Author Topic: Where should I live?  (Read 2463 times)

Morpheus

  • 5 O'Clock Shadow
  • *
  • Posts: 16
Where should I live?
« on: November 21, 2015, 08:49:14 PM »
Hello fellow mustachians,

I have been adopting the mustachian life style since I can remember. Living in a house I own and yet having a financial freedom was always a dream for me. Recently, I've began thinking about how to make this dream come true.
One of the first steps is to identify a list of cities in the US that would be suitable and affordable for me, and that is where I need your help.
Here is some more info about me:
- I am a software engineer, 30 years old, single, 0 debt.
- I am currently renting in (the crazy) SF bay area. I would love to buy a house here, but the median price is 800K for an old 3BR house which is not worth it for me. Currently renting with roommates to save more.
- 2 years from now I'm estimating to have 350-400K, that is when I plan to buy a house (2-3BR, in relatively good shape), with that cash and possibly a small mortgage.
- my plan is to then find an employer that will employ me part time (possibly remotely) and enjoy life for the rest of the time (which I do not have time for right now) the part time job will cover the ongoing expenses.
- Enjoying life for me means very simple things: staying connected with nature, hiking, biking and enjoying the simple things in life. that means that one requirement is living in a place with access to all of those.
- Due to my profession, another requirement would be to live in a place where the job market for the software/high-tech industry is relatively big, so that a good engineer could find a job assuming the market did not crash. I understand that this requirement has a (big) price.
- Warm weather year round, or at the very least - mild winters. Unfortunately, I do not do well in cold weather.

I was thinking about Austin, Texas. But the housing market there is very hot right now, and will probably appreciate a lot in the next two years.

After living with roommates, working full time and maximizing my savings most of my adult life - I'm starting to get tired and hoping to see the light at the end of the tunnel.

Any advice would be much appreciated!

lhamo

  • Senior Mustachian
  • ********
  • Posts: 10099
  • Location: Seattle
Re: Where should I live?
« Reply #1 on: November 21, 2015, 09:46:31 PM »
Lifestyle wise it sounds like Seattle would be a good fit -- but the housing costs here are probably even worse than Austin.  Cheaper places can be found in the outlying areas, which can be doable if you can telecommute either FT or PT.

Would you consider buying a duplex/triplex, living in one unit and renting out the other(s)?  That might be one way to make the housing piece work while not physically sharing your personal living space.  Lots of people looking for those as investment properties, though, so not an easy find. 

You might consider trying to find a job here sooner rather than later to see how you like it.  I think the salary:rent ratio is lower than in SFO, which would allow you to save more even if you weren't making the same high salary.  If you weren't happy, you could always move elsewhere, including back to SFO.


ShoulderThingThatGoesUp

  • Magnum Stache
  • ******
  • Posts: 3057
  • Location: Emmaus, PA
Re: Where should I live?
« Reply #2 on: November 22, 2015, 05:42:24 AM »
Just recently Austin passed a law permitting a lot more additional dwelling units to be built in the central part of town. That could make it much more affordable in the next few years.

You should experience summer there before moving, though.

undercover

  • Pencil Stache
  • ****
  • Posts: 957
Re: Where should I live?
« Reply #3 on: November 22, 2015, 07:13:58 AM »
Having visited all three, I'll weigh in.

Austin is a large town and very car dependent. It doesn't have nearly the density that Seattle and SF has. I preferred Seattle out of the three. Reasons: architecture (I prefer modern), culture, weather, access to outdoors, etc.

Buying in SF isn't the worst idea in the world, considering it's still cheaper to buy (but arguably not much), but your salary certainly has to keep up with the prices.

Don Jean

  • 5 O'Clock Shadow
  • *
  • Posts: 32
Re: Where should I live?
« Reply #4 on: November 22, 2015, 10:30:15 AM »
Hello fellow mustachians,

I have been adopting the mustachian life style since I can remember. Living in a house I own and yet having a financial freedom was always a dream for me. Recently, I've began thinking about how to make this dream come true.
One of the first steps is to identify a list of cities in the US that would be suitable and affordable for me, and that is where I need your help.
Here is some more info about me:
- I am a software engineer, 30 years old, single, 0 debt.
- I am currently renting in (the crazy) SF bay area. I would love to buy a house here, but the median price is 800K for an old 3BR house which is not worth it for me. Currently renting with roommates to save more.
- 2 years from now I'm estimating to have 350-400K, that is when I plan to buy a house (2-3BR, in relatively good shape), with that cash and possibly a small mortgage.
- my plan is to then find an employer that will employ me part time (possibly remotely) and enjoy life for the rest of the time (which I do not have time for right now) the part time job will cover the ongoing expenses.
- Enjoying life for me means very simple things: staying connected with nature, hiking, biking and enjoying the simple things in life. that means that one requirement is living in a place with access to all of those.
- Due to my profession, another requirement would be to live in a place where the job market for the software/high-tech industry is relatively big, so that a good engineer could find a job assuming the market did not crash. I understand that this requirement has a (big) price.
- Warm weather year round, or at the very least - mild winters. Unfortunately, I do not do well in cold weather.

I was thinking about Austin, Texas. But the housing market there is very hot right now, and will probably appreciate a lot in the next two years.

After living with roommates, working full time and maximizing my savings most of my adult life - I'm starting to get tired and hoping to see the light at the end of the tunnel.

Any advice would be much appreciated!

Given the list of criteria that you shared you are in an excellent location to satisfy the majority of your goals. You may not be able to buy a house; however, there is no requirement for financial independence that you purchase a home. You can continue to rent, move to the South Bay, and relish in the 300+ days on sunshine, abundance of national parks, and booming job market.

Bracken_Joy

  • Walrus Stache
  • *******
  • Posts: 8932
  • Location: Oregon
Re: Where should I live?
« Reply #5 on: November 22, 2015, 11:39:24 AM »
Portland. It's so hot right now. (In the Zoolander sense, not the temperature sense- it's currently 35F in fact) We've definitely got that whole nature/outdoors culture going on, and a LOT of people have weird/seasonal/part time/distance/entrepreneur type work schedules, so it is easy to find community even if you're not working a 9-5.

Be sure to experience our winters first, though, before you buy. Most people can't handle all the grey and drizzle. That goes for Seattle even more, though.