Commute to Cambridge. Which town can we afford? (Boston, Newton: renting, how much)

[Mamove2020]

We will be moving to the Boston area for a new job offer that I received. Commute is to Kendall square area. We would like to buy a home. We are coming from Silicon Valley

Mid 30s couple
~1 million in taxable accounts (stocks, bonds, cash, etc)
300k In combined 401k
Renting currently
1 kid (3 years old)

New job (sw engineering) is for 330k
Wife will get a job around 80k most likely

Household income = 410k

[gf2020]

You can afford any town.

The bigger question is what do you want in a house and other community amenities?

[yesmaybe]

Where would the wife likely work? That would play into it. I would say Weston, maybe Lexington if you want to brave Alewife.

[wolfgang239]

Do you want a single family? With land? Do you want to open your living room window and be staring at the woods or someone's dilapidated vinyl siding? How much do you want to spend? What amenities are important to you? Do you mind driving to the grocery store or do you want to play urban explorer on your bicycle?

[bugelrex]

Do you want to drive to work? If you insist on public transportation it limits your choices somewhat.

Since you can afford anywhere, your choice will be decided upon
Public schools
Brand new house or house with charm
If you insist on specific demographic ratios
Stem focused education or well rounded

[Mamove2020]

Originally Posted by bugelrex

Do you want to drive to work? If you insist on public transportation it limits your choices somewhat.

Since you can afford anywhere, your choice will be decided upon
Public schools
Brand new house or house with charm
If you insist on specific demographic ratios
Stem focused education or well rounded

I'm not so sure we can afford every town.

We were thinking to keep the housing budget at 1.2-1.3 max.

A large chunk of our income is in the form of RSU grants.

[bugelrex]

Originally Posted by Mamove2020

I'm not so sure we can afford every town.

We were thinking to keep the housing budget at 1.2-1.3 max.

A large chunk of our income is in the form of RSU grants.

What is the base salary and your housing expections? (new, old, size, lot size)

[yesmaybe]

Originally Posted by Mamove2020

I'm not so sure we can afford every town.

We were thinking to keep the housing budget at 1.2-1.3 max.

A large chunk of our income is in the form of RSU grants.

Ooh, that changes things, esp if it's one of those tech companies with crazy valuation. You might want to go way less but you can still do Weston if you stick to 1.2-1.3.

[Mamove2020]

Originally Posted by yesmaybe

Ooh, that changes things, esp if it's one of those tech companies with crazy valuation. You might want to go way less but you can still do Weston if you stick to 1.2-1.3.

Combined cash income is about 300k.

I’m not seeing much in newton to be honest. Seems like you have to go up to 1.5m to get anything nice.

Maybe we put 700 down and take out 800k mortgage?

[bugelrex]

Originally Posted by Mamove2020

Combined cash income is about 300k.

I’m not seeing much in newton to be honest. Seems like you have to go up to 1.5m to get anything nice.

Sounds like you are looking for a new(or newer) home with about 2500 sqft and an ok lot size AND good schools. Newton @ 1.5M would get you this. Natick might be a better "bang for the buck" if you drop the "gold plated" schools requirement.
BTW, in my opinion:

san Mateo(or maybe Cupertino for schools) = Newton
Cupertino = Lexington
palo alto = Brookline
nice area of san jose = Wellesley (larger lot sizes , but still close by)
Hillsborough = Weston
pacific heights = back bay