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Home / Business / THE GREAT LAW: I work in Silicon Valley, but my job is far away right now. I can finally live somewhere cheaper. Where should I go?

THE GREAT LAW: I work in Silicon Valley, but my job is far away right now. I can finally live somewhere cheaper. Where should I go?



‘The Big Move’ is a new MarketWatch column that looks at the balance of real estate and work and life.

Do you have a question about buying or selling a home? Do you know where your next move should be? Email Jacob Passy at jpassy@marketwatch.com.

I am a tech worker in Silicon Valley, and my company recently informed us that we can work remotely indefinitely. There’s a lot I want to live here – including easy access to Michelin-starred restaurants and for outdoor activities like hiking and surfing.

What I do not like is the high cost of living. I earn all that money, and they continue renting and transporting and, yes, eating out. With everything that has happened in the last six months, I have had long conversations with friends about our future, and our relationship with our work.

There should be some reward for all the long days, right? I am a tenant now but I have enough money saved to buy a house somewhere. I hate to leave, but some members of my friend̵

7;s group have the same idea. Are done! My money would go far beyond Northern California.

Where should I go?

Search and so much more than in San Jose

Dear Search,

Open Google Maps GOOG,
+ 1.77%
Google,
+ 1.80%
and get your choice.

You are only away when it comes to working from home on a more permanent basis. Until May, big companies like Twitter TWTR,
+ 0.42%
and SQ Square,
+ 0.55%
– which are run by Jack Dorsey – said they will allow many employees to work from home indefinitely.

A survey of more than 300 top financial officials conducted by research firm Gartner found that about three-quarters of them plan to relocate at least 5% of the country’s employees to remote positions permanently after COVID-19. There seems to be something aa moving away.

The pandemic has forced many people to rethink their lifestyle arrangements. Faced with the hope of working from home for many, many more months, big cities like New York and San Francisco are seeing an exodus of people moving to the suburbs.

And even more people are seeking cheaper housing in light of the pandemic-driven economic downturn. Even before COVID-19, the high-cost housing markets like where you live in San Jose were looking for people to leave simply because it had to be too expensive.

So where were those people moving? An analysis of list viewing data by Realtor.com found that 62.8% of San Francisco Bay Area buyer homes viewed actually were not in the Bay Area. Here are the Top 10 most viewed county houses by current Bay Area residents:

  1. . Sacramento
  2. . St. Joachim
  3. . sand reserve in gold content
  4. . Golden
  5. . Stanislaus
  6. .. Monterey
  7. . angels
  8. . Santa Cruz
  9. . Fresno
  10. .. Nevada

Buying a home like this in the Bay Area of ​​California can cost you an arm and a leg – but looking further will give you many more affordable options.

Getty Images

“We’re seeing a shift from San Francisco to what we’re going to call the North Bay, the East Bay, the Central Valley, and even Sacramento,” said Scott Fuller, a real estate broker and founder of LeavingTheBayArea. com, a real estate services firm that helps people relocate outside of California.

“People are feeling like they are being given some independence and some flexibility and they want what they would consider a better quality of life,” he said.

Many of the counties from the Realtor.com list – included Sacramento and St. Joachim– are in the Central Valley. This region has become increasingly popular in recent years due to high house prices in areas like San Jose and San Francisco.

(Realtor.com is run by NWSA News Corp.,
+ 1.84%
a subsidiary of Move Inc., and MarketWatch is a subsidiary of Dow Jone, which is also a subsidiary of News Corp.)

But the move to this part of California has its commercial consequences. “The most exciting thing you can do is go to Safeway or maybe duck hunting,” said Pat Kapowich, a Silicon Valley-based real estate broker. “Still is still really a community in the bedroom – you have to get in your car if you want to do something interesting or fun.”


“Stills is still really a bedroom community – you have to get in your car if you want to do something interesting or fun.”


– Pat Kapowich, a Silicon Valley real estate broker based on the estate to live in the Central California Valley

It’s a bit of a regeneration of the car phenomenon — until we qualified to see the housing bubble that preceded the Great Recession — people are moving to many cities and towns in the region, despite traveling for hours to work, because they can afford to buy a house here.

For someone in your position, who can work remotely indefinitely, living in Central Valley could make a lot of sense. It is not too long to look for a lot of the amenities you like where you live now – the beach, the mountains, and even the Napa wineries.

Plus, you need to consider the fact that you may want to change jobs permanently – and, if you do, your new job may not be far off. If you decide to shop in this region, if need be, you could theoretically move to a job in Silicon Valley.

But let’s say you got tired of living in California. There are many markets all over the place where you could be happy. Again, it must be considered whether the region has a thriving or growing technology sector. Along these lines, there are common suspects – places like Seattle, Denver and Austin.

But other markets Fuller and Kapowich identified as popular among its customers also include areas like Phoenix, Nashville, Raleigh, NC, and Boise, Idaho. Even more places to consider include Scottsdale, Ariz., Reno and Santa Fe or Albuquerque, NM

In most of these places “for $ 500,000 and less you can get into a house that will be at least 3,000 square feet,” Fuller said.

Don’t get me wrong:Immigrants to California are not all moving to cheaper housing markets

Fuller estimated that about 80% of his clients who decide to relocate completely outside of California still stay west of the Rocky Mountains. “They have a family or something that ties them back, so they want to be within a few hours of the plane ride back to California,” he said.

Some of these cities – like Seattle, Nashville and Denver – will offer a lot in the way of restaurants, entertainment and access to large venues. Unfortunately, it can be difficult to fully replicate the lifestyle you can currently lead in the Gulf Zone.

“Here you have all these activities within a 90-minute drive,” Kapowich said. “You can go surfing on Saturday and skiing in the snow on Sunday.”

Why didn’t I give you one or two suggestions?

These are not normal times, so instead I suggest you go to your network to see if you know people living in those areas and get the honest truth from them about that lifestyle you could lead after moving. Pandemic is a time when we can and should rely on each other.

Take some time to narrow down where you might want to live, and then fly to see if your most desired equipment is within a stone’s throw. If you have close friends who have the same idea, you can pool your resources, creatively, if not financially.

It may be easier if you make some of these decisions together.


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