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Old 08-28-2006, 08:57 AM
 
17 posts, read 92,721 times
Reputation: 22

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I am looking into a position in the bay area, I'm in So Cal and always hear, Yes there's more money there but housing is crazy, position lokcation areas are SF, Palo Alto and San Jose are there commutable (not 5mph) 30 minute commute, communities where a young couple with dogs can afford to buy?, Looking in the 300g range no plans for kids.
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Old 08-28-2006, 09:07 AM
 
38 posts, read 268,163 times
Reputation: 24
In all honesty, 300G won't get you much in the Bay Area. You might find a two bedroom townhome somewhere, but not in SF or the peninsula. Silicon Valley is the same. You may be able to find something in south San Jose, but the commute is bad anywhere in the Bay Area. Unless you work in the same town you live in, you're going to have a commute.

For example, I live 70 miles north of SF and commute. Houses in my area are easily 550G+ for a starter home.
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Old 09-19-2006, 12:30 AM
 
3 posts, read 34,218 times
Reputation: 11
Petenadi, it is not an option. You'll find nothing at all within that range, no matter how hard you look. Save your time and if you have to move here, plan to rent - although that will still be extremely expensive.
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Old 09-21-2006, 07:46 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 10,201,412 times
Reputation: 924
I searched realtor for you and $300k is the bottom price. That will get you a studio or tiny 1 bedroom of about 600 square feet. The cost in SF is about $500 a square foot but nice dwellings can be $700-1000+ a square foot! Manhattan NY is even more expensive, prices typically are $700-1000 a square foot and nice dwellings can be $1500-2500+ The median cost is just over $1k a square foot from what I heard!

Hope this helps. Is the costs worth SF to you? Do you and your girlfriend make a dual income enough to afford SF?
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Old 10-03-2006, 12:01 AM
 
Location: Alameda, CA
34 posts, read 268,175 times
Reputation: 32
For 320K you can buy a condo at the beautiful bay side city of Richmond....

removed

Last edited by Marka; 10-03-2006 at 04:34 AM..
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Old 04-12-2007, 11:11 AM
 
10 posts, read 54,546 times
Reputation: 10
Petenati, you can get a studio in Fremont or a 1BR condo in Union City, Hayward and San Jose. The downside is those are harder for sell for you in the future. On the positive side, it's good for your investment and tax shelter. You dont have too many choices for your budget. Im in real estate business that's why I'm familiar with this. I would suggest for you to rent for a while and feel the environment before settling in. Let me know if I can help..good luck!
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Old 04-12-2007, 11:40 AM
 
2,062 posts, read 3,494,213 times
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You can easily do some cold math and search for an online : "rent versus own" calculator. At this moment in time, renting is over 50% cheaper than owning. Plus, what you can rent will typically be nicer than what you could buy.The comments pertaining to condos and lofts are correct: these units will likely fall more in value than a house, and so far have been doing so.

If you choose to live in the east Bay, you can pay as much as 1/4th the cost to rent over buying in SF. But your priorities might be different, so do some research and check out craigslist and the local MLS.
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Old 04-12-2007, 01:48 PM
 
2,062 posts, read 3,494,213 times
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To add to this, I did want to mention that SF does have some special programs for certain groups: artists, lower income, etc etc. All new construction developments are required to have somethng like 10-20% of the new construction to be "below market", which means instead of paying the full price demanded by the majority, you pay less. Since many lofts have gone upwards of 6-600k, the below market rate now hovers around 4-450k. What you will get for that amount will be a single room, smaller sized loft.

There are also stipulations. For one, the appreciation is not allowed to be more than a certain percent per year, usually anywhere from 4-6% max. If the market goes down in value, then the same rules do not apply and you will have to bear the market's direction downward. So if the neighbor's loft goes up 50% in a year and sells, the most you could ever sell for in a given year would be an additional 5% or so. You will also not be allowed to rent the unit. The government mandates that as a requirement for as long as 50 years. There are also so many people wanting in on these units that there is a lottery to draw names. lastly, almost all of these loft developments and condo complexes have HOA ( homeowners associations) fees. The system is democratic so if everyone in the building votes for a swimming pool and helipad, then you will have to pay the additional expense anyway.

Anyhow, there are ways to get into a loft cheaper, but you have to do some homework and research these carefully. good luck.
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