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How much do you think a single guy in his 30s would need to live in SD and have a little margin for error? I have a good amount saved right now.
I'm in technology and make $70K+. Good enough? And what areas do you think I could target to live in? If I know, I can see if the jobs available would be close to those livable areas or if too much commuting would be necessary.
I don't know about renting vs. buying in SD. That's why I'm asking here. I looked at the COL calcs and now want feedback from those who actually live or lived in SD.
I travel a lot but cheaply. Dine out occasionally and not that extravagantly.
Debt free.
I have about $30K saved.
I live in Dallas, TX right now, which is much cheaper than SD housing-wise but is more expensive utilities-wise. I am tired of Dallas' weather but used my time here to build my career and finances. That's why now I'm exploring places to move to.
I don't know about renting vs. buying in SD. That's why I'm asking here. I looked at the COL calcs and now want feedback from those who actually live or lived in SD.
I travel a lot but cheaply. Dine out occasionally and not that extravagantly.
Debt free.
I have about $30K saved.
I live in Dallas, TX right now, which is much cheaper than SD housing-wise but is more expensive utilities-wise. I am tired of Dallas' weather but used my time here to build my career and finances. That's why now I'm exploring places to move to.
Here is my 2 cents which is what you paid for it.
I know Dallas very well as I lived there for about 9 years before. I still go there often as I have a lot of clients and friends there. You can definitely get by in San Diego on the same $70k salary as a single guy with no dependents, especially if you live a "simple lifestyle".
The cost of living in Dallas is much lower. Especially housing (unless you live in University or Highland Park). You can get a pretty great place in Dallas for a fraction of what you'd pay for a dumpy apartment in a good area of San Diego.
I am well aware how horrible the utility bills can get, especially in the summer there. Actually I believe that the actual utility rate for electricity and gas is higher here in San Diego however, the weather is so great you don't need AC too much. Heat either. So the net bill is much lower.
Where you will spend more is on fuel/gas for your car. It's much more expensive here in San Diego vs. Dallas. Also, obviously you know there is State income tax here vs. Dallas where there is 0% state income tax. Where you get NAILED in Dallas vs. San Diego is annual property taxes. But that sounds like a moot point if you're a renter and plan to be for a while.
Groceries I find cheaper in Dallas vs. San Diego but not by a big margin or anything too noticeable. Car insurance is actually cheaper in San Diego vs. Dallas I believe just due to the lack of bad weather so less accidents.
What part of town do you live in Dallas? Like the DFW area, San Diego is very spread out. When I lived there I had many friends and colleagues that lived in Plano, Las Colinas, Frisco, Richardson, Uptown, Lower Greenville, etc. Just spread out all over the place.
My last few visits, I've been amazed just how bad the traffic gets each year in Dallas. I don't care if it's the middle of the day. Most visits I find traffic just horrendous on 635, Tollway, 75. You name it! Just a huge time suck. Traffic isn't as bad in San Diego.
I'd say the idea to live closer to where you work is a good idea but also I think it's important to really like where you live. So it's not an automatic to simply live near your work. It all depends on you and what your likes/dislikes are.
While I personally don't think $30,000 is too much in savings for mid 30's, if you have a steady and stable job/salary that you plan to keep then you should be fine. I guess the big wild card is are you guaranteed a job here or can transfer with your company? Or can you work from home?
But definitely $70,000 in Dallas vs. $70,000 in San Diego are two totally different things if you plan to buy a house someday. But for a single guy with no obligations if you are guaranteed that salary, you should be perfectly fine.
Absolutely I totally understand your desire to leave Dallas. While I had a good time living there when I was younger, I knew that I'd not retire there or raise a family there. The weather as you mentioned is brutal, especially in the summer.
Dallas is just an ugly city for the most part. Just totally flat and the scenery is really dull. San Diego is gorgeous with so many great things to do, especially if you like the outdoors, hiking, ocean, etc. When I lived in Dallas, I did travel quite a bit. The good thing with American Airlines and Southwest being based there is there were always a ton of flights to just about anywhere for not too much money so I traveled quite a bit to go to more beautiful places.
