Single and making 40k, will I survive? (San Francisco, Oakland: renting, insurance)

[Ultrarunner]

Maybe too simplistic...

Some people are producers and others are consumers.

Just as some repair/renovate and other use/deplete.

Gives me a lot of satisfaction giving new life to an old run down home.

One of my very senior friends posed the question... which makes more sense... to renovate one home 3 times over the years or to renovate 3 homes over the years.

I guess the simplest way to put it is I don't like waste... seen many perfectly usable kitchens gutted because the look was dated... thing is today's look will be dated too.

At the risk of boring some long time CD members I will relate a story I've told here before.

I bought a 1922 home in a little subdivision from the original owner... nothing had been renovated down to the high leg kitchen stove, yellow and blue tile, bath fixtures, etc..

My friend were itching to help me demo and start over... instead I took my time one room at a time and cleaned, repaired and refinished... cost almost nothing... when it came to sell, I got the highest price ever... the buyers said they had finally found an unmolested Craftsman Bungalow they were looking for...

As previously mentioned... I've never seen HGTV.

So yes... a single with the right attitude and aptitude could certainly make it on 40k a year...

[Ruth4Truth]

Originally Posted by Ultrarunner

One of my very senior friends posed the question... which makes more sense... to renovate one home 3 times over the years or to renovate 3 homes over the years.

I guess the simplest way to put it is I don't like waste... seen many perfectly usable kitchens gutted because the look was dated... thing is today's look will be dated too.

I don't understand this, either. Why throw out perfectly serviceable cabinets? What I've encountered, too, is that buyers will try to get the seller to lower to price simply on the basis that the kitchen needs updating. In other words, they want the seller to pay for the update job they want to do. Unless they're really ugly cabinets, that's not necessary. And a complete change is never necessary. In most cases, simply replacing the cabinet doors and repainting or refinishing is enough.

It's consumerism run amok, is what it is.

[04kL4nD]

Originally Posted by Ultrarunner

So yes... a single with the right attitude and aptitude could certainly make it on 40k a year...

Again, the OP really needs to think about why it's worth paying a minimum premium of 12k a year to live in SF proper. At a certain pay scale, it makes sense, but when you only allow yourself ~$500 wiggle room, I really start to question what makes SF worth it.

Nightlife? I mean yeah there's lots of bars in SF and more nightclubs, but there are bars everywhere in the Bay Area. Is this a daily requirement? If it is, are you OK with admitting you're paying 12k a year for it?

Food? Sorry, but there's great restaurants all over the Bay Area as well. You can eat well and reasonably cheaply pretty much anywhere these days, unless you're way out in suburbia.

Networking? Ok, depending on the industry, this one I can definitely see being "worth it". It's easier to forge connections when you're in SF proper, and you won't have to deal with the provincial snobs that will dismiss you whenever you reveal you live in the East Bay or down the Peninsula.

I remember when I first moved to the Bay Area and I was 21, I spent every weekend in the city and wished I could afford to live there. Now that I'm a lot older, I just could never do it. It's even less affordable than it used to be, and it just seems more geared to people with tons of money, or those who've been there for the long haul.

[Ruth4Truth]

Most of the time, the club entertainment is better in the East Bay. Food is the same in the East Bay as in SF, but a little cheaper because overhead is a little cheaper. The only main difference is it takes longer to get to the beach from the East Bay. And it's not the hardcore urban, noisy environment in the East Bay. And you can afford a better quality of life in the East Bay.

The choice is yours, OP.

[bmw335xi]

It comes down to what you want. One of my buddies from Florida has dreamt about living in San Francisco for awhile now, but his budget isn't the best (still doable though), but compared to his current lifestyle, it would take a big hit. I told him, why not just get an apartment in a nice part of Oakland or even Walnut Creek and he says those are still much more expensive than where he lives, so if he is going to move and make sacrifices, he would rather just make a bit more sacrifices to live in San Francisco to get his fix, so it's not something he will regret or think about later. Most cities in California, I don't think are worth the price, even in San Francisco. However, it's still a good experience. If your heart is set on somewhere, move there as long as you can afford a return ticket, get it out of your system and then you can always move to a surrounding city if you want to stay in the area long-term otherwise, get your fix and a year or two later move back.

[HapaHaole]

You'll likely need a roommate or two. The biggest hassle I had was parking and remembering to move the car on street sweeping days. Some people rack up lots of tickets $$$. That said, GO FOR IT while you're still young and single! It's a fun town and the memories will be priceless.

[HapaHaole]

Living anywhere outside the city will be nothing like living IN the city. Get a place in SF proper.

[bmw335xi]

Originally Posted by HapaHaole

Living anywhere outside the city will be nothing like living IN the city. Get a place in SF proper.

Exactly

[bigdumbgod]

Originally Posted by HapaHaole

Living anywhere outside the city will be nothing like living IN the city. Get a place in SF proper.

But are the thrills worth the debt?

[bmw335xi]

Originally Posted by bigdumbgod

But are the thrills worth the debt?

If the thrills aren't worth the debt, there are much better places to live that are more affordable than anywhere in the Bay Area with still a decent economy such as Houston. I imagine someone wanting to move to SF on $40k is doing so for the experience rather than the money, so it's better to knock it off your bucket list and then move on rather than go halfway and still live paycheck to paycheck and potentially never get that satisfaction of feeling like you got to fully experience it.