Considering relocating from Canada to California, needing advice! (San Diego, Sacramento: equity, real estate)

[doctorljcc]

My wife and I are both 26. I am a carpenter and she is a junior accountant. We have lived in South Eastern Canada all of our lives. Working in construction, the weather can wreak havoc on a work week. summer time...75-95 degree heat with unbearable humidity from mid June- Mid August , winter time can reach temps of -40, w/horrible wind chill, heavy snowfall and freezing rain, From Dec - mid March. Don't missunderstand me. Canada is a very beautiful country and other than the weather, there are'nt too many negative things to say about it. We simply feel that it is time for a change. I have always wanted to live in CA, and after a visit to the Bay area, I knew that CA was the place for me. We live directly between Toronto and Montreal in a town of roughly 5000 people. The next nearest city (15-20 min commute)has a population in the neighborhood of 117,000. We are open to suggestion as to what part of CA would be most suitable for both of us, and similar to the area we currently reside? We both realize that the COL is quite a bit higher than what it is here. This is not really a huge issue w/either of us. We're not looking to move to CA and become wealthy, but we dont want to go broke either. We currently own a house worth,in the area of $200,000 CDN. Not sure what that converts to exactley. Where might a good place be, that would be similar to where we are now? Minus the negative weather. I should state that 15 degrees in Canada, most are still wearing shorts, and 0 degrees some are still barbequing. So your worst weather is'nt really a big concern either. Where would we be most likely to find "successful/reasonable" employment in both of our careers? (Carpenter & Accountant) Your imput/advice will be taken constructivly and greatly appreciated, so please, don't hesitate in your response. Thanks _Doctorljcc

[Kingsnkali]

I think the USD and Canadian Dollar are pretty close to each other in value now. Your money will go further. That being said, you would still have a very tough time finding a home for 200k anywhere near the Bay Area. They really don't exist unless you want to live in a borderline ghetto.

I would recommend somewhere toward the Central Valley. Sacramento area etc. Even there, you would need close to 300k to find something ok to live in. Of course, with some sweat equity (buy a fixer) you could get in cheaper. The Mother Lode foothills of the Sierra are nice too. More toward a four seasons climate but still quite mild and pretty.

Your better option might be to rent and save as much as you can. Enjoy the scenery of northern Cal. Get your jobs lined up and salaries on the uptrend.

You could rent in the higher cost coastal areas as well, but the dream of owning a home would be much harder to realize there.

Good luck.

[doctorljcc]

Thanks. I should have mentioned that I wasn't completely sold on the bay area...It just happened to be the first region of CA that I visited. The whole state fascinates me. I would love to know more about the whole place.

[Carolyn Montgomery]

Hi!

Unfortunately, $200,000 is not going to buy you a decent house in Sacramento, either. You might possibly consider a condo. THere is a good job market in Sacramento as we are the state capitol. You also might consider buying 1/2 of a duplex. Also, try looking at the older homes in West Sacramento.

Carolyn Montgomery
Realtor

[EscapeCalifornia]

What kind of carpenter are you? Unless you're an absolute amazing pro who can charge lots of money to very wealthy people, you'd better learn to speak Spanish and live 15 to a house because that's who you'll be competing with for work.

How much equity do you have in your house now? That'll be what determines how much you can put down on a house here. How much you borrow depends on your tolerance for being house poor. Everyone in California seems to think its normal and proper to spend half your gross monthly income on an interest only house payment.

[greatbasinguide]

Median price of a home in San Luis Obispo County, one of the finer locales is $504,000.

North coast about $300,000.

Truckee about $729,000

[EscapeCalifornia]

Originally Posted by greatbasinguide

Median price of a home in San Luis Obispo County, one of the finer locales is $504,000.

I've been to that area many times and I just don't see how the economy supports houses that expensive. Its almost as expensive as LA/OC/SD but at least there's millions of jobs here. I drive up the Central Coast and all I see are ranches, farms, retail, and Cal Poly.

[Desertho]

Check out San Diego. It's real estate prices are dropping fast, one of the worst in the nation. But you'll be hard-pressed to find anyone who doesn't think it's one of the best places to live in the state. Employment is also easy to come by for a metro of 3 million. If you guys ever want to start a family, it has a decent public school system.

[greatbasinguide]

7% of the residents of San Luis Obispo County can afford a median priced home.