If you are looking to buy a house or move to Silicon Valley but aren’t sure about the cultural change, it can be a good idea to do some research and get an idea of what’s in store.
Obviously, the Silicon Valley area and the Bay Area, in general, are filled with technology companies, venture capitalists, and more — you still may not know how living and working near this type of environment will mean. While you are able to predict the weather and gas prices, not wearing a hoodie or paying an extra $1 per gallon of gas is a bit different than realizing that your neighbor was on the ground floor of Google when it started.
Let’s take a closer look at some of these strange idiosyncrasies of living in Silicon Valley.
Not Expecting the High Incomes and High Prices
Most people expect prices and salaries in this area to be high, but they still may be underestimating these things in their heads.
For example, it’s not uncommon for people searching for a 3 bedroom, 2 bedroom house in Palo Alto to have a $1 million budget. Or, similarly, someone renting a two-bedroom location in Mountain View for $4K a month.
Don’t be surprised if you hear of people with a $1000/month budget searching for a roommate in an area with good public transportation.
Obviously, these prices can be considered high for some, but not everyone — especially those who are living and working in Silicon Valley. The same people who hear of $200k annual salaries and don’t think it’s a big deal. The same people who have a Google or Apple employee badge number under 99. The same people who, despite paying to live in a neighborhood with amazing schools, still have their kids attending private schools.
These are the types of cultural adjustments that you’ll likely have to consider when it comes to finances. But what about other things, well, with all the Bay Area tech companies, someone who is naive may have some trouble figuring things out initially.
Naive to Tech Companies
When people think of Silicon Valley, their minds immediately start thinking of tech companies like Google, Apple, Microsoft, etc. This shouldn’t be surprising, these companies that shift the paradigm of the tech world live and work out of this area. Because of this, and many other reasons, many other budding tech companies, start-ups, and venture capitalists have flocked to this area in search of the same successes.
While hearing from someone that works at Facebook or Google may be unique in other places, in Silicon Valley it is something people can sometimes come to expect. Not only that but hearing about someone’s friend, son, brother, uncle, aunt, etc who started or works for a major company as well isn’t uncommon either.
Don’t be surprised if, when you move to Silicon Valley, you start hearing about everyone and their nieces’ start-ups. Phrases like “I took a lower salary because my start-up’s equity is going to be worth so much money.”
Once you get more used to hearing all of these things and not having as much of a reaction, you’ll start to be thought of as someone who isn’t new to Silicon Valley any longer.
These are just some of the things that you may have to expect when moving to Silicon Valley. Obviously, some of these are major changes to what you have come to know, but it isn’t a foreign land. If you are interested in learning more about living in Silicon Valley or the Santa Clara Valley, give our team at Silicon Valley and Beyond to learn more about the house buying process for this area.