Both me and my husband work at top notch companies in bay area and make around 400k. Even with this kind of salary we are unable to buy a single family home in Cupertino. We want Cupertino because of good schools and shorter commute to our work. What should we do in addition to our regular job to be able to afford such expensive houses? Any suggestions on investments/ business etc ?
My advice: do what I did. Move to Minnesota.
Here's a more fleshed version of that advice via Michael Church:
The first is to leave Silicon Valley. It's expensive, exclusive, obsessed with power and success with no concern for how they are achieved, and an utterly terrible place to raise children-- unless you want your kids to be the sort who bawl when you give them, as a 16th birthday present, a car that's "only" $35,000, because the doors "open like this instead of this". Unless you have no hope of getting a comparable income (say, $250,000 or up, considering cost of living) in Boulder, Chicago, Austin, Seattle, Boston, or New York... (ok, New York probably requires more than $300k to raise a family) I don't know why you would stay there. The Bay Area's fine when you're 22 and need to establish yourself, because the benefits of being in Corporate HQ if you work at, say, Google or Apple, are pretty massive. If you haven't made fuck-you money (so you can say "fuck you" to all the insufferable people in Silicon Valley, and even if they have more power and wealth than you, it doesn't matter because you have enough) by child-raising age, I don't know why you're still there. It's not a mark of failure to leave Silicon Valley. (Hey, I know plenty of really smart people and, statistically, most of them will never get anywhere close to $400,000.) It's a mark of good judgment. San Francisco is just OK, and the rest of the Valley is an overrated, unattractive suburban tract. Sure, the Bay Area has an incredible 3-hour-drive radius... Napa Valley, Big Sur, Yosemite... but, let's be honest, it takes a vacation to really enjoy a place like that and, if you lived elsewhere, the money saved on not paying Bay Area housing costs would easily cover airfare and hotels, anywhere you want to go.