Las Vegas to San Jose..move? Confused? (home, go bankrupt)

[Lanienguyen]

Originally Posted by neutrino78x

I was responding to the claim that one would struggle on 140k in Silicon Valley, which is complete and utter nonsense. That is a middle class salary here.

Here is an example of a four bedroom dwelling one can purchase on a middle class salary in San Jose:

1520 East Capitol Expy #88, San Jose, CA For Sale | Trulia.com

Yes, I realize it is a mobile/manufactured home. The mortgage is 1191/month (estimated), which the OP can easily afford. Trulia says it is a safe area, very low risk of crime. This is a high CoL area, so you aren't going to get Hayes Mansion on a middle class income. But this is middle class housing because the middle class can purchase it.

You also forgot a big one too. Land's rental, the cost is the same or more than the mortgage of the mobile home. If it's cheap rental, it's senior park.

[roadwarrior101]

Originally Posted by blueskywalker

Why so snarky?
So i was wrong about the temps in San Jose.
But it is too hot for me and add to that bad air and bleccchhhh.
And it's silly to claim that something that's so subjective is "ridiculous" btw.

Santa Cruz is too cold for me, except for the rare hot day in SJ, where it is 80 by the coast. 95% of the time the weather is better in the Silicon Valley.

Agree with you regarding the air quality.

[Lanienguyen]

Originally Posted by Robertsonsm09

Yeah I don't know if I could handle living on only 3700.00 after rent. Still would have utilities and commuting. My husband said don't forget we get stocks too. I just don't know how stocks work??? I've seen a lot house toward evergreen area that I like. Is the commute to mountainview bad from evergreen? Most houses I like our in the 4,000 range.

Base on the bank standard, (mortgage qualification), you should be fine if moving to SJ.
$140K/year or $11,667/ month. 1/3 of them is for mortgage (rental) = $3888, 1/3 for tax and 1/3 for monthly expenses.
As other posters mentioned $3000/month for 3 BR single house (if the kids share room) in average area is able to find. ( May be little more in better area.)
Stock options or bonus don't count into your income. It's good if the bonus kick in so your family can take a vacation. But stock option???? not always a winner.
If you take a gamble, you will be fine here. I hope you will find 2nd income soon.
What if your husband company is a start up company, and few year later, the stocks get IPO then you become millionaire.
FYI, the houses here are small, average 1200-1500 sq. The room also small too.. Not like the house you live in Las Vegas.

[silverkris]

Originally Posted by Lanienguyen

You also forgot a big one too. Land's rental, the cost is the same or more than the mortgage of the mobile home. If it's cheap rental, it's senior park.

Mobile home parks also are threatened by rising land prices. There's been a number of cases where the owner of the MHB wants to sell out to a developer, which necessitates displacing the residents. There's been a big fight over the Buena Vista MHB in Palo Alto (not surprising!), for example.

[Robertsonsm09]

Oh wow.. So much snarling ..��
Ok possible job is with one of the high rep tech companies, who has been around for long time. Vegas people aren't very friendly here. You'll start making a good friend for about 4 months and poof their gone. People are always on defense. We are looking to rent. Not buy. Let me tell you... Schools are at a very low standard here compare to the schools out there.. I also went to private schools and / public growing up. My opinion they are far worse sometimes then public schools. I honestly appreciate all the opinions. I do think we would be just fine. Plus if I had to I would look for a job myself once settled in. The summers.. Ok I love the heat but I just can't handle the 115 throughout the summer and getting in your car at 120. The 119 during the night when you sleep. The 500+ electric bills. I'm tired of the dried up desert to look at. We defiantly want change and culture wise I think it will be great for our children and their futures to experience this change. Only thing we will miss here in Vegas is family. But once I find a good Christian church we will be Great!

[2sleepy]

Originally Posted by RVD90277

math is way off.
140k/year is 11,666/month or roughly $7500/mo after taxes.
it's not great money in the bay area but it's not like 100% of that will go to rent.

Go back and look at their post, they are talking about two pay periods in a month so their numbers are virtually the same as yours

[2sleepy]

Originally Posted by Robertsonsm09

Oh wow.. So much snarling ..��
Ok possible job is with one of the high rep tech companies, who has been around for long time. Vegas people aren't very friendly here. You'll start making a good friend for about 4 months and poof their gone. People are always on defense. We are looking to rent. Not buy. Let me tell you... Schools are at a very low standard here compare to the schools out there.. I also went to private schools and / public growing up. My opinion they are far worse sometimes then public schools. I honestly appreciate all the opinions. I do think we would be just fine. Plus if I had to I would look for a job myself once settled in. The summers.. Ok I love the heat but I just can't handle the 115 throughout the summer and getting in your car at 120. The 119 during the night when you sleep. The 500+ electric bills. I'm tired of the dried up desert to look at. We defiantly want change and culture wise I think it will be great for our children and their futures to experience this change. Only thing we will miss here in Vegas is family. But once I find a good Christian church we will be Great!

Nevada schools are awful, personally I don't think Nevada is a great place to raise a family. I am not sure why people think you can't make it on 140k a year I think you can do just fine, but as others have said you probably won't be able to for a 3k sq ft stucco house like you can in Vegas, but it doesn't seem that is important to you

[MediocreButArrogant]

Five kids? I wouldn't move here unless you were certain you could have $400k/yr income within a year or two. I've owned my second home in Las Vegas for almost 20 years, so I'm very familiar with both areas. They couldn't be more different. Ok, that's an exaggeration, I'm sure parts of Mississippi would be more different than Las Vegas is to San Jose.

[bfpri]

140k? Sounds like he's being lowballed...I know new grads making that much starting out (including bonuses and stocks). I would get that offer first, then after finding out the total compensation make a decision from there.

[neutrino78x]

Originally Posted by Lanienguyen

You also forgot a big one too. Land's rental, the cost is the same or more than the mortgage of the mobile home. If it's cheap rental, it's senior park.

Crap. Didn't see that, I stand corrected. There are other mobile home parks in Silicon Valley, though.