Annual Salary Needed To Buy Home in San Diego: $108K

[1AngryTaxPayer]

Originally Posted by someguy10

By having 6 months or more of all expenses saved in cash or near-cash--this over and above the down payment cash. Of course people cutting their budget super close to begin with are probably going to find it hard to grow/keep the cushion.

Also, by being realistic about the future. Having two earners each making $100K obviously provides more job loss protection than a single $200K earner (some of the benefit is lost if both are in the same industry/same employer/etc.). But I believe at least several DINKS have posted here about moving to CA with kids on the near horizon. At a minimum, there is going to be the high expense of daycare coming in. Plus the whopper of the possibility that one of the two may want or need to stop working.

Yep, me getting hit by a car on my bike almost sunk us as I was out of work for almost a year with surgeries and the ensuing court fight.

[Cardiff Kook]

1ATP did you get a nice settlement at least? Sorry to hear that..

[sfosyd]

Originally Posted by oddstray

And, as always, the fly in the ointment is the possibility of recession and layoffs. How does one mitigate that risk?

For me, it is making my primary home in a city where I know I can always find a high paying job. As of right now, the job is very flexible and allows me to spend at least half my time in SD. But I sleep better knowing I am not beholden to the San Diego economy and sunshine tax.

[someguy10]

Originally Posted by sfosyd

For me, it is making my primary home in a city where I know I can always find a high paying job. As of right now, the job is very flexible and allows me to spend at least half my time in SD. But I sleep better knowing I am not beholden to the San Diego economy and sunshine tax.

+1

This works, too, if you have the option. Also, if your primary home is in a lower state income tax area and you are a high earner, the state income tax savings could pay for the primary residence and then some.

[Pedro2000]

Originally Posted by sfosyd

For me, it is making my primary home in a city where I know I can always find a high paying job. As of right now, the job is very flexible and allows me to spend at least half my time in SD. But I sleep better knowing I am not beholden to the San Diego economy and sunshine tax.

The best option is not being beholden to SD for work. If you can do this, it's a great place to live and you never really worry about losing your job here. But at the same time, for many of us, it also means you might need to travel elsewhere because there really are few clients, high paying clients, that exist in SD. Sometimes you get to work remote often, sometimes you don't, but I'd rather be doing that than relying on the few large companies in SD. And most of other companies don't even pay well anyway.

[incognitoe]

Same with Orange County. Not sure how people are buying homes when the avg income here is 70k.

[LuvSouthOC]

Originally Posted by incognitoe

Same with Orange County. Not sure how people are buying homes when the avg income here is 70k.

Well, yes, that and the fact that it takes over 141,000 to buy a median priced home in OC.

[someguy10]

Originally Posted by 1AngryTaxPayer

Yep, me getting hit by a car on my bike almost sunk us as I was out of work for almost a year with surgeries and the ensuing court fight.

As a fellow cyclist, sorry to hear that and hope you are fully recovered.