CRAZY! We're going Texas TO SoCal... Five member family (San Diego: sales, real estate)

[jav1107ecu]

When I first started googling moving to San Diego, all I saw was info for people moving OUT. Not too much info on the google machine, so City-Data, here we are. I have read the first five or six pages on the forum, before I got to information that I didn't think was as timely - so yes, I've read through quite a bit before posting.

We're in the Dallas/Fort Worth, TX suburbs now. Blended cross-cultural family, my wife and two of my kids (11 and 14) are from Singapore, and we have a third pequeño texana (little Texan) four weeks old tomorrow. I don't own currently - although I have before, and my wife and I have some overseas property. We pay $2,050 for a 4br/3ba 2800 sqft suburban cookie cutter here in the DFW metro with top 10% schools in the country. Have two decent paid off cars and 100% zero debt save my student loans (not much).

Company has offered me a regional operations role and relocation package. My territory will be basically everything San Jose south, and all of Nevada, New Mexico, and Arizona. In 2019, I'll have all of CA. Move after the kids get out of school, beginning of June this year.

They want me in Socal, near the biotech cluster in San Diego, which is basically a large swath between Poway and Carlsbad, but primarily north of the airport. This is a requirement - they want me within handshake distance of this cluster. Although my vehicle travel will be San Diego and Orange counties, I will fly for anything north of Thousand Oaks (our farthest North LA client base). So I need to be within 45-60 minutes of an airport - which pretty much narrows it down to SAN, obviously.

With the COL adjustment, I will base in the high $100's and bonus out annually into the low $200's. Yes, I've taken into account the fact that I don't pay income taxes in Texas. My wife does not currently work, although she is highly educated, she wants to stay with the baby for a few years.

We plan to be in SoCal for about 5 years. After my son goes to college, we'll move back to SE Asia. So the rent or buy decision is huge. I can rent something similar to what we have now, nice size 3 or 4br in a good area, close to the I5 (and beach), anywhere from San Clemente to San Diego for $4k - $5k. I can have a down payment for an $800k-$1m mortgage within 12 months if I slice my rental budget to $2k - $2.5k. It would take me 2-3 years to come close to that if I just did a lateral 'nice house to nice house' type move on the rent side. Sadly, I could buy anything in my current neighborhood tomorrow with 20% down - but I guess that's the price for great weather and good people.

In some ways I just wanted to open the whole thing up for suggestions and discussions, get the juices flowing - particularly for the buy/rent question. But there are some real questions: where should I really be looking between San Clemente and San Diego? Where are the best schools? (data shows me they're mostly all good, which can't be true). Can I get anything remotely close to the beach (for wifey) and in a good school district for $2,500 for a year? What's the average down payment out there - are people actually paying 20% for conventional loans, or are they a bit more lax (credit is A+). Even more importantly, what questions should I be asking?

I travel in the area quite frequently - I was up in Thousand Oaks just last Monday, so I know locations and travel times reasonably well. I've just never considered moving there until now - so this is a whole other ballgame.

[Axxlrod]

First off, welcome and congrats.

I'm confused, though. You say your company wants you to live "within handshake distance" of the biotech area, but you are considering houses anywhere between San Clemente and San Diego? I'd recommend the 56 corridor; from Carmel Valley to SantaLuz.

So, your annual income will be around $400K? That should allow you to live almost anywhere except La Jolla, Del Mar and Rancho Santa Fe. With that kind of income, you should have a large down payment saved up by now. Coastal SD real estate appreciates quite well, so I recommend you buy since you plan to be here for 5 years. Ask anybody who didn't, if they wish they would have bought 5 years ago.

[Rambler21]

Originally Posted by Axxlrod

First off, welcome and congrats.

I'm confused, though. You say your company wants you to live "within handshake distance" of the biotech area, but you are considering houses anywhere between San Clemente and San Diego? I'd recommend the 56 corridor; from Carmel Valley to SantaLuz.