I still travel quite a bit but don't really feel I need to "escape" from San Diego like Dallas because it's so darn beautiful here.
Sorry wrong thread. Thought this was the one guy from Alpine NJ, living in South Cackalacka that was getting a promotion as an investment banker and worked for Goldman Sachs. :/
If you rent and have very few expenses, it's possible in your situation. A little on the low side for much of town, but you could rent a reasonable place in the suburbs as long as you are careful and don't have the highest expectations. 1500-1800/month is pretty much a baseline for anything that isn't ultra sketchy, IMHO. You'll take home about 1700-1800 a pay check by my best estimates, after taxes, assuming you have insurance contributions, 401k, etc. I lost about 35% to taxes (roughly 10% of that is CA state income tax), and you'll pay ~8.75-10% in sales tax on any non-food items.
There are some very distinct hidden differences to also consider:
- In some areas you will have high electric bills for 7-9 months if you have A/C. Pretty much anywhere east of the 15...
- Gas is dramatically more expensive than anywhere else in the US except Los Angeles (and, perhaps, San Francisco). You will want (or need if you have a long commute) a fuel-efficient car.
- Fresh food is distinctly cheaper than most of the country. Sprouts (formerly Henry's, formerly Boney's), for example, carries exceptionally-inexpensive produce and decently-priced meat. The difference was shocking from other areas I have lived.
- Eating out is not as killer as it can be elsewhere. Cheap, decent, Mexican food can be obtained on nearly every other street corner. Though food isn't as good and varied as, say, Los Angeles or Orange County, it's still good.
- For a major city in California, you won't find anywhere with better traffic, especially if you can afford to live opposite traffic from your employer. This generally means west.
- The water in the ocean is really cold. If you're familiar with the Gulf of Mexico or east coast beaches and expect similar water temperatures, you're in for quite the shock.
Just be aware that your lifestyle will be nothing like it was there. The cost of living is much higher than most realize.
I just moved (well, I'm here in SD today and handing in my keys tomorrow) and my first paycheck after moving (partial paycheck, mind you), was as much as my take-home here, making the same amount and with rent that is just over half what it was here. Sales tax is lower there, no smog checks, no traffic, etc. This is a great place to live, but be sure your work situation is solid, because I was unable to stay when I noticed the handwriting on the wall and decided I needed to bail from my former employer here.
If you go for it, good luck! Feel free to ask me anything here or by PM.
If you rent and have very few expenses, it's possible in your situation. A little on the low side for much of town, but you could rent a reasonable place in the suburbs as long as you are careful and don't have the highest expectations. 1500-1800/month is pretty much a baseline for anything that isn't ultra sketchy, IMHO. You'll take home about 1700-1800 a pay check by my best estimates, after taxes, assuming you have insurance contributions, 401k, etc. I lost about 35% to taxes (roughly 10% of that is CA state income tax), and you'll pay ~8.75-10% in sales tax on any non-food items.
There are some very distinct hidden differences to also consider:
- In some areas you will have high electric bills for 7-9 months if you have A/C. Pretty much anywhere east of the 15...
- Gas is dramatically more expensive than anywhere else in the US except Los Angeles (and, perhaps, San Francisco). You will want (or need if you have a long commute) a fuel-efficient car.
- Fresh food is distinctly cheaper than most of the country. Sprouts (formerly Henry's, formerly Boney's), for example, carries exceptionally-inexpensive produce and decently-priced meat. The difference was shocking from other areas I have lived.
- Eating out is not as killer as it can be elsewhere. Cheap, decent, Mexican food can be obtained on nearly every other street corner. Though food isn't as good and varied as, say, Los Angeles or Orange County, it's still good.
- For a major city in California, you won't find anywhere with better traffic, especially if you can afford to live opposite traffic from your employer. This generally means west.
- The water in the ocean is really cold. If you're familiar with the Gulf of Mexico or east coast beaches and expect similar water temperatures, you're in for quite the shock.
Just be aware that your lifestyle will be nothing like it was there. The cost of living is much higher than most realize.
