Hillside homes above the water on a sunny summer day in southern Marin

What Does $2 Million Get You in Marin? Honest Advice for Buyers Moving From Out of State

ByMelissa DiVita

By Melissa DiVita, REALTOR®, Compass · DRE #01387955 · Fourth-generation Marin native, in real estate since 2003

The short answer: in Marin, $2 million usually means trade-offs. Close to the Golden Gate Bridge in Corte Madera or Strawberry, it buys a really small house. San Anselmo and parts of San Rafael work, with a longer commute. Novato has the most options and the most space, with a longer commute and warmer weather.

I’ve been talking with a lot of buyers relocating to Marin from out of state lately, and there’s one question that comes up first: what can we get for $2 million?

In 99% of the country, $2 million would give you endless options. In Marin, it’s a different story. It’s hard to get everything on your wish list, especially when you put a hard cap on the price.

I learned this one the hard way

When my husband and I bought our first house here in 2018, he said the same thing: “I don’t want to go over $2 million.” We spent $1,965,000. It was the Paradise Cay house I wrote about in my post on Marin’s microclimates, the one in the path of the afternoon wind. And it had a second problem: it was just too small for a family of five.

There was another house we liked at $2.2 million. If we’d bought that one, we’d probably still be there today, because it was the right size.

Instead, we spent hundreds of thousands of dollars trying to make our house “bigger.” My husband finished the garage completely, with drywall, a window, cabinets, a refrigerator, a wine fridge and an epoxy floor. It was like another room in the house. We built two sheds for all the stuff that would otherwise have been in the garage. And it still wasn’t enough. We sold in 2021 and bought a much bigger house.

So when my clients tell me they want to stay under $2 million, I understand. I also tell them the truth: it’s hard.

Where $2 million can work in Marin

  • Corte Madera and Strawberry: two good options if you want to stay close to the Golden Gate Bridge, with access to Redwood or Tam High depending on the address (see my high school comparison). But at this price, you’re going to be looking at a really small house.
  • San Anselmo: lovely, but a bit more of a commute if you need to get into the city or catch the ferry. For high school, you’d be in the Archie Williams area.
  • San Rafael: has some great pockets that work at this price. The negative: you won’t be in the Redwood High district.
  • Novato: ultimately, this is where you’ll find the most options.

As you work your way north, there are more possibilities and more space, but you trade that for a longer commute and harsher weather. It can be 15 degrees warmer in Novato. (More on that in my Marin microclimates guide.)

Talk to your accountant

Owning a home comes with some tax benefits that a lot of buyers don’t understand at first. Writing off mortgage interest and property taxes can save you a lot in income tax, and that might make stretching to $2.2 million make more sense than it seems. There are limits on how much of each you can deduct, so your accountant can tell you what it means for your situation.

I know that’s a psychological hurdle. It scares people. And honestly, it should give you pause, because it’s a lot of money. But run the real numbers with your accountant before you decide your cap. You can also play with payments on my Marin mortgage calculator.

My advice

Decide what matters most before you start looking: size, commute, schools or being close to the city. At $2 million in Marin, you’ll probably have to pick. And if a house is the right size for your family and it’s a little over your number, think hard before you walk away. I wish we hadn’t.

Quick answers

What does $2 million buy in Marin? Usually a smaller home close to the bridge in Corte Madera or Strawberry, or more space as you move north to San Rafael and Novato, with a longer commute.

Which Marin town gives you the most house for $2 million? Novato has the most options and the most space at this price.

Can you be in the Redwood High district for $2 million? In Corte Madera, yes, but expect a really small house. Strawberry generally feeds Tam High, so confirm the boundary for the exact address. San Anselmo is in the Archie Williams area, and San Rafael is not in the Redwood district.

Relocating to Marin? Send me a note. I’ll tell you honestly what your budget gets you, town by town. And see my Marin towns guide to start exploring.

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