So, your annual income will be around $400K? That should allow you to live almost anywhere except La Jolla, Del Mar and Rancho Santa Fe. With that kind of income, you should have a large down payment saved up by now. Coastal SD real estate appreciates quite well, so I recommend you buy since you plan to be here for 5 years. Ask anybody who didn't, if they wish they would have bought 5 years ago.

I think the OP meant he'll be in the low 200s after factoring in the bonus.

[jav1107ecu]

Firstly, no - annual will be low $200's - I meant that base is high 100's, with (annual) bonus I'll gross in the low $200's. If hotwife worked we could get closer to $300k, but we're just not looking at that right now.

Yes, we do have a down payment saved right now, enough to easily buy in DFW metro - not San Diego metro. I need another $50-75k to be able to comfortably drop a down payment in San Diego metro.

Handshake distance might be a stretch. Basically I'll need to get down there a couple times a week, have a few hours of meetings, and come back. So an hour, hour and a half drive isn't unrealistic. That's why I was looking as far north as San Clemente.

[Slytrix]

Not getting anything for $2,500 near the beach. Check Craigslist for current rentals available.

If you are only planning on staying 5 years and can't buy now just put that decision on hold for now.

[Axxlrod]

Well, only $200K vs. $400K is quite different.

I'm still confused on where you want to live.

You'll need to spend $4K+ to rent a 4 bedroom house in a good school district anywhere close to the 5 freeway.

[anita house]

WOW! How exciting for you and your family! I have family that lives right outside of Dallas as well and they love visiting us in San Diego (haha). Last time we were there a few months ago, we hung out at Top Golf which was a LOT of fun!

There are a lot of really great places/areas to choose from in San Diego--- more family friendly or coastal or inland? San Diego offers a little bit of everything. Rentals can be hard to find but with a little patience, it is doable . Most 3 and 4 bedroom houses and some apartment rentals along the coast go for around 3500-4000....just depends on what you are looking for.

It is hard to believe but the schools are really good--more great districts to choose from than not-- my kids are in fabulous public schools and we couldn't be happier!

There is tons of info at your fingertips and it is so hard to narrow it down-- it seems as if 'handshake distance' would be coastal---Encinitas, Leucadia, Carlsbad, Oceanside, Del Mar, Carmel Valley, Sorrento Valley, La Jolla, Mission Bay. Traffic can be a bear so if you can use the train that may be an option as well.

It is very smart of you to start the process now, ducks in a row is a good thing! Good Luck!

[loveautumn]

Wow, That’s a huge territory you’ll be covering, will you ever be home? Keep in mind the state taxes here that you will be hit with, whereas Texas has none, high gas prices, etc. This is a very expensive area to live. You made a comment “good weather and good people”...sounds a little idealistic, we do have our share of issues here. Note, I pay the same rent you do only for a 900 square foot one bedroom apt.

[spoonman1]

Anita made a good point. In case OP doesn't know, there is a train station in Sorrento Valley (among others). One option is taking the train (Coaster) and Uber vs driving if traffic is bad or you are commuting from a long distance.

[jav1107ecu]

That's excellent information to know. I didn't know about the train.

Yes, I work from home when I'm not in the air and currently manage the entire US sales for a different unit of the company, so I will be happy to 'downsize' my territory. The good weather good people comment was a nod to the folks here on the forum I've lived all up and down the east coast and several countries - everything has its positives and negatives.

So let's get down to brass tacks. Someone mentioned Craigslist, which I had not looked at - I was running filters up and down the coast. Here:

https://sandiego.craigslist.org/csd/...550161517.html

is a place I just found in (Tri City?) neighborhood. No idea what that area is like - it's 2 minutes from a Costco, 10 minutes from a Walmart, and 15 minutes from Carlsbad Village (or the beach). It's a 3br 2ba for $1500, looks relatively decent for only having one picture.

Is this legit? Is this the type of place that we could squeeze into for a year while we pad that down payment account?

This is some of the the type of info I'm looking for as my eyes get opened.

I know a 4br west of I-5 will cost me $4k+. I'm really trying to figure out if I can bring that figure down far enough to save $50-75k in 12 months and not live in an undesirable area.