Returning US Citizen - Need Help! (San Francisco, Oakland: rent, how much, house)

[Colog]

This is my first post here and I hope you can help me.

I've been living abroad since I was 5 and now I'm really willing to return to the US.

I have a cousin that lives in Milbrae and I'm thinking that I could count on him for my return, at least for a brief period of time, since I don't want to be a hassle.

The main problem is that I have a family of 4 (my mother in law included ), of which I'm the only North-American and will be the only one to have a job in the beginning of my new life! After this, I think that other 1 or 2 members will be able to contribute with their income as well.

Anyway, my main doubts are:

- what should be my overall income considering I'm the only one working to sustain all 4 members;
- since Milbrae is very expensive where should I look at to buy a house - I would like to live the closest possible to my cousin;
- how much a 3 bed, 2 baths house would cost.

I know it will be a very big step to take, but this will be a dream come true and I thank you for all the input you can give me!!!

I wish you all keep safe,

Colog.

[capoeira]

Originally Posted by Colog

- what should be my overall income considering I'm the only one working to sustain all 4 members;
- since Milbrae is very expensive where should I look at to buy a house - I would like to live the closest possible to my cousin;
- how much a 3 bed, 2 baths house would cost.

The cheapest resale 3 Bedroom, 2 bath house in Millbrae on Trulia today was only $1,188,000. It was listed only four days ago and will probably sell in a week.

Example house in Millbrae

Using a conservative 3x annual income rule for a home purchase one would need to make $396,000 per year. If one uses the insane 5x income rule then one would only need to make $237,600 per year.

Unless you are coming with a huge amount of cash for a down payment I would suggest relocating almost anywhere but the Bay area.

[clongirl]

Originally Posted by Colog

This is my first post here and I hope you can help me.

I've been living abroad since I was 5 and now I'm really willing to return to the US.

I have a cousin that lives in Milbrae and I'm thinking that I could count on him for my return, at least for a brief period of time, since I don't want to be a hassle.

The main problem is that I have a family of 4 (my mother in law included ), of which I'm the only North-American and will be the only one to have a job in the beginning of my new life! After this, I think that other 1 or 2 members will be able to contribute with their income as well.

Anyway, my main doubts are:

- what should be my overall income considering I'm the only one working to sustain all 4 members;
- since Milbrae is very expensive where should I look at to buy a house - I would like to live the closest possible to my cousin;
- how much a 3 bed, 2 baths house would cost.

I know it will be a very big step to take, but this will be a dream come true and I thank you for all the input you can give me!!!

I wish you all keep safe,

Colog.

The only places that I could think of nearer to your cousin would be South San Francisco, San Bruno, or Brisbane. I just did a quick search of properties (to buy) and they are no less than 500k (those would be one bedrooms/ maybe two bedrooms. A three bedroom property in Brisbane are going for 700k! That's crazy!! Now those would be the least expensive towns!

Do you understand that this region is one of the most expensive places in the US to buy (or even rent) a house?

The only place that I can think of that MIGHT be less expensive is Hayward, San Leandro, Union City --and I may be wrong on that front. What kind of income do you think you'll be able to make? If this is something that you've been dreaming about, then you'll probably need to readjust your expectations a lot--one income, four people to support, can mean some really undesirable places to live.

[Colog]

Originally Posted by capoeira

Unless you are coming with a huge amount of cash for a down payment I would suggest relocating almost anywhere but the Bay area.

capoeira, thanks a lot for your quick reply. BTW, nice name. Does it have any kind of a meaning?

Could you give some suggestions of places where to look for a 3 bed, 2 bath house for about half the value you said?

[Colog]

Originally Posted by clongirl

The only places that I could think of nearer to your cousin would be South San Francisco, San Bruno, or Brisbane. I just did a quick search of properties (to buy) and they are no less than 500k (those would be one bedrooms/ maybe two bedrooms. A three bedroom property in Brisbane are going for 700k! That's crazy!! Now those would be the least expensive towns!

Do you understand that this region is one of the most expensive places in the US to buy (or even rent) a house?

The only place that I can think of that MIGHT be less expensive is Hayward, San Leandro, Union City --and I may be wrong on that front. What kind of income do you think you'll be able to make? If this is something that you've been dreaming about, then you'll probably need to readjust your expectations a lot--one income, four people to support, can mean some really undesirable places to live.

Thanks a lot for the input. I think we were writing together, LOL!

Hmmm... I plan a visit later on this year to check the possibilities, but I surely wouldn't like to get in SF without any clues of where I'm stepping into and your post surely helped a lot.

I know that I'm willing to live in one of the most expensive places in the US, but I also think that some support would help a lot in the beginning.

I actually work with international business. Would that be a good pay in SF?

Thanks for your reply.

[clongirl]

It's a long way from your cousin, but Concord is still relatively affordable (by Bay Area standards). You could rent a 3 bd 2 bath house for 2k or thereabouts. You didn't mention where your job is, but at least there's a BART line (public transport into the City/Oakland/ etc).

I honestly don't know about the international business part- not sure about careers or have any clue as to what kind of career/pay to expect, however.

[Colog]

Originally Posted by clongirl

It's a long way from your cousin, but Concord is still relatively affordable (by Bay Area standards). You could rent a 3 bd 2 bath house for 2k or thereabouts. You didn't mention where your job is, but at least there's a BART line (public transport into the City/Oakland/ etc).

I honestly don't know about the international business part- not sure about careers or have any clue as to what kind of career/pay to expect, however.

Thanks again... Concord seems to be nice.

I'll tell you a secret: I don't know either about the career and pay to expect for international business in San Francisco and surroundings, LOL! But I'll have to find it out quick once I'm in the area.

Thanks again!

[Colog]

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