Seeking advice on possible relocation: CT ---> CA (Huntington Beach: foreclosures, lease)

[Capital Guy]

Hi everyone. My fiancee and I are considering a cross country move to California. We have both been living in CT and working in the Stamford/Westport area since last summer. We're young professionals with a combined income higher than most people our age (20s) but are finding that in order to afford a house, we have to live 45 or more miles from work. Along the strip here, that could easily take 2 or 3 hours in rush hour. So while CT is great, it's really tough.

So now we're looking at other options. My company (a CT based hedge fund) has a small satellite office in Newport Beach and there are openings for transfers from the Greenwich office. I know Newport Beach is just as expensive but I am seeing some relatively affordable condos in Rancho Santa Margarita in the 180k to 220k range. Theyre small but seem decent. How is this area and how is the commute to Newport Beach? Can anyone suggest other areas I look into?

Lastly, I'm looking for other experiences with living in Orange County, particularly those who moved from out of state. We're not so concerned with fitting in because we can assimilate pretty well and roll with the punches, but are more concerned with quality of life with a HH income of about $125k. From what I've been told, other than weather, life shouldn't be too different from coastal Connecticut, so I'm not too worried about the culture/stereotypes of people.

Thoughts? Suggestions? Criticisms? Lol, thanks.

Casey

[bhcompy]

Commute is doable.. You can use the toll road system to make it faster. I'm unsure of the exact time, though. Aliso Viejo would be a faster commute and probably nearly as affordable. Maybe older places in Lake Forest, too?

[DinsdalePirahna]

Im a native NYer. Transition and making new friends was very easy. (OC is essentially Long Island without Guidos and winter). Live closer in one of the beach communities. (while RSM and most of south OC is very nice, it is also very sterile) Seal Beach, Costa Mesa, Huntington Beach are relatively affordable communities with 1/2 hour commute time to Newport Beach.

[Capital Guy]

Thanks.

I don't know a lot about Long Island so can't use it for comparison purposes.

Did some research and I'm finding pretty nice condos in Huntington for the 200k range. Anything wrong with the area? Is it safe or are there areas to avoid?

There are a LOT of foreclosures!

[DinsdalePirahna]

I live in Huntington Beach. Yes there are some dicey areas (generally the area between beach, gothard, Edinger and Slater). A good rule of thumb is to stay no more that 2 miles off of PCH.

I have a condo about 1 mile off the beach in Huntington Harbor. Nice safe area. Be careful with those condos under 200K. They are on leased land.

[kidyankee764]

Just FYI, if you're leaving Connecticut in search of more affordable living, Orange County isn't it. Newport/Huntington/Seal/Laguna are all similar in price to the gold coast, and you'll have to live pretty far inland to find something in your 200k price range. Essentially, you're moving from one of the most expensive places in the country to another one of the most expensive places in the country. IMO, you're not doing yourself any favors.

[Coldjensens]

$125K a year for two people is doable, but it is on the low end for OC. It will be tight. OC is an expensive place in more ways than just housing. While you can certainly manage on $125 K, you are not going to be eating out a lot, buying new cars, staying in hotels, or taking expensive vacations.

200K is really cheap for anything in OC. I will be amazed if you can find anything decent for that price. Look at it carefully and take the time to get to know the area before you buy anything. It will be very hard to sell it if you make a mistake. Do not let a Realtor push you into making a rapid decision. There are plenty of places on the market right now and things sell very slowly. Coming from out of state, it would be easy for you to make a mistake.

Do not believe anything a realtor tells you. Get it in writing and confirm any factual statements that they make from other sources. Many (not all) realtors are desperate and will say anything to get a sale.

You might be better off renting for a while until you can afford more for a condo or home. It is unlikely that prices are going to go up mush in the near future (possible that they could fall even more). It does not hurt you to rent for a while and make absolutely certain that you are buying in the place where you want ot be for the next five or more years.

[SeaDoo342]

CapitalGuy, did you finally move? We are thinking of a similar move from Stamford/Greenwich to LA/SD because the house prices and taxes here are out of control. I know CA is similar but at least the weather is nice.

[cosby95]

I moved to OC it iS expensive and I have to move back to my home state because i'm going broke because of CA