Personal Consumer Issues • Pretty set financially, but considering relocation to VHCOL (Bay Area) for the career/adventure

Low 7 figures net worth
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Would be increasing salary from $240K.....
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In my L/MCOL, housing prices have doubled in the last 2-3 years.
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Even after the home prices increasing I would suspect that you have enough that you could pay cash for a house in a low to medium cost of living area.

It has been a long time since I lived in the Bay Area but one thing to realize is that many houses in the Bay Area are tiny and sometimes even less than 1,000 square feet. Not only are they expensive but you don't get a lot for your money.

Moving back in a few years might not be as easy if you change your mind. The problem is that you will be getting close to 40 and tech jobs can be a lot harder to get as you get older. There might also be a recession or bad job market when you are ready to move. Your network of contacts in the old city will also not be very strong if you are away for five years.

Would be increasing salary from $240K to $260K base and covering all moving costs. Would also be doubling equity (but I consider this lottery money since it's a private company). I realize that after taxes, the net take home pay is nearly same as I'm getting now.

You also need to adjust the money for what you would be paying to rent a similar place in the Bay Area. Even without buying a house after rent I would suspect that you would be taking a very major pay cut.

...but also feel like staying in MCOL I'll be bored b/c work is such a big part of my life.

If you have a good marriage and kids that will change.

Statistics: Posted by Watty — Sun Mar 17, 2024 7:47 pm — Replies 9 — Views 618

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