One year ago I moved from a modest apartment in San Francisco to a brand new house in Brentwood (about 50 miles east). The last year hasn't been easy, though I'm confused about what to do next.
Brentwood is a beautiful area, especially in the winter and spring when everything's green. In the summer, the heat is stifling, but that's why I have air conditioning. It seems like a decent place to raise your kids, but I'm not quite at that point in my life yet. There's very little to do here: it's a bedroom community. There are shopping centers, churches, fast food places, and that's about it. I'm pretty much agnostic, so no church activities for me. I was going to take golf lessons but that never panned out.
The hardest part of living here is being away from friends and family. Truth be told, it's awfully hard to get anyone to visit, despite it being just an hour drive away. That is the main motivation for me wanting to get out of here at this time next year.
Due to tax reasons, I have to live here for two years in order to not get screwed on capital gains taxes. So I'm free to go next October 27th.
The thing is... what next? I'd love to move back to SF or at least close, but I'm not sure if I can afford to buy there. I paid $350,000 for this house... will they let me buy a $700,000 house? Who knows.
I really got screwed when I wanted a mortgage because I'm self-employed. I made a lot of money this year, so I'm hoping that will help boost my net income numbers (which is what they base your mortgage on if you're self-employed). Also, I've saved up for a bigger down-payment using savings, capital gains from selling this house, and my upcoming insurance settlement (I hope).
So I could move to SF or close enough... and I've also thought of moving down south to where my sister lives... it's a bit cheaper down there and it's a nice area.
I guess it really comes down to this: how much money is the bank willing to give me? We'll find out next year...