You should rent in the Palo Alto area until have some time to check this out. After you live in the Palo Alto area for a while, you may find that living in Discovery Bay is less appealing. You have 2 years to make a decision where to buy. In the meantime, you will find some rental housing options that would be less than your mortgage payment and the resale market will be soft this year. Don't feel pressured to buy in a remote location quickly.