Perche' voglio comprare casa nella Baia di San Francisco

This is where good jobs are
It isn't easy to think of another place in the world where the economy is so dynamic, companies are so forward looking in their employment policies, and highly-skilled profiles are so sought after. There certainly are other places in the world where the economy is strong, but frankly the Bay Area may be the best fit for Andrea's profile.

Build equity as part of our investment portfolio
Given the economics of the real estate market in the Bay Area, we won't be able to afford the house of our dream right off the bat.

And given the trends of real estate in the Bay Area, we won't become able to afford the house of our dreams any time soon. Not as long as we pay rent at the current rates.

But we could progressively accumulate the financial resources that we need to get where we want if we built equity instead of paying rent.

On the one hand, this approach presents some risks as we'd concentrate a lot of capital in one investment and the investment may return poorly in the years to come. On the other hand, it's hard to believe that the market would tank so severely that we'd be worse off by saving what we now spend in rent.

Protection against rent inflation
We think that we pay a lot and we feel squeezed. Yet we'd be delusional if we thought that this is it. Quite the contrary: rent will keep increasing for as long as there are successful companies and many job openings in an area that has so many constraints to more real estate developments.

Remodel to our preference
Beyond financial considerations, owning could be very convenient for our lifestyle.

For example, I'd love to have a kitchen sink with a long faucet so I don't have to battle to rinse a pot or a large pan. I wish I didn't have to crouch in the shower to wash my head. I'd love to turn those sprinklers off and stop wasting water.

One of the best places to live on Earth
Just to name a few of the great things around here:

  • Temperate climate all year round
  • Diversity
  • Populous but not too crowded, not even close to the alienating urban settings of other metropolitan areas
  • Great public school systems in many neighborhoods
  • Low crime rates in most neighborhoods
  • Great outdoors within minutes: half of the Peninsula is a State Park or an Open Space Preserve
  • Amazing outdoors at driving distance: Muir Woods, Point Reyes and Tomales Bay, Santa Cruz, Yosemite, Wildlife Refuges everywhere, Tahoe. You name it.

Admittedly, these are positives of simply living here. However, if the long-term decision is to live in the Bay Area, then why wouldn't we buy?
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