there California home in 5 years ago and walked away with a bundle of cash... just like many others. Unfortunately, the home they bought in Florida has taken a huge hit price wise...

[Rhenzanite]

Originally Posted by Mr.Kurtz

To Residents of California:

You can't beat the system. And the unfortunate truth ... if you're not super rich then you will always be a slave to the Dollar. California residents are modern day slaves. They choose to live in the most expensive state in the union and therefore you must accept the negatives that go with that.

I chose to leave CA a long time ago when I saw the sh*t hit the fan.

I'm a lucky one.

I pay $300 a month for 2 bedrooms in a 4 bedroom manufactured home on 180 acres 5 miles from the beach. I have a great job and live quite comfortably in one of the most desirable places in the country.

I'd say I'm doin alright. I don't require or desire a big house or an expensive car.. Not everyone considers material possessions the end all be all of life.

[Mr.Kurtz]

Originally Posted by Ultrarunner

My former neighbors moved to Fort Myers.

Fort Myers is a well known undesirable area. IMO, a dump. I would never live there. Perhaps your neighbors didn't do enough research before relocating. Blame them, not the city they chose to relocate. Better yet, move to Arizona because it's so much closer to CA.

Ta ta...