Moving to Bay Area - Advice on non-traditional housing options?

Question

I'm a recent graduate moving to the San Francisco Bay Area in October for a job with a technology company. I'm married and we have our first baby on the way so we're looking for something that's at least a 2 bed 1 bath ideally. I'm currently a licensed Realtor in Utah and have been a BP fan for a couple of years so I have some knowledge of investing but we have yet to purchase our first property.

Rent in the Bay Area will be at least/around 2k a month for what we're looking for so I want to explore alternative options to simply finding an apartment to rent on Zillow and throwing my entire salary the landlord's way. I'm less familiar with the CA market so I'm curious if anyone has any recommendations for first-time home-buyer programs, off market deals, or niche areas to look at. We're interested in Walnut Creek, Lafayette area specifically but would consider anywhere that's around an hour commute into SF.

Are there any other factors besides high prices in the SF market that we should take into consideration before buying?

We'd be open to managing properties in exchange for rent or working out some sort of arrangement with a landlord as well if anyone knows of any unique opportunities like that.

Thanks in advance for your help!

Connor Cushman · Answer

Account Closed Thanks for chiming in. Just to clarify.. my take home is higher than 2k a month, but I'm hoping to find housing options around that number... Ideally a rent-to-own situation or managing a property in exchange for rent. Something like that.

The SF market is definitely tough which is why I'm trying to leverage as many resources as possible well in advance of our move date. I like the ADU/Guest House idea - just a matter of finding one. Thanks for the suggestions!

Account Closed · Answer

I do not recommend this, but some people discreetly live in the office that they rent. This happened with at least two co-tenants in my last office building.

Connor Cushman · Answer

@Mark Hogan I've heard that Craigslist is popular out there. Thanks for the tip on Pleasant Hill. I'll look in that area. Thanks!

Mark Hogan · Answer

In the type of areas you are mentioning it is going to be tough. I might look a little further out (like Pleasant Hill) if you really want to stay in that price range. People use Craigslist a lot more to rent apartments here than Zillow, I would look there if you're focused on paying $2k/mo. You can also occasionally find non traditional situations like you describe on there but they are sometimes categorized elsewhere (not under the housing section).

Lee Bell · Answer

If your take home is only in the range of $2k per month it sounds like a serious mismatch.

I'll assume a tent or old RV down by the river is out with a baby coming.

Maybe you can find a room in a house, or an ADU or guest house in someones back yard?

I am not familiar with the SF market but think it is even worse / higher priced than the LA market where I am. Good luck.

Moving to Bay Area - Advice on non-traditional housing options?

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