Considering moving San Diego to Pleasanton - how much do you need to earn (San Francisco: rentals)

[annaslatte]

My husband has a potential job prospect in Pleasanton, CA. We currently live in San Diego (home of my heart), but since I got transferred back from Europe to San Diego, he hasn't been able to find work in the biotech industry (which with the economy has tanked quite a bit in SD). We're faced with the following proposition: He accepts the offer in Pleasanton and we relocate, but we're not sure we can port my job up there. So basically worst case we'll go from one single salary to another single salary. We are also expecting twins and so will have a new family up there, so staying home is not the end of the world for me... except we're worried we may not be able to afford to live on a a single salary up there.

Basically we are wondering what salary he would need to make for us to survive up there. I currently make 100k in San Diego, and we've managed to survive okay on that, but I suspect he'll need to make a fair bit more for us to live up there.

Our lifestyle is quite simple, and before anyone says you need soooo much more money for kids, trust me, when you've spent almost your entire take home salary in one year on IVF and adoption fees (most of it paid off cash simply by scrimping a lot), the cost of raising kids is peanuts in comparison.

Here are our needs:

We would be looking at renting a 3 BR home. It doesn't have to be large as we're used to small places in Europe. I have a pathological aversion to carpet, so 60's "tract" houses are actually preferable to us to 2000's suburban tract houses. I hear they are more reasonable in price. Can you get well maintained, clean older homes with hardwood in reasonable areas? And if so, what would they go for?

I've lived in the North Park area of San Diego for anyone who knows it, as well as downtown Toronto, Belfast, and Cologne, so my idea of a scary neighborhood is a bit different from what I understand Dublin and Pleasanton residents might think. I would like to avoid really bad areas though, no drive by's and armed hold ups please.

We'd probably try to live in Pleasanton itself as it means no commute.

We probably won't buy, although we have a hefty downpayment which could lead to a lower mortgage + property tax rate per month than rent, as we don't foresee settling in the area for overly long. We may just use that downpayment to buy something in San Diego and rent it out until we eventually return.

For the same reason, good schools are unlikely to be a concern, and if that does come to pass, we'll reevaluate then.

We do want to have enough money after rent/housing costs to live comfortably, to travel back to Canada & France to see family, put something in college funds, and get a second small (diesel) car.

What are your thoughts on what my husband would need to make up there that would allow us to live comfortably?

[mayorhaggar]

Well what is he getting offered, any idea? $100k is probably doable.

There have been some topics here lately about people getting jobs in Dublin and Pleasanton, you can try searching for them and see what people said. The general advice is that in that area, Pleasanton is most expensive, then Dublin, then Livermore. Go on craigslist, see what 3br houses are renting for in those three towns, and try and budget it.

If you are looking for work yourself, keep in mind Dublin and Pleasanton have BART stations, so you could commute to work in downtown SF.

[ccm123]

Pleasanton is a great city and the rentals and homes are in great demand. In terms SFR home rentals, you are looking probably at 3K per month and up for a 3 bedroom home. There are really no bad parts of Pleasanton, so no worries there.

[dmode]

To maintain the same quality of life that you have with 100K in SD, I would say your husband needs an offer around 150 -200K. Houses in Pleasanton are cheaper by Bay Area standards, but they are still expensive. You can always live in Livermore and drive to Pleasanton as Livermore has cheaper options. You may be able to buy into Livermore in around ~500K for a 3br home.

[clongirl]

Originally Posted by dmode

To maintain the same quality of life that you have with 100K in SD, I would say your husband needs an offer around 150 -200K. Houses in Pleasanton are cheaper by Bay Area standards, but they are still expensive. You can always live in Livermore and drive to Pleasanton as Livermore has cheaper options. You may be able to buy into Livermore in around ~500K for a 3br home.

No. They certainly don't need to make this much. As ccm123 mentioned, a 3bd house will rent out for around 3k a month. I've lived in Pleasanton and my family of 6 fared fine on much less income with a 3100k rent and one child in preschool. They'd be fine making 90-100k. It gets pricier as children get much older and want extracurricular activities/lessons etc.( or you have a teenage boy that likes to eat everything in sight!). Main cost of babies are diapers and the initial basics like cribs,highchair, etc.

It is, however very hard to find rentals in the area for some reason so you may want to expand your search into the neighboring cities like Dublin, San Ramon, Livermore, etc. The commute from San Ramon or Dublin is minimal as they sorta blend into each other. The whole region is very safe so you won't need to worry about major crime.

[peninsular]

If you take as much of an apples-to-apples comparison as possible, I'd say 100K in SD will buy about as much as 140K in Pleasanton. The kids situation, in my opinion, entirely changes the equation. All I can say, it's going to be a big adjustment. Good luck!

[ccm123]

From what I have observed (visited San Diego and La Jolla a lot in my life), the housing prices are significantly higher in the Bay Area, the restaurant bills (if you dine out a lot) are also higher. Other costs (utilities, groceries and insurance) are pretty comparable between SD and the Bay Area, within about a 5-10% variation.

[bendiesel]

Originally Posted by ccm123

From what I have observed (visited San Diego and La Jolla a lot in my life), the housing prices are significantly higher in the Bay Area, the restaurant bills (if you dine out a lot) are also higher. Other costs (utilities, groceries and insurance) are pretty comparable between SD and the Bay Area, within about a 5-10% variation.

Concur! Cost more in the Bay for everything!

[tstieber]

I live part-time in San Diego, and part-time in the Bay Area, and I'd say going specifically from North Park to Pleasanton, and not taking into account the even higher cost of living in San Francisco or the Peninsula, you'll find the following:

-Nowhere in the Pleasanton/Dublin/San Ramon/Livermore area will feel like North Park. North Park is more like Berkeley/Oakland, and the suburban housing stock you'll find in your new home will feel more like suburban Orange County or perhaps Escondido. And those houses will still be more expensive
-Cost of groceriees, gas, and utilities should be about the same, given that North Park is one of the more expensive, urbanized parts of SD while Pleasanton is one of the not-as-expensive parts of the Bay Area. Dining out should also be comparable (SD is really pretty expensive IMO), but you won't find much beyond chain restaurants or very average independents. Guy Fieri's restaurant in Dublin really packs em in for the usual pizzas, chicken salads, blah blah blah.
-You would definitely have the best value in Livermore, but check out the neighborhoods because it's a mixed area with some nice and some not-so-nice areas. Livermore also gets baking hot in the summer -- often the hottest city in the entire Bay Area -- and you may prefer a few degrees cooler in Dublin or San Ramon, which get an afternoon breeze.
-If you like 60s tract homes and don't mind a VERY short commute, then also consider Castro Valley, a little bit west of Pleasanton, and closer to the bay, which is an older bedroom community with tons of that housing. It's nothing spectacular, but prices will be better, and it's a safe area. And IMO, in a very pretty valley surrounded by nice hills, and a great climate that's pretty close to SD's.

[Larry Siegel]

North Park to Pleasanton is not exactly an apples-to-apples comparison. North Park is a little funky and kind of a bargain, with artists, home restorers, people who fix their own cars, etc. Pleasanton is more solidly middle- to upper-middle class and if you can't afford certain things (putting your kids on soccer teams, music lessons, etc.) you might feel that you're not fitting in. The one thing that is similar is the climate, and the Tri-Valley scenery is gorgeous. If $100K works in North Park I'd suggest $140-160K in Pleasanton.