patrick.net

Um I am not dumb with money but deductions only go so far and RBA is way overpriced for crapshacks. I have plans in the works to resolve this.

Bay area real estate makes it too expensive unless you make a few million a year and I don't make that much.

SJ says

Um I am not dumb with money but deductions only go so far and RBA is way overpriced for crapshacks. I have plans in the works to resolve this.

Do your plans include changing your handle from SJ to Sac?

Perhaps after my pilot license I can actually afford a plane and home outside the bay area for business.

I agree with Roberto. If you have a huge federal tax bill, you either a) make a ton of money or b) need to find a good accountant. Federal taxes are at their lowest since the 1950s.

You claim your tax bill is preventing you from buying a home in the Bay Area. "High federal taxes" have nothing to do with the price of real estate in the Bay Area. You can blame part of that one on Prop 13.

I have a good accountant and only recently made more money last year or so. Still having 200k to put down on a 2 million dollar crapshack is not attractive to me either.

Then shouldn't the title be "Not willing to pony up $200K down payment for craptastic overpriced shack"? I don't see how complaining about "high" fed taxes has to do with your reluctance to pay for an overpriced house.

If your taxes were lower, would you be any more excited about putting up that large sum of money?

No, high prices are what's keeping us buyers from buying.

Seriously if your income is so high that the taxes are alleyways keeping you from buying a house here you CAN easily afford one. It may not be the 10,000 sqft 12 bd/10ba Atherton palace with full finished, fully stocked basement orgy room you want but it will be a house in the Bay Area.

Now if you want that OTHER house you can probably afford one like it in Phoenix...

I plan to buy outside bay area after I have my pilot license and commute 1x a week. Cheaper for a 5000 square foot home, plane and this than 1 million for a 2000 square foot crapshack in the bay area.

SJ says

I plan to buy outside bay area after I have my pilot license and commute 1x a week. Cheaper for a 5000 square foot home, plane and this than 1 million for a 2000 square foot crapshack in the bay area.

I have known people who do this type of thing. They usually end up renting an apartment and living in it for the week while their family lives in Idaho, Oregon or someplace far away.

It sucks.

As for becoming a commuter pilot you'd have to deal with night flying, bad weather and the astronomical price of aviation maintenance.

I ran the numbers and if I can work remote most of the week it makes perfect sense.

Where are you thinking of going?

Not sure yet. I will start looking this summer once I have my pilot license. Places within 200 miles so that if there is a bad thunderstorm, fog, etc that driving is still possible within few hours. Since I also like sailing and boating, will keep a sailboat on the marina eventually with a camper so that I can spend time close to work on occasion to enjoy sailing. Best of both worlds: aviation and sailing if I can make the numbers work and business expenses with my accountant. For me, I would rather own a boat, plane, two cars and nice big house for what a tiny crapshack costs in the bay area. I am single and no plans to get married or have kids so I can actually do this and pull it off. It does take time to find an airpark home because not many are for sale so I have to be patient.