My sister lives in Santa Barbara,she went to school there,UCSB she got married there she got divorced there.
She is still a party person and loves the town,beach volleyball and her kids surf it does have very nice beaches.
It's expensive there to say the least.
All that being said I would choose Lake Tahoe for no other reason than I get sick of going back to Ca. to visit (trying not to sound like BTJ here as my wife is half Mexican)and the damn see habla:lol:
Reno area is very low cost of living though Reno is a dump if you buy up towards Mt. Rose or over the pass Incline Village way your in God's country.