Job potential re-lo in SJ. To move or not? (San Jose: rental, insurance)

[meameame12]

Hello experts, here is my situation:
40 y old, 4 kids, wife who works p/t. Live in NJ. We own a home, but have around 17k equity in it.

I have an opportunity to transfer to SJ and retain my same position w/in the same company.

I am uncertain whether to make this move. I very much dislike NJ for a lot of reasons.

a) My eldest child has bad asthma. Dr says its due to change of seasons, pollution, dust mites, tree species, etc. Asked about other locations for climate, and got a blank stare and the normal response: an allergic child is an allergic child--irrespective of where you live.

b) i hate the cold. 8 mths of the year, you freeze.

c) property taxes are ENORMOUS. my house, 450k, we pay over 13k annually. and no, i do not have 1/4 acre either.

d) auto insurance rates -- GEICO -- 2800 / yr, 3 cars, full coverage

There are other reasons, not all due to the cost of living, but they make up a chunk.

Here is the thing:

i have been to SJ several times, but am dis-swayed somewhat based on the traffic commute, and the house prices.

However....I have read recently that house prices have bottomed out in SJ or
near SJ.

I am not sure what that means, but so long as I can travel to SJ for work, no problem.


My range is not to exceed 600k. Ideally, I would like not to exceed 500k. Whatever it is, we will dish out 20% for the down payment.

Also....if we do this, it will be next summer. But planning would start now.

The real risk is no family out there, and 4 kids. Here in NJ we had a live-in nanny, who will not come with us.

Please let me know the cost of living in respect to house prices. Of course 4 kids translates ideally into a 5 bedroom house. I presume that cannot happen without an extension to an existing 4 or 3 bedroom house (based on the housing costs).

[StandingRoomOnly]

Can I ask where approximately you'll be working in San Jose? (off of what highway or exit) ...if you work in south San Jose, it will open you up to living in Morgan Hill, or if you work in north San Jose, living in Milpitas or a bit north.

Your property taxes will be quite a bit lower here than in NJ, but yes, you will need to lower your expectations for what kind of house you will get for your money.

And it is good you have 20% to put down but don't be in a rush to buy here unless you really want to settle here long term.

Weather here is amazing, as I'm sure you know. I love it.
Can't comment too much on the asthma/allergies...it's probably one of those things you'll just have to wait and see when you all move out here.
Your auto insurance sounds high, but I don't know your car/driving history... Smeone else may be able to comment. I can't imagine it to be any higher here anyway.

You should be fine if your family is set on moving out here...rents have increased a lot lately, but should be able to find a 4 or 5 bedroom for around 3000 a month in blossom valley, Santa Teresa, and some other areas of San Jose.

[jaypee]

If it were me, I wouldn't move out here w/o a COL adjustment. Also be aware that NJ public schools are wayyyy better than CA's.

[Wintermomma]

I also wouldn't move without greater pay. I don't know the COL of NJ, but judging by the cost of your house, unless you bought it a long time a go, it's a lot more here.

I would not think you can find a suitable house (meaning in decent shape, reasonable size for family of 6, in a safe neighborhood with good schools) in your price range unless your family likes to be really cozy or live in the edge. Sorry.

[MediocreButArrogant]

Your property taxes will be lower, at least on a percentage basis, but that will be offset by the higher income taxes out here. On a $700k home (probably the entry point for five bedrooms in a decent area, but not one with the best schools) you'll be paying about $4500 less per year in property tax, but your marginal state income tax rate will be 9.3% on most of your salary (everything over $96k for married filers).

[oldtrader]

To get a good idea, of the difference in cost of living try using the calculator at:


Relocation Essentials

This will give you a quick idea of the difference in cost of living, and give you an idea of difference in home prices especially.

[meameame12]

Hi, in san jose, the company is located south of milpitas.
the cost of living adjustment indicates a loss of 16k or so (approx) to maintain current standard of living. not too bad. not the greatest, but not terrible.

[StandingRoomOnly]

How high can you comfortably go for a rental per month?

[meameame12]

rental, per mth, no more than 2500. i hate the idea of renting, to be honest.

[5thgenSF]

i lived near South Milpitas in Berryessa (San Jose) for eight and a half years. left in 2001. plenty of good housing in that area.

SF bay area apts/housing for rent classifieds - craigslist