Moving into OC from Dallas - Advice needed (Huntington Beach, Irvine: apartment complex, rental)

[ljlijash]

Hi all,

I have got a job offer and am thinking of moving into OC from Plano, Dallas which is where I am based out of now.

I basically need help from all the good people out here to help me in taking the decision. Here are the points which I am seeking you advice:

- First and obvious question - Cost of living - I currently earn around 69k annually here and stay in a 2 bed apartment with $1100 rental. I am being offered 105k + 12% annula bonus. Say, we dont even consider the bonus part - will I be able to survive with my family of 4 (wife, 2 kids and myself) ?

I typically live a normal life - pay my bills on time, once a week family outing.

- Schools - I have heard a lot of great stuffs about the schools here particularly in Irvine and MV. My older kid is 3 and half and goes to play school here - how are the costs for a half day coaching in a decent play school - my current hit is $520 for 3 hrs every day, 5 days a week.

- Taxes - There is no state tax here in texas, so what can I expect to be the total tax on my monthly pay - 30 % ?


Forgive me if I have asked a lot of questions, but its just because I want to make sure I am doing the right thing.

Thanks in advance.

[Electrician4you]

Originally Posted by ljlijash

Hi all,

I have got a job offer and am thinking of moving into OC from Plano, Dallas which is where I am based out of now.

I basically need help from all the good people out here to help me in taking the decision. Here are the points which I am seeking you advice:

- First and obvious question - Cost of living - I currently earn around 69k annually here and stay in a 2 bed apartment with $1100 rental. I am being offered 105k + 12% annula bonus. Say, we dont even consider the bonus part - will I be able to survive with my family of 4 (wife, 2 kids and myself) ?

Yes you'll be able to survive. Depending on what area you want to live your rent will vary. 1100 will be pretty hard to swing in Mission Viejo or Irvine. I'm assuming you're looking at a minimum 3 bed? If you're willing to stay in a 2 bed you can probably get done thing in the 1600-1800 range.

I typically live a normal life - pay my bills on time, once a week family outing.

That's great. There are a ton of family things to do. A lot of them are free

- Schools - I have heard a lot of great stuffs about the schools here particularly in Irvine and MV. My older kid is 3 and half and goes to play school here - how are the costs for a half day coaching in a decent play school - my current hit is $520 for 3 hrs every day, 5 days a week.

I have no idea of preschool/daycare costs. I can tell you that MV or Irvine schools are great as far as curriculum and teachers. But I don't know. Costs for private school or child care



- Taxes - There is no state tax here in texas, so what can I expect to be the total tax on my monthly pay - 30 % ?

Depending on what you claim on your W2 and your deductions your tax bracket may vary. You'll probably land in the 25-30 I'm guessing.
Forgive me if I have asked a lot of questions, but its just because I want to make sure I am doing the right thing.

Thanks in advance.

Bold is my opinion. What city are you working in and how far are you planning in driving. Is your wife going to work? How far are you willing to drive to work?
Rent costs are all over the place. Depending on the house size, interior and upgrades if any. For example my friend is renting a two bedroom in Huntington Beach for $1600. Her mom is renting a 2bedroom in HB also for about 1400. Crowded areas but its cheap rent.
Here is a Irvine 3 bed
http://orangecounty.craigslist.org/apa/4238528003.html

[ljlijash]

Thanks a lot for the reply.

My office location is in Lake Forest. I would like to stay some place close by to the office as wifey does not drive and hence would like to be a call away for anything urgent.

I know $1100 for a 2 bed would be a hard find, but I am ok to live in a 2 bed as well. My budget would be a max of $1800 - would that be too small for a decent neighborhood in MV or Irvine ?

I am giving myself a target of saving atleast $500 per month - am i dreaming ?

[JohnSoCal]

Originally Posted by ljlijash

Thanks a lot for the reply.

My office location is in Lake Forest. I would like to stay some place close by to the office as wifey does not drive and hence would like to be a call away for anything urgent.

I know $1100 for a 2 bed would be a hard find, but I am ok to live in a 2 bed as well. My budget would be a max of $1800 - would that be too small for a decent neighborhood in MV or Irvine ?

I am giving myself a target of saving atleast $500 per month - am i dreaming ?

You should have no problem being able to live OK. You will be earning $3,000 more per month which should give you a net increase of $2,000 /mo or so. That will more than offset the higher rents, etc. This doesn't include any bonuses or incentives.

[Electrician4you]

You'll be ok with 16-1800 in MV

[ljlijash]

Thanks for all the replies - looks like the offer might not be a bad deal at all. And my target of the $500 savings pm looking bright as well after going through all the replies.

"Google" gave a scare with the tax rates. With 105k annually, thats $8750 gross monthly. The tax calculator gave me a net of $5000, which was really looking tight with a house rent of $2000 + all the expenses a typical family would have !

[TidyAtac]

You did the exact same move as me. I moved from Dallas to OC 5 months ago!

My opinion is that you will still be making more money overall with that kind of a jump! 69K to 105K plus 12% bonus?! How did you make that kind of jump?

I went from 100K to 108K plus 8% annual bonus...So I actually took a hit considering the higher cost of iving.

You will be shocked on the high state tax in CA when Texas doesn't have a state income tax... In my opinion, its like at least 15K to 25K more expensive here...

So I would say you are still like 20K better off.. lol

[ExeterMedia]

$1,800 is good enough for a 2 bedroom in Irvine. It'll be about 1,000 sqft, and won't have all the amenities but you may not care about that.

If I were you, I'd rent from owner-investors, people who own condos in Irvine/Lake Forest/MV as rental properties. I feel you'll get a better deal than going with a property owned by "Irvine Company" or any other corporate owned apartment complex.

[thelopez2]

Originally Posted by ljlijash

Thanks for all the replies - looks like the offer might not be a bad deal at all. And my target of the $500 savings pm looking bright as well after going through all the replies.

"Google" gave a scare with the tax rates. With 105k annually, thats $8750 gross monthly. The tax calculator gave me a net of $5000, which was really looking tight with a house rent of $2000 + all the expenses a typical family would have !

Originally Posted by TidyAtac

You did the exact same move as me. I moved from Dallas to OC 5 months ago!

My opinion is that you will still be making more money overall with that kind of a jump! 69K to 105K plus 12% bonus?! How did you make that kind of jump?

I went from 100K to 108K plus 8% annual bonus...So I actually took a hit considering the higher cost of iving.

You will be shocked on the high state tax in CA when Texas doesn't have a state income tax... In my opinion, its like at least 15K to 25K more expensive here...

So I would say you are still like 20K better off.. lol

This is why do many people buy. With rents so high, people would rather take a $2500-3000 mortgage over a $1800 rent.

[BuckeyeAtHeart]

Not if $1800 fits their budget. There is a big difference between $1800 and $2500/$3000!