As one of the largest and most diverse states in the United States, California has long been a beacon of opportunity, a hub of innovation and highly desired place to call home. However, as home prices continue to rise and the cost of living increases, many Californians are starting to consider leaving the Golden State. While there are certainly compelling reasons to explore other options, there are also some strong arguments for staying put. In this blog, we’ll explore both sides of the debate and help you determine if leaving California is the right move for you.
Let’s start with the pros:
- Job opportunities: California is home to several major cities with thriving industries, including tech, entertainment, and healthcare. The state’s economy is the largest in the U.S., and this means that there are many job opportunities for those with the right skills and experience. You may not have the same opportunities at the same pay rate in another state.
- Lifestyle: California is known for its warm weather, beautiful beaches, and outdoor recreation opportunities. Whether you enjoy hiking, surfing, or just soaking up the sun, California has something for everyone. If you leave the state, you may find your new city lacking in this area.
- Diversity: California is one of the most diverse states in the country, and this diversity is reflected in its food, culture, and people. This can make for a rich and rewarding experience, and it’s one of the things that many people love about living here. If diversity is something you value, it is worth considering.
- Education: California is home to some of the best universities in the world, including Stanford, UC Berkeley, and UCLA. This means that if you’re looking to further your education or considering the education costs for your child who may be attending college soon, this is a factor worth considering.
- Health and wellness: California has a strong focus on health and wellness, with many residents prioritizing healthy living and sustainability. From farm-to-table restaurants to yoga studios and outdoor fitness classes, there are many ways to prioritize your health and wellness in California. It’s worth noting, the beautiful weather makes it easy to take advantage of and feel inspired to do many of these activities.
- Cultural experiences: California is home to many museums, art galleries, and music venues, providing ample opportunities to experience and explore the arts. Whether you’re interested in classical music, modern art, or live theater, you’ll find plenty of options in California.
- Entrepreneurial spirit: California has a long history of innovation and entrepreneurship, and this is reflected in its start-up culture. If you’re interested in starting your own business or working for a start-up, California is an excellent place to be.
Now, for the cons:
- Lower Cost of Living: For many people, the cost of living in California has become increasingly prohibitive. Leaving California for a state with a lower cost of living can make it easier to afford essentials like housing, groceries, and healthcare.
- Affordable Real Estate: California has some of the highest home prices in the country, making it difficult for many people to buy property. Moving to a state with more affordable real estate can make it easier to become a homeowner.
- More Job Opportunities: Although California has a lot of job opportunities, many people find it difficult to find employment in their desired field due to high competition. Moving to a state with a lower population density can increase the number of job opportunities available to you.
- Lower Taxes: California has some of the highest state income taxes in the country, which can take a significant chunk out of your paycheck. Moving to a state with lower taxes can help you keep more of your hard-earned money.
- Improved Quality of Life: Leaving California can provide a chance for a fresh start and an improved quality of life. Lowering your cost of living and living in a less crowded area can lead to less stress and more free time to pursue your hobbies and interests.
In conclusion, the decision to leave California due to high interest rates, cost of living, and property prices is a personal one and requires careful consideration of both the pros and cons. While some may find that leaving offers financial relief and more affordable living options, others may choose to stay for the diverse culture, job opportunities, and overall lifestyle that California has to offer. Ultimately, it is important to weigh the factors that are most important to you and make the decision that aligns with your personal goals and values.
If you’d like to talk through this decision and run the numbers so you’re making a truly informed decision, please schedule a call with us. We’re here to support you on your buying journey, wherever that takes you.