Family of 3 Salary needed to live in Santa Barbara/Goleta (Santa Maria: rental, condo) - California (CA) - City-Data Forum

gdg40 · 02-19-2013, 03:14 AM

Hello,

My wife and I are considering moving to Santa Barbara for joint job offers. We are trying to figure out what we need to ask for in order to live relatively comfortably. She is an Engineer with about five years experience. I am in mid level management for a fairly large fortune 500 company. At first we were thinking a joint income of $150k per annum would suffice, but after reading some of the horror stories I am thinking that with daycare and student loans we may need to be more around $170k (which may kill the deal). Is it really that expensive? We have lived in the Southbay CA area as well as Northern VA around DC. But the data I am seeing is placing the costs particularly housing much higher. Any help would truly be appreciated. Thank you!

Social Democrat · 02-19-2013, 07:55 AM

Are you renting or buying? Yes Santa Barbara/Goleta is very expensive, the huge factor being the cost of housing. You would probably be ok with 150K a year for renting or maybe a small condo, if buying, but a single family house may not work out for you.
There is Ventura to the south and Santa MAria to the north which obviously require a commute but more affordable.

gdg40 · 02-19-2013, 05:41 PM

Thank you for the response. I am guessing the commute from Santa Maria south is worse than Ventura north am I wrong? The wife is anti commute since the baby will be in daycare and she wants to be able to respond to home quickly if needed. We both have heard horror stories about the 101 and traffic, but we have lived in DC area and LA I can't imagine the traffic is like that.

CAVA1990 · 02-19-2013, 05:50 PM

The median value of a home in Santa Barbara is $926,000. Even if you can find a place to rent I'm thinking you'll be unhappy constantly realizing you can never buy something. I wouldn't move somewhere like that at your age and place in life. Since I've already raised kids and owned homes that wouldn't bother me. Perhaps save it for later.

gdg40 · 02-19-2013, 06:08 PM

Quote:

Originally Posted by CAVA1990

The median value of a home in Santa Barbara is $926,000. Even if you can find a place to rent I'm thinking you'll be unhappy constantly realizing you can never buy something. I wouldn't move somewhere like that at your age and place in life. Since I've already raised kids and owned homes that wouldn't bother me. Perhaps save it for later.

Thank you, that cost is atrocious lol. We are considering buying an investment place in Las Vegas or Arizona if we take the jobs in Goleta/Santa Barbara. And we already have a rental home in Tucson that we have nearly paid off. So we wouldn't mind renting a nice condo. I personally think that we would not be there more than 4 to 5 years as my company likes to rotate folks. I am actually more concerned about the rent, food, entertainment, gas, taxes etc. That on top of already high rents may be the killer.

CAVA1990 · 02-19-2013, 08:05 PM

Quote:

Originally Posted by gdg40

Thank you, that cost is atrocious lol. We are considering buying an investment place in Las Vegas or Arizona if we take the jobs in Goleta/Santa Barbara. And we already have a rental home in Tucson that we have nearly paid off. So we wouldn't mind renting a nice condo. I personally think that we would not be there more than 4 to 5 years as my company likes to rotate folks. I am actually more concerned about the rent, food, entertainment, gas, taxes etc. That on top of already high rents may be the killer.

Everything besides rent is going to be pretty much the same no matter where you are. On $150K any differences woud be hardly noticeable and probably not material enough to sway your decision.

calkidwilly · 02-19-2013, 09:53 PM

GDG40,

I've lived in Santa Barbara (SB) for almost thirty years now. I rent and most likely will not be able to buy a place in SB that I would be happy to live in long term. With just two of us, we bring in around $175k and we live comfortably, but very modestly. We're paying $2,800/month for an average two bedroom, two bath condo, 1100 sq. ft. Housing is really the only expense that is comparatively more expensive than other locations. It's a beautiful place to live. The weather is better further south, but traveling south means much larger populations and the associated problems that brings. If you love the outdoors and natural beauty, it's tough to beat. You both must be willing, however, to sacrifice to live here. Very limited job opportunities. Very limited housing stock. Let us know if you have any specific questions. Best of luck finding your spot!
CalKidWilly

bigdumbgod · 02-19-2013, 11:34 PM

Ojai, maybe?

Social Democrat · 02-20-2013, 08:29 AM

I believe Ventura would be the better commute than from Santa Maria and may have more of the lifestyle you would enjoy.
Excellent post by Calkidwilly - if renting is ok with you then that may be the way to go. Given the ever increasing cost of gasoline and wear and tear on vehicles the net financial result should be about the same. Additonally, it would save your sanity and keep your wife close in case she does need to go to the day care facility - much more peace of mind. Having more time to enjoy SB would make sacrifices to live there much more tolerable.
Wish you guys the best and please let us know what you decide.

gdg40 · 02-20-2013, 09:00 AM

Thanks to all of you for your responses. Definitely giving me things to think about. I am fine with renting so now just need to get the final offer :-) thanks again.