I just moved (well, I'm here in SD today and handing in my keys tomorrow) and my first paycheck after moving (partial paycheck, mind you), was as much as my take-home here, making the same amount and with rent that is just over half what it was here. Sales tax is lower there, no smog checks, no traffic, etc. This is a great place to live, but be sure your work situation is solid, because I was unable to stay when I noticed the handwriting on the wall and decided I needed to bail from my former employer here.
If you go for it, good luck! Feel free to ask me anything here or by PM.
This is a great post. Especially the bolded parts. I always emphasize on these cost of living posts to really make a detailed spreadsheet of ALL your monthly expenses. See what you come up with afterwards.
Although I didn't particularly like Dallas too much I had an amazing lifestyle there. I was making insane money (and the NO state income tax really helped to bank a lot of money) and I dined out often. I went out with my friends at least 4 or 5 times a week. No way when I was younger I could have had the same lifestyle here in San Diego.
Eric's point can't be emphasized enough to really take a look at your work situation. Make sure it's solid. There are many people that move to San Diego but move out fairly quickly because their job situation wasn't what they thought it would be. And many underestimate the higher COL with real estate/rentals or they don't take a good enough look at the difference to NET income after State and local income taxes.
About the only part I disagreed with Eric's post was when he said "no traffic". I wasn't sure if he was referring to Dallas. If so, he couldn't be more wrong. Traffic in Dallas has become incredibly bad over the past few years. Just horrible.
Sorry wrong thread. Thought this was the one guy from Alpine NJ, living in South Cackalacka that was getting a promotion as an investment banker and worked for Goldman Sachs. :/
Yup, it's how you live, and where. $70K should be just fine for a normal priced area of SD. Should do you just fine even in SD proper. Go rent a spot near Hillcrest and call it a day. Probably could afford rent near the beach as well. Not La Jolla living though lol.
This is a great post. Especially the bolded parts. I always emphasize on these cost of living posts to really make a detailed spreadsheet of ALL your monthly expenses. See what you come up with afterwards.
I totally agree, and planning financially cannot be emphasized enough. When you come from a low-tax, low-COL area, you can barely fathom the differential. I once turned a job down because they were a startup with no income in the Bay Area and I didn't believe it was reasonable for them to pay what I'd need to live there. SD is distinctly less, but is still either the second or third most expensive metro area in CA.
Quote:
Although I didn't particularly like Dallas too much I had an amazing lifestyle there. I was making insane money (and the NO state income tax really helped to bank a lot of money) and I dined out often. I went out with my friends at least 4 or 5 times a week. No way when I was younger I could have had the same lifestyle here in San Diego.
I moved back to CA from a lower-tax state and I can definitely relate to your experience with a change in lifestyle. The COL comparison tools really do not do the costs of living here justice.
Quote:
Eric's point can't be emphasized enough to really take a look at your work situation. Make sure it's solid. There are many people that move to San Diego but move out fairly quickly because their job situation wasn't what they thought it would be. And many underestimate the higher COL with real estate/rentals or they don't take a good enough look at the difference to NET income after State and local income taxes.
Personally, I came without expectations of staying as long as I did. The company simply looked solid and I had realized that staying in a locality was severely limiting my employment options. It ended up very solid for four years, marginal due to mismanagement for a little over one, then I knew to jump ship at my first opportunity when it started looking bad. I dodged a mass layoff by 3 weeks... For the 6 months leading up to it, I searched pretty hard in SD, but competition is very fierce and for some reason nobody wants to pay enough to live here, which is why I expanded my search area and landed a job in an area with a good economy with a solid and focused company...
Quote:
About the only part I disagreed with Eric's post was when he said "no traffic". I wasn't sure if he was referring to Dallas. If so, he couldn't be more wrong. Traffic in Dallas has become incredibly bad over the past few years. Just horrible.
I moved to another state with no income tax (WA) and made it a point to focus on areas with less population that were isolated from big cities. Where I ended up has essentially no traffic, but the nearest major city is a snarled mess that I'd never be willing to endure. My thought on SD traffic is pretty accurate, though. There is traffic here, don't get me wrong, but even the worst I've seen at the merge is nothing in comparison to average Los Angeles traffic in their 4-5 hour "rush hours".
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