affording san diego (Oceanside, Orange, Carlsbad: sale, apartment, rental)

[bedrock]

I'm thinking very seriously about moving to SD this year and I'll be making 220-260K. Does that just get you in the door or can you actually afford something remotely near the ocean?

[tsuyoi_racing]

Originally Posted by bedrock

I'm thinking very seriously about moving to SD this year and I'll be making 220-260K. Does that just get you in the door or can you actually afford something remotely near the ocean?

I take it you're being sarcastic? I think you're making more than the President.

[happykid]

Originally Posted by tsuyoi_racing

I take it you're being sarcastic? I think you're making more than the President.

It seems that every time someone with a 250K + income asks about affordability, people ask if they are being sarcastic, but at the same time complain about how expensive this city is . . .
It is reasonable for even high income people to be scared about the cost of living here. People with much higher incomes than that have trouble affording a nice house in a really good location. Heck--multimillionaires get disappointed to find out that they cannot buy any decent beachfront property in La Jolla or Coronado for less than 15 million. Also it is really hard to get a loan these days unless you put at least 20% down, so high income is not enough--you gotta have savings.

To answer Bedrock's question about being able to afford anything near the beach on a 220-260K a year salary, yes you can. However, what do you mean by anything? If you mean literally anything, you can afford actually quite a lot. If you want a beachfront mansion, no.
If you are renting, you can get something really big (3000 plus sq feet) and fancy by the beach in North County for 5000 a month(Encinitas, Carlsbad, etc.). But at that amount, it is probably wiser to buy. I am not that familiar with North County coastal, but I imagine you can get a pretty nice large, 4 bdrm house for around a million that is a just a 1-2 miles from the beach with no view. If you want to be in central coastal, you can get a very nice, 2300- 2800 sq. ft., 3-4 bedroom home in Point Loma that is close to the beach, but does not have a view for 950K to 1.2K. (Liberty Station!) You may even be able to get a decent view property that is over 2000 sq. ft for around a million in the various Point Loma neighborhoods. These same home as rentals run around 3000-4000. My suggestion, rent for a few months, find a coastal location that you like that is close to your work and then buy.

[Huckleberry3911948]

my uncle in mississippi says, bunky, livin in california is like livin with a beautiful woman, that has a headache all the time.

[seventhcandle]

The question of affordability in San Diego is only constrained by what your quality of life expectations are, as is the case with any place you live.

The problem with SD is that there aren't enough high-paying jobs to support the high cost of living here, especially in some of the more desirable North County areas.

I'm a full-time community college teacher here in SD and I make about $48,000 a year before taxes. I have a stay-at-home wife and a 9 month old infant and although I know we cannot afford a single family home even with the market conditions, there are some decent condo complexes near where we live, many of which are selling in the $200,000 range for a 2bed/1bath or even a 2bed/2bath. So even on my moderate income, I feel able to support my family and I also feel that I have a decent standard of living.

San Diego has one of the best climates in the world and there are plenty of things to do here. It's much cheaper to live here than it is to live in Orange County, Los Angeles, and San Francisco, and the quality of life here is not that much different.

So, if you're happy with living in a 2bd/2ba condo & you have decent credit, I think you can do quite well here.

[leighland]

Originally Posted by seventhcandle

I'm a full-time community college teacher here in SD and I make about $48,000 a year before taxes. .

I think 48K is a lot to make in SD an an employee. Generally, residents are doing very well and making much much more than that (100's) or they are making, more like 32-35k. At least that was our experience.

[vfrpilot]

The affordability in San Diego is definitely getting closer to being realistic. The 4-bedroom home next to our old home sold in 2005 for 510k. It's listed now for 360k. It's in a nicer older neighborhood on top of a hill in San Marcos. It's still pretty steep, but 150k drop in a couple years is nothing to sneeze at. I'd rent for a while because it looks like the bottom has not been reached yet.

[cnkad]

Originally Posted by kimmer

Is anything in Ramona left after the fires? Maybe some of the main street?

Oh, and a message for everyone who is moving to San Diego, please please get earthquake insurance. We're overdue for the Big One (as they call it). We do have some major fault lines in the county, and it's not a question of if, but when.

Sorry to be so negative, but both fire & earthquake threats are a fact of life in So. Cal.

Actually, this time around no homes in the estates were lost. Last big fire, there were some homes in the estates that burned. (in the ceder fire) hey kimmer, so regular home owners insurance doesnt cover earthquakes? I know it doesnt cover floods but I didnt know about earthquakes. I dont have a house, but it is good to know for the future. Thanks.

And about Bedrocks question about living near the ocean, especially if you are renting, you can def. rent something nice on that salary near the ocean in north county at least. I wont say how much we make, but it is less than 100k, and we live within walking distance of the beach in a decent duplex. So you should be able to find something real nice on your salary.

[kimmer]

Good to know about Ramona. Seemed for awhile there that the fire was going to ravage the entire town!

No, Homeowners insurance doesn't cover earthquakes. We have earthquake coverage through CEA (California Earthquake Authority) .

California Earthquake Authority (CEA) Version 2.0

Thanks

[sonicman25]

I totally agree with the original poster. I live in Minneapolis and I feel the same way. I plan on moving to San Diego within the next few years. I'm realistic enough to realize that if I get a family someday then SD will probably be too expensive. But I'm 22 and about to finish college. I don't have to worry about kids or buying houses or anything like that. So I think now is probably the best time to try and make the move.