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Old 03-22-2018, 09:08 PM
 
101 posts, read 175,334 times
Reputation: 38

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Hi all!

My partner just got a job offer in San Mateo CA for a salary of 160K. Eventually I will get a job but not sure when exactly because our son is still pretty young. We really could use some help from anyone living in the area -- is this a "workable" salary?! We have two children (3 y 9m and 1), and would need at least 3 bedrooms for us to keep our sanity.

It is very overwhelming to make this decision on a tight deadline, has anyone been in this situation and made it work?

What are some family friendly affordable neighborhoods close to downtown San Mateo? We are thinking it is better to live there than commute from another area.

PS: We are moving from the east coast and really have no idea what we are getting into. But we really love what we are seeing about San Mateo and the Bay area...
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Old 03-22-2018, 09:13 PM
 
Location: Silicon Valley
18,813 posts, read 32,487,749 times
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First, congratulations on the job. That's a nice salary. My daughter (no kids) was able to buy with a salary of around $112K. Kids are expensive for sure, but if she can do it, I don't see why you couldn't.

You're right that living closer to work is better. And, since you don't have kids in school yet, you don't have to worry about living in a great school district.

I don't know San Mateo, so will let someone else give you advice on that area. I've just heard nice things about the downtown area, but haven't ever been there myself. I live in San Jose, grew up in the east bay (Oakland, Castro Valley, Hayward, Fremont, etc.), have visited lots of other areas, but just not San Mateo. But, it doesn't have a bad reputation, I can tell you that.

And in case you don't know about it, you can get FHA financing for a first time home (which doesn't necessarily have to be the first home you've ever purchased - so check out the rules), with as little as 3.5% down, and they can wrap your costs into the mortgage.

https://www.hud.gov/buying/loans

I like redfin.com for searching for homes to buy.
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Old 03-22-2018, 09:30 PM
 
4,315 posts, read 6,279,681 times
Reputation: 6116
I work nearby and think it would be very tough to live in or near San Mateo. I think you're easily looking at $5-7k/month for rent for a 3 bedroom house in a decent area nearby. Add on top of that $3-4k in monthly daycare costs for two kids (depending upon whether you do a private daycare vs a center). You could probably save on that while you are staying at home, if you so choose.

So, I think its going to be very challenging for you to live nearby. You could look at the East Bay, which will save you on cost (and daycare tends to be slightly cheaper as well), but will significantly add to your commute. We make it work from the tri-valley, but my wife works much closer to home and she generally does the drop-off/pick-up duty for the kids to and from daycare.
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Old 03-22-2018, 09:30 PM
 
101 posts, read 175,334 times
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School district is important because my son turns 4 in August and could qualify for preschool through the district. Also I will probably end up staying at home and watching our younger son.
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Old 03-23-2018, 01:17 AM
 
12 posts, read 21,988 times
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Hi, we moved to Belmont 6 months ago with a 3.5 and 1 year old. We are on $140k paying $3850 in rent for a 3 bedroom house, I think we got a bit lucky at that price point but the house needs a little bit of work. It's doable but I would say money is tight, we can't save anything. Our landlord is going to sell so our lease will end, we are looking at buying in the East bay (castro valley perhaps as it has good schools) with an FHA loan since we can't afford peninsula prices! The peninsula is so lovely though and San Mateo is nice although I've only really been around the downtown. I'm sure you can make it work. We do a co-op preschool as I am at home still, it's $230/month plus $150 to look after my 1 year old when I have my co-op day. Belmont/Redwood Shores is a great school district. The cities run their own preschools (not sure of quality but the price is good!). Transfiguration preschool in San Mateo seems to have a nice facility with a decent price, it was my second choice good luck!
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Old 03-23-2018, 01:54 AM
 
10,920 posts, read 6,907,136 times
Reputation: 4942
Quote:
Originally Posted by melgirl30 View Post
Hi all!

My partner just got a job offer in San Mateo CA for a salary of 160K. Eventually I will get a job but not sure when exactly because our son is still pretty young. We really could use some help from anyone living in the area -- is this a "workable" salary?! We have two children (3 y 9m and 1), and would need at least 3 bedrooms for us to keep our sanity.

It is very overwhelming to make this decision on a tight deadline, has anyone been in this situation and made it work?

What are some family friendly affordable neighborhoods close to downtown San Mateo? We are thinking it is better to live there than commute from another area.

PS: We are moving from the east coast and really have no idea what we are getting into. But we really love what we are seeing about San Mateo and the Bay area...
Can verify that San Mateo is an awesome place to live. Have been here for ~8 years (more or less - had a stint in the City of SF itself). I live in downtown, just west of El Camino Real. A few hundred feet from me is the border of Hillsborough - a fairly exclusive town in the Bay Area.


