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Is 55k enough for a couple to live on in SF bay area?

Is 55k enough for a couple to live on in SF bay area?

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Old Dec 17th 2015, 9:13 am
  #46  
 
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by md95065
This thread was originally about the SF bay area and a one year lease with first and last month's rent plus security deposit would be quite "usual" around here.
No doubt. I was only responding to Samiam who reactivated the thread by making a sweeping generalization about rental terms apparently across the whole of the US.
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Old Dec 19th 2015, 2:26 pm
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Default Re: Is 55k enough for a couple to live on in SF bay area?

I would go for it. This is an investment in your husband's career. Whilst you will have to live frugally to break even, you can do it.
Get creative in how you search accommodation if the college do not help. You can join next door.com once in the area. Our neighbours sometimes post guest houses and the like. You could airbnb it till you find a place.
We,have,never lived on that amount in the usa but I know people who do here in an expensive part of ca. A friend lives on 28 k here in LA as she transitions her career. She is in a tiny but lovely home for 1400 and she just lives frugally.

You can do anything if it not forever.

I would not run a car so live on public transport routes, don't eat out unless places like chipotles, pAnda express .

Just try and keep your accommodation to no more than 50 percent and you will be fine.

The following blogs are helpful for frugal living.

Mrmoneymustache
Frugalwoods

I think you will have an amazing experience so long as you expect a frugal lifestyle.
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Old Dec 19th 2015, 7:56 pm
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by Pulaski
No doubt. I was only responding to Samiam who reactivated the thread by making a sweeping generalization about rental terms apparently across the whole of the US.
Sweeping maybe but I am a landlord and what I said I think you will find is accurate for any quality accommodation and especially in a high demand area like San Fran. Maybe in Podunk TX you can can move in a lot more cheaply, but me thinks not for respectable quality in San Fran.
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Old Dec 19th 2015, 8:13 pm
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by samiam1066
Sweeping maybe but I am a landlord and what I said I think you will find is accurate for any quality accommodation and especially in a high demand area like San Fran. Maybe in Podunk TX you can can move in a lot more cheaply, but me thinks not for respectable quality in San Fran.
Which was kinda my point. The US is a big country, and it isn't the same everywhere. ..... The thing you are perhaps not aware of, is that for every one registered member of BE that reads a thread, there are ten other people who read the thread too, so advice should be written in such a way that it is either (i) specific to a location(s), or (ii) general enough to be broadly applicable. Unfortunately someone could read this thread and not realise that your advice was specific to SF and similar large city rental markets.
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Old Dec 25th 2015, 10:21 pm
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by Jsmth321
You can survive anywhere on 55k, just depends on what lifestyle you want. Plenty of people working low wage jobs in San Francisco and area and manage to survive.

All boils down to the lifestyle you desire and what your used to.
Remember, though, there's a difference between surviving as a long-term resident versus surviving as a new arrival. Long-term residents are protected by rent-control in many jurisdictions, and of course have a network of friends and/or family to help them.

I've been in this area for 30 years now, and in the same house for 20 years - my mortgage for a 4-bedroom house is less than the current rent on a studio. Could I survive on 55K? I'd prefer not to have to find out but could probably manage it.

I personally think Stanford/Palo Alto is the best possible place to be in the US, for so many reasons, so if you can make it work, go for it. Housing is going to be the make/break factor.

What field are you two guys in? If you are in the tech field, you can probably make a bundle with part-time work, and that could really help.

My nephew just did a career change to become a programmer (absolutely no prior experience, just took a 3-month 'boot camp' course) and is now making $65/hr as a programmer in this area - the tech economy is good here right now.

Good Luck!
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Old Dec 26th 2015, 7:04 am
  #51  
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by Steerpike

What field are you two guys in? If you are in the tech field, you can probably make a bundle with part-time work, and that could really help.
...except most visas won't let you 'work on the side'...
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Old Dec 26th 2015, 5:32 pm
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by sherbert
...except most visas won't let you 'work on the side'...
There's a whole discussion in the thread about their visa situation; J1/J2 apparently, seems to allow work. Post #4: "Your husband would be on a J-1 visa, which would have you on a J-2, so eligible to get an EAD and work. "

Last edited by Steerpike; Dec 26th 2015 at 5:34 pm.
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Old Dec 29th 2015, 10:51 pm
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by Steerpike
There's a whole discussion in the thread about their visa situation; J1/J2 apparently, seems to allow work. Post #4: "Your husband would be on a J-1 visa, which would have you on a J-2, so eligible to get an EAD and work. "
...ooops. Zoned out with all the blah blah blahing and missed that part .
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Old Dec 30th 2015, 1:01 pm
  #54  
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Default Re: Is 55k enough for a couple to live on in SF bay area?

Originally Posted by DexterBerkeley
With respect to deposit return, the law in MA seems fairly clear. The landlord has 30 days to return it, or a list of itemized deductions. If they don't they are then liable for triple damages so owe 3 times the deposit amount. If they then want to claim damage, they have to do that as a separate suite against you, they can't say "oh there was damage so you're not getting it back".

There is some good on info mass.gov, Massachusetts Law about Tenants' Security Deposits.

On the interest matter, agreed, it's not a sum worth chasing.
This was very handy the last time I rented. I had a feeling the landlord was going to try and screw me out of the deposit so I deliberately waited until 30 days were up before chasing him. He tried to claim $600 out of the deposit (based on his hourly rate for cleaning) but backed down pretty quickly when I told him he was on the hook for $3k.

First, last and deposit is the norm outside of 495 as well.
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