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Old 02-16-2020, 11:17 PM
 
301 posts, read 72,863 times
Reputation: 674

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Quote:
Originally Posted by mixxalot View Post
Bring wheel barrows of cash and expect to compete against multiple offers!
good point. I make six figures and have nobody else to support and it's coming down to a decision of buying. I'm not a fan of pinching pennies. I will not be able to do the things I do with a giant mortgage. Although it would be nice to have my own property.
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Old 02-20-2020, 06:57 PM
 
921 posts, read 917,321 times
Reputation: 438
Same here- single guy no kids no debt. Have the down payment. Currently live 2 miles to work. Easy bike, scooter 10 minute commute. For me to buy, I'd have to put 100k down, pay 2500/month mortgage and spend 45 minute commute by car, light rail or bus each way as downtown, east sacramento, midtown way too expensive to buy and nothing move in ready for under 500k here. My rent is high $1350 but still less than a home.
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Old 02-21-2020, 10:09 PM
 
301 posts, read 72,863 times
Reputation: 674
Quote:
Originally Posted by mixxalot View Post
Same here- single guy no kids no debt. Have the down payment. Currently live 2 miles to work. Easy bike, scooter 10 minute commute. For me to buy, I'd have to put 100k down, pay 2500/month mortgage and spend 45 minute commute by car, light rail or bus each way as downtown, east sacramento, midtown way too expensive to buy and nothing move in ready for under 500k here. My rent is high $1350 but still less than a home.
wow, $1350 is not bad for downtown. you must live in a hole in the wall. lol. Downtown Sac is so expensive, you can't really find even a healthful lunch for less than ten bucks.
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Old 02-24-2020, 12:19 AM
 
Location: Orange County, CA
240 posts, read 344,988 times
Reputation: 236
The cost of living increase is worth it. There’s a reason a Cadillac costs more than a Chevy. Weather will be a massive upgrade. It’s mid 70’s here this week. Don’t believe the naysayers. Their brains have been rotted by consuming too much cable news. 9% income tax isn’t correct either. California has a progressive tax rate so your effective tax rate will be lower. We also have lower property tax than a lot of places.

I’d recommend Rocklin. It’s probably the nicest suburb around. You could get something there for less than 500K but prices are going up. It’s also a good investment as prices will rise over time. The schools are fantastic.

Overall California is a fantastic place to live. Don’t believe the Fox News anti-California propaganda. The only negatives here are thankfully following their own advice and moving out :-)
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Old 02-24-2020, 02:04 PM
 
Location: Shoreline, WA
388 posts, read 296,153 times
Reputation: 335
[quote=mxcolin;57408938]The cost of living increase is worth it. There’s a reason a Cadillac costs more than a Chevy. Weather will be a massive upgrade. It’s mid 70’s here this week. Don’t believe the naysayers. Their brains have been rotted by consuming too much cable news. 9% income tax isn’t correct either. California has a progressive tax rate so your effective tax rate will be lower. We also have lower property tax than a lot of places. [quote]


Actually the effective tax rate on a $160k AGI in California is roughly 9.3% in State taxes.


The property taxes are lower, but the values of the houses are high so you may not get much of a discount.
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Old 02-24-2020, 02:30 PM
 
Location: Orange County, CA
240 posts, read 344,988 times
Reputation: 236
5.7% married filing jointly.
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Old 02-24-2020, 04:23 PM
 
Location: Shoreline, WA
388 posts, read 296,153 times
Reputation: 335
Quote:
Originally Posted by mxcolin View Post
5.7% married filing jointly.

I apologize. Effective tax rate is 5.7% MFJ and marginal rate is 9.3%.


On a $160k AGI income you'll pay approximately $9,000 in State income taxes in CA.


