Planning on moving to Newport Beach from Philly Area? (Santa Ana: sales, real estate)

[jackdaniels022]

I was planning on moving to Newport Beach from the Philly Area. I was offered a job in Newport Beach making 85,000 year. Would I be able to afford living in Newport Beach. I'm looking for a 1bd apartment at this time. So I was wondering how much apartments cost out there. I was also wondering how much homes cost in Newport Beach area for when I actually do get a house. I was also wondering how much the cost of living in CA in general is?
Thanks

[socal359]

I would think you would be fine with a 1br, there are alot of people in Newport doing it for way less. Houses in Newport are way expensive from the multi million dollar homes up on Newprt Coast and anywhere close to the beach is going to be outrageous. A guy I work with bought a house for $850k in Newport but inland, no ocean view,2br,1.5 bath and I think about 1200 sqft. Seemed high to me but he got the Newport address and all the prestige that comes with it.

[Charles]

Originally Posted by jackdaniels022

IWould I be able to afford living in Newport Beach. .....
I was also wondering how much homes cost in Newport Beach area for when I actually do get a house.


I was also wondering how much the cost of living in CA in general is?
Thanks

Why didn't you go to some of the real estate databases (realtor.com for example) first?

Gas is a little more. No need for A/C and a lot less need for furnace fuel. Everything else is about the same. Real estate is the killer.

[EscapeCalifornia]

$85k is a good, solid, comfortable renter's income in Newport Beach. You should also look at renting in Costa Mesa. There's some nice complexes there and its cheaper than Newport. Forget buying anything unless you want a 1 bedroom condo (converted from an apartment) in Santa Ana or have a $100k+ for a down payment.

[kturbe]

On $85k you could easily find a rental in Newport Beach and any of the surrouding areas, Costa Mesa, Corona Del Mar, etc. Rents averagea from $1300.00-$4000.00! Closer to the beach the more expensive. If you are considering buying there are several newer complexes in east costa mesa/south coast area that you can get a 3 bed for around $600k.
But since you are just moving here, renting is probably a good idea so you can find an area you like first.

[EscapeCalifornia]

Originally Posted by kturbe

On $85k you could easily find a rental in Newport Beach and any of the surrouding areas, Costa Mesa, Corona Del Mar, etc. Rents averagea from $1300.00-$4000.00! Closer to the beach the more expensive. If you are considering buying there are several newer complexes in east costa mesa/south coast area that you can get a 3 bed for around $600k.
But since you are just moving here, renting is probably a good idea so you can find an area you like first.

7x his income. Sounds like a plan!

[oc2nyc]

Originally Posted by EscapeCalifornia

7x his income. Sounds like a plan!

Isn't that what most people do out here in Orange County? Live beyond their means? He would fit right in!

[kturbe]

The question was can he make it on $85k a year and plenty of people do on far less. The choice to rent or buy is theirs.

[dakicka]

You can easily live off of 85K and rent a beautiful place in newport beach provided you don't have 50K in debt! I know several people who are making it with 45K and less than 20K in student loan debt and credit cards. Look into Turtle Ridge in Irvine, right next to Newport, best bang for your buck in my opinion- 1600/ or so for a 1 BR 780 sq ft give or take, also Park Newport in Newport Beach is popular and Newport Bluffs in Newport but the bluffs I think are a bit overpriced- turtle ridge is 1 mile east and same quality, couple hundred cheaper and better pool and updated amenities. to answer your cost of living questions, regardless of what the figures/stats say, from what I've experienced first hand the last 9 months is that most things you buy are roughly 15-20% more than in NJ or PA. Plus the sales tax is 7.75% This includes going to Mcdonalds, going out to eat, buying groceries, and gas. However gym memberships are so cheap out here, I joined 24 hour fitness for 24.00/month no sign up fee, lifetime pass, good for every gym they offer except the 'ultra sport' in irvine. Good luck. PS It's going to be a HUGE change in many aspects if you're coming from Philly, I moved from NJ this year and still trying to adjust.