Obviously, the challenge here is affording the area. I rent. and I'm content to do so. I'm also lucky in that my rent has been stable (renting in a family-owned building helps tremendously here), not raising very much since I moved in. If I were to move here now and try to afford the asinine rents that many complexes offer...I'd likely look elsewhere. Or seriously reconsider where I'm living...


That said, your partner's salary will be quite a bit higher than mine. And if you are also working, you will be bringing in a you will have options. At least in the rental market. Be prepared to pay for the convenience of living in the area. It can certainly be worth it - but you should be aware of what you're getting yourself into.

My personal opinion is that it is much easier to live on the peninsula if the job will be in the mid-peninsula region (i.e. San Mateo). Public transit access from the East Bay (on the other side of 92) is pretty lacking...and your partner will likely drive to work (which can be a pretty crummy commute).



And last point: I would be VERY open minded about not having a 3br house. They're hard to even find for rent. And when you do find them...expect to pay. A lot. If you would be open to a really large 2br (something like this) or a 3br apartment (not house), you would have a lot more options (and would save a fair amount on rent).


Good tool for mapping rentals: https://www.padmapper.com/apartments/

Last edited by HockeyMac18; 03-23-2018 at 02:04 AM..
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Old 03-23-2018, 08:31 AM
 
101 posts, read 175,334 times
Reputation: 38
Thank you so much to everyone for the advice, this is really great!
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Old 03-23-2018, 05:05 PM
 
Location: San Francisco, CA
1,386 posts, read 1,496,920 times
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San Mateo is the most livable community on the Peninsula in my opinion. A buddy of mine just took a job in Redwood City, with occasional office visits to San Francisco, and plans to relocate to San Mateo from the East Bay. It's the best situated and most cosmopolitan city of the many options between San Francisco and Palo Alto, and the commute (from Oakland in his case) sucks. However, the commute to San Mateo could be tolerable from an East Bay town like Castro Valley (good for families, more desirable than Hayward) if your husband plans to work off hours, such as 6-3 or 10-7. I once considered a job in San Carlos but opted out because it did not pay enough (~$110K) to justify the high housing costs nearby or alternatively the bad commute from Berkeley.

At $165K, do not expect to rent a 3-bedroom house. Houses are difficult to come by, and they could go for at least $5K/month. A 3-bedroom apartment, on the other hand, can be had for $3,500. In both cases, nicer is usually more expensive.

If you are lucky, you might be able to find something to suit your budget and desires. For example, these Craigslist ads for houses may or may not be legitimate:
https://sfbay.craigslist.org/pen/apa...536597540.html
https://sfbay.craigslist.org/pen/apa...529213947.html
https://sfbay.craigslist.org/pen/apa...524336622.html
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Old 03-25-2018, 12:14 AM
 
4,315 posts, read 6,279,681 times
Reputation: 6116
Quote:
Originally Posted by davdaven View Post
If you are lucky, you might be able to find something to suit your budget and desires. For example, these Craigslist ads for houses may or may not be legitimate:
https://sfbay.craigslist.org/pen/apa...536597540.html
https://sfbay.craigslist.org/pen/apa...529213947.html
https://sfbay.craigslist.org/pen/apa...524336622.html
None of those places are in the nicer part of San Mateo. One is close to downtown, but the neighborhood quickly goes downhill when you cross the train tracks. Its not "East Oakland Bad" but it can still be a little bit on the sketchy side. Also, school quality varies wildly, depending upon the side of El Camino you're on (I know the OP's kids aren't yet of that age).

Personally, I'd rather brave a long commute than to live in on of those places, but to each their own.
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Old 03-26-2018, 03:05 PM
 
10,920 posts, read 6,907,136 times
Reputation: 4942
Quote:
Originally Posted by roadwarrior101 View Post
None of those places are in the nicer part of San Mateo. One is close to downtown, but the neighborhood quickly goes downhill when you cross the train tracks. Its not "East Oakland Bad" but it can still be a little bit on the sketchy side. Also, school quality varies wildly, depending upon the side of El Camino you're on (I know the OP's kids aren't yet of that age).

Personally, I'd rather brave a long commute than to live in on of those places, but to each their own.
Those areas are much better than they were only a few years ago. They're certainly not the best in the region, but they're pretty livable.

Everyone has to decide what factors are most important to them, but a long commute can be soul crushing.

I'd take a house in pretty much any part of San Mateo over an East Bay commute - especially if you keep in mind that the parts immediate the SM bridge in the East Bay aren't any better (and are possibly worse)... Making the commute to a "nice" part of the East Bay even more asinine (since you have few options other than driving yourself between the East Bay and the midpeninsula).

YMMV, of course - but only the OP can decide what's most important. But people generally underestimate the downsides of long commutes (often justifying things by thinking "it won't be that bad")... I'd encourage the OP to really keep that in mind.
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