Can I afford to live in California?

I currently live in Rhode Island but I am moving to California in three months. I got hired for a job in Santa Monica that pays $100,000 a year and my husband was hired for a job in Long Beach that pays $75,000. That’s a total household income of $175,000. Can I really afford a home on this. I just sold my home in Rhode Island for $230,000 and I made $53,580 after paying the realtor. Where is a good place to live that we can afford, yet still get to work. I don’t mind a long drive, just not too long. I currently travel to Boston for work, which takes about an hour. I would like to own a house, not a condo. I have two sons and would need a 3+ bedroom home. I’m just a little worried how we can afford to live there. I’m flying out on Monday to find a house, but I’ve been looking on the internet and checked out the San Fernando Valley, Long Beach, and Northern Orange County. All I see is homes that are like $625,000 to $950,000. Is this feasible? Can I really afford California?

Public Comments

1. Those prices are real. You are moving to one of the most expensive places in America, if not the world. I wouldn't focus on owning a house right away. Renting is much cheaper than owning. Better to get there first and look.
2. I have to second Scott's opinion. I went to school outside of San Diego (Carlsbad) and got a job offer outside of Stanford when I graduated-- I actually turned it down due to the cost of living and chose Seattle instead. I would look at renting instead of buying as well and go from there. I know renting isn't your first choice, but the prices you're finding are real, and you'll find what you would classify as a "shack" for $250,000-$300,000 because the land value is so high. Congrats on your new job, though. I'm sure everything will come together for you.
3. I lived in Los Angeles for over 3 years and based on the income level you and your spouse posess, it can happen. You of course would not be able to afford a home in Santa Monica but possibly Long beach. Despite what many may assume about Long beach (yes it has its ghetto areas) but there are some middle class areas which may fit your budget. If you are looking in the Valley, I would suggest places like Pacoima, there are lots of families in that area and you would be able to obtain a 3 bedroom home for about 400-500K. I would also suggest places like Silver Lake, areas around Hoover, Sunset and Silver Lake BLVD. Though these places are not the ritziest, if you are looking for a HOUSE they are your best bet. Bottom line, these areas mentioned above are within commuting distances for you and your husband and they are in decent neighborhoods with several families. If you are looking for a grand beautiful home like your last home in Rhode Island, LA is not the place to be. I wish it was! Good luck :)
4. hi this is james and i have gone through your ques very well and i wanna know that in which city you are looking for your beautiful house because price may change according to the city and i am giving you the link http://www.terabitz.com just go through and you can filter your budget and you can find your house in any city of your choice and also can know the nearby things you might look for