I, personally, don't think the State is worth it. That being said, if I had to move back, the Sacramento metro or Gold Country would be the best bets in the State. The people of Sacramento seem more level headed and friendly as compared to the Bay Area.
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Old 04-17-2020, 11:22 PM
 
Location: California USA
1,291 posts, read 744,016 times
Reputation: 376
Quote:
Originally Posted by OneKC View Post
We have three kids and have begun eyeing the West Coast as a more suitable place to live. We think Sacramento would be a good transition as it is more affordable than SoCal or the Bay, and is about the same size as the city we'd be leaving - Kansas City - plus being in the state capitol would be good for my career if I ever wanted to change jobs.

We think California would be better for us because we have grown sick and tired of Midwestern winters. We would also like to take advantage of the outdoors - forests for hiking, and I personally would love to just drive 2 hours to Lake Tahoe rather than 12 hours to Colorado to ski. I know the cost of living is much higher, but we both work and we feel it would be worth it. I work from home so I could keep my job, and my wife is in health care and could probably get a job pretty easily (probably with a pay bump according to the salaries we have seen online).

My questions are:
1. What neighborhoods would you recommend for families? We would send our kids to public school. Our total household income is around $160k/year.
2. Will we get sticker shock on cost of living? I know taxes are higher, but what about goods in general?
3. Our oldest does get allergies and I understand Sacramento is pretty bad about that. How bad is it?
4. We mentioned we were considering moving and the oldest kid (11) was pretty against it. Any advice on helping kids transition with a move? We feel this may be the ideal time as he begins middle school next year and the other two are still pretty young.
5. Anything in particular we should know about Sacramento?

Thanks for your help! Maybe we'll be neighbors someday?
California has a progressive income tax. The more you make the more you pay. It's higher than other states but it's generally the wealthy who bear the brunt of state income tax.

Gas is more. Utilities (particularly if you have solar) shouldn't be too much. Food, clothing, shoes, etc same as other areas only difference is sales tax is likely more. Home owners insurance isn't that expensive. One caution about that. At risk areas for wild fires will be hard to insure and expensive. If you have a clean driving record auto insurance shouldn't be too bad. DMV registration is pricey. Property tax is about 1%.

The sticker shock will be housing.
A good rule of thumb is take your gross annual income and multiply by 3 to get the house you can afford.
That would be about 480K.
For a family of five you'd probably want a house you wont feel cramped in (2000 square feet?).
Most people will recommend suburbs like Roseville, Folsom, El Dorado Hills, Rocklin
Housing in Folsom or El Dorado Hills for a decent sized house will start at over 500K

There are other areas that offer more house for the money and access to good public schools but are part of cities or towns which are neighborhood specific. A mix of neighborhoods with low crime and good schools and neighborhoods that aren't. These are Fair Oaks, Orangevale, Rancho Cordova, Elk Grove.

Rocklin will be your best bet. Overall the higher performing public schools in the region. Your house will be on the small size but you can find housing even new construction for less than 500K. Roseville will be a good area to consider.

Allergies are terrible. No way to get around it but use meds to control

Our oldest was also against moving but we found out that access to a pool was key.

Hope this helps.
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Old 04-17-2020, 11:39 PM
 
Location: State of Transition
84,428 posts, read 77,596,360 times
Reputation: 85584
No one's come out and said this, so I will; be sure you choose a community that's on Sacramento Municipal Utility District (SMUD) for your electrical. PG & E charges a lot more, and it shuts off electrical service when there's a high risk of forest fires. You don't want to be in or around Sac in the summers or early fall with no A/C or working fridge or whatever other appliances you find essential, because of a fire risk somewhere along the transmission lines. You can also save a good chunk of change by being on a public utility for your electrical service, rather than a private one.
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Old 04-17-2020, 11:41 PM
 
Location: Living rent free in your head
35,151 posts, read 16,237,227 times
Reputation: 25736
Quote:
Originally Posted by Ruth4Truth View Post
No one's come out and said this, so I will; be sure you choose a community that's on Sacramento Municipal Utility District (SMUD) for your electrical. PG & E charges a lot more, and it shuts off electrical service when there's a high risk of forest fires. You don't want to be in or around Sac in the summers or early fall with no A/C or working fridge or whatever other appliances you find essential, because of a fire risk somewhere along the transmission lines.
Good point!
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