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It's $230k after tax. > Anyone can live even in the bay area on half of that, extremely comfortably. You really might want to expand on "extremely comfortably

It's $230k after tax. > Anyone can live even in the bay area on half of that, extremely comfortably. You really might want to expand on "extremely comfortably". We all have very different definitions. I'd like a home with AC, good transportation, close enough to SF to actually make it up on weeknights (30-40 min drive), a retirement plan that works with the assumption I live in this area indefinitely, and a <=20 minute commute. I will not have that for $115-130k/yr net income. Just isn't available in the rental market we have. I'm not even getting into the part where I'd like to live in a nice neighborhood with good schools.

taurath 7y ago
$115k/yr is $9600/mo. You can spend $5k/mo on a rental with all of those properties, and have $4600/mo for food, utilities, bi-annual trips to europe, the payment for your porsche, and a housekeeper, all whilst saving half of your income to buy a house in the most expensive region of the US in 2-3 years. You can literally have all of those things.
- cdkee 7y ago
  After taxes 115k is more like 5-6k a month, depending on how much you’re putting into retirement accounts, healthcare, etc.
  - borski 7y ago
    Parent was already talking about net, after taxes.
- bradlys 7y ago
  Where is this $5k/month house with AC within 40 minutes drive of SF and 20 minutes drive of work? (Menlo Park to Mountain View generally being work area) It basically limits you to San Mateo to Mountain View. I haven't seen anything for $5k/month with AC there. If you find it, let me know. I'm in the market - lol. I have seen one show up here and there but it's almost unequivocally in a terrible neighborhood and/or near the train tracks. Both are dealbreakers. I ain't listening to trains go by at midnight or blast horns at every intersection. Lived that life - done with it.
  - borski 7y ago
    I spent 3 minutes searching: https://www.padmapper.com/apartments/36746960/3-bedroom-2-bath-apartment-at-3925-nelson-dr-palo-alto-ca-94306 https://www.padmapper.com/apartments/36746960/3-bedroom-2-ba... https://www.padmapper.com/apartments/13951431/3-bedroom-2-bath-apartment-at-2062-rialto-ct-mountain-view-ca-94043 https://www.padmapper.com/apartments/13951431/3-bedroom-2-ba... Point is: the trope of “nobody can live in the Bay Area on 125k net” is total bullshit, tired, and flat-out untrue. Is it harder than living on 125k elsewhere? Absolutely. Are you “poor” and unable to afford a great house? No, not at all. There are plenty of great places.
    - bradlys 7y ago
      > https://www.padmapper.com/apartments/36746960/3-bedroom-2-ba.. https://www.padmapper.com/apartments/36746960/3-bedroom-2-ba.... > https://www.padmapper.com/apartments/13951431/3-bedroom-2-ba.. https://www.padmapper.com/apartments/13951431/3-bedroom-2-ba.... These are apartments - not single family homes.
      - borski 7y ago
        I mean, I’m not actually a realtor, but here’s a home for you: https://www.padmapper.com/apartments/35506914/3-bedroom-2-bath-apartment-at-251-chiquita-ave-mountain-view-ca-94041 https://www.padmapper.com/apartments/35506914/3-bedroom-2-ba... My search space was Mountain View, so expand and you’ll find more. Point is there are plenty of options, you just have to look for them. And, to be fair, I only searched PadMapper, which is an apartment rental website, so my results weren’t even focused on SFH.
        bradlys 7y ago
        > https://www.padmapper.com/apartments/35506914/3-bedroom-2-ba.. https://www.padmapper.com/apartments/35506914/3-bedroom-2-ba.... Doesn't have AC. Looks like a pretty depressing home - tbh. HDR'd to hell but a brick yard and a BYO washer/dryer that's literally underneath the sun and skies isn't exactly where I'd like to put my expensive appliances. You can check Craigslist and you won't have much better results. Adding AC | Air Conditioning to your search criteria makes it narrow. Go figure - homes with it are in high demand. God forbid they say, "Air conditioning" but really mean just central air and there's no actual air conditioning. Went to more than one showing that advertised that falsity. :( Either way, this is beyond the point. Spending over 50% of your net income on rent alone isn't a great move. Which is what you'd be doing at $115k net income.
- base698 7y ago
  Eh, twice that ($230K) after 401K, insurance, and taxes is barely over $10K a month. Not sure how you got $115K being $9600.
  - joshuamorton 7y ago
    They're talking about net, not gross.
  - PenguinCoder 7y ago
    Do people really bitching about ~barely~ over 10k USD a MONTH? There's a lot of people living on that or barely double that, for a year. Yes, even in/near SF. Quit with the damn entitlement.
    - closeparen 7y ago
      You need $8-10k/mo for mortgage and property tax payments on a median home, so yes, the "barely" part is your entire discretionary budget.
    - base698 7y ago
      Wasn't bitching, just not understanding how one could get $9600 from $115K.
  - taurath 7y ago
    We were talking net, after taxes, and after saving half of the net on a $400k salary. $115000 / 12 months === $9583.33
- closeparen 7y ago
  >You can spend $5k/mo on a rental This is the key to happiness in the Bay Area, honestly. The rentals are just fine if you're willing to shell out. Sure you're not building wealth but you have plenty left over to invest, even in a kickass high-rise apartment. It's specifically a desire to own that will screw you over, no matter your compensation.
esoterica 7y ago
Unless you want a 5BR SFH you can definitely have that on much less than 130k/year.
deleted 7y ago
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taurath 7y ago

$115k/yr is $9600/mo. You can spend $5k/mo on a rental with all of those properties, and have $4600/mo for food, utilities, bi-annual trips to europe, the payment for your porsche, and a housekeeper, all whilst saving half of your income to buy a house in the most expensive region of the US in 2-3 years. You can literally have all of those things.

cdkee 7y ago
After taxes 115k is more like 5-6k a month, depending on how much you’re putting into retirement accounts, healthcare, etc.
- borski 7y ago
  Parent was already talking about net, after taxes.
bradlys 7y ago
Where is this $5k/month house with AC within 40 minutes drive of SF and 20 minutes drive of work? (Menlo Park to Mountain View generally being work area) It basically limits you to San Mateo to Mountain View. I haven't seen anything for $5k/month with AC there. If you find it, let me know. I'm in the market - lol. I have seen one show up here and there but it's almost unequivocally in a terrible neighborhood and/or near the train tracks. Both are dealbreakers. I ain't listening to trains go by at midnight or blast horns at every intersection. Lived that life - done with it.
- borski 7y ago
  I spent 3 minutes searching: https://www.padmapper.com/apartments/36746960/3-bedroom-2-bath-apartment-at-3925-nelson-dr-palo-alto-ca-94306 https://www.padmapper.com/apartments/36746960/3-bedroom-2-ba... https://www.padmapper.com/apartments/13951431/3-bedroom-2-bath-apartment-at-2062-rialto-ct-mountain-view-ca-94043 https://www.padmapper.com/apartments/13951431/3-bedroom-2-ba... Point is: the trope of “nobody can live in the Bay Area on 125k net” is total bullshit, tired, and flat-out untrue. Is it harder than living on 125k elsewhere? Absolutely. Are you “poor” and unable to afford a great house? No, not at all. There are plenty of great places.
  - bradlys 7y ago
    > https://www.padmapper.com/apartments/36746960/3-bedroom-2-ba.. https://www.padmapper.com/apartments/36746960/3-bedroom-2-ba.... > https://www.padmapper.com/apartments/13951431/3-bedroom-2-ba.. https://www.padmapper.com/apartments/13951431/3-bedroom-2-ba.... These are apartments - not single family homes.
    - borski 7y ago
      I mean, I’m not actually a realtor, but here’s a home for you: https://www.padmapper.com/apartments/35506914/3-bedroom-2-bath-apartment-at-251-chiquita-ave-mountain-view-ca-94041 https://www.padmapper.com/apartments/35506914/3-bedroom-2-ba... My search space was Mountain View, so expand and you’ll find more. Point is there are plenty of options, you just have to look for them. And, to be fair, I only searched PadMapper, which is an apartment rental website, so my results weren’t even focused on SFH.
      - bradlys 7y ago
        > https://www.padmapper.com/apartments/35506914/3-bedroom-2-ba.. https://www.padmapper.com/apartments/35506914/3-bedroom-2-ba.... Doesn't have AC. Looks like a pretty depressing home - tbh. HDR'd to hell but a brick yard and a BYO washer/dryer that's literally underneath the sun and skies isn't exactly where I'd like to put my expensive appliances. You can check Craigslist and you won't have much better results. Adding AC | Air Conditioning to your search criteria makes it narrow. Go figure - homes with it are in high demand. God forbid they say, "Air conditioning" but really mean just central air and there's no actual air conditioning. Went to more than one showing that advertised that falsity. :( Either way, this is beyond the point. Spending over 50% of your net income on rent alone isn't a great move. Which is what you'd be doing at $115k net income.
base698 7y ago
Eh, twice that ($230K) after 401K, insurance, and taxes is barely over $10K a month. Not sure how you got $115K being $9600.
- joshuamorton 7y ago
  They're talking about net, not gross.
- PenguinCoder 7y ago
  Do people really bitching about ~barely~ over 10k USD a MONTH? There's a lot of people living on that or barely double that, for a year. Yes, even in/near SF. Quit with the damn entitlement.
  - closeparen 7y ago
    You need $8-10k/mo for mortgage and property tax payments on a median home, so yes, the "barely" part is your entire discretionary budget.
  - base698 7y ago
    Wasn't bitching, just not understanding how one could get $9600 from $115K.
- taurath 7y ago
  We were talking net, after taxes, and after saving half of the net on a $400k salary. $115000 / 12 months === $9583.33
closeparen 7y ago
>You can spend $5k/mo on a rental This is the key to happiness in the Bay Area, honestly. The rentals are just fine if you're willing to shell out. Sure you're not building wealth but you have plenty left over to invest, even in a kickass high-rise apartment. It's specifically a desire to own that will screw you over, no matter your compensation.

esoterica 7y ago

Unless you want a 5BR SFH you can definitely have that on much less than 130k/year.

deleted 7y ago

[deleted]