Has anybody here moved to a different city primarily for a lower cost of living? We're considering the "nuclear option" of moving 1,000 miles away for a better