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Several of my friends are considering moving from SF and other popular places on the peninsula to Half Moon Bay (or somewhere like it). When rent for your 2 be
by jartelt 10y ago
Several of my friends are considering moving from SF and other popular places on the peninsula to Half Moon Bay (or somewhere like it). When rent for your 2 bedroom apartment goes over $3,000, you notice that you are basically paying the equivalent of the monthly mortgage payment on a $750,000 house. Then, you realize you may be having kids in a few years and will probably want a small yard and no shared walls. Of course, you then must start saving like mad so you can get the ~$100k needed for the down payment on your $800k fixer upper.
- sjg007 10y agoHalf Moon Bay is not that much cheaper...
- jartelt 10y agoTrue, it's not THAT much cheaper, but it's a place where can actually find a 3 bedroom / 2 bathroom standalone home for <$1M in the bay area that is within 45 minutes of most jobs. When you can only afford a $800k mortgage, your options are severely limited.
- juliangoldsmith 10y ago>When rent for your 2 bedroom apartment goes over $3,000, you notice that you are basically paying the equivalent of the monthly mortgage payment on a $750,000 house. Jesus Christ. It would be very difficult to even spend that much money on a house or apartment near where I live, outside Charlotte, NC.
- spaceflunky 10y agoHalf Moon Bay seems like a good idea, until everyone starts having the same "good idea" as you and then the tiny back country roads coming into and out of Half Moon Bay turn a 45min commute into a 1h30min commute and you're back at square one. These 'clever hacks' are not sustainable solutions to the bigger problem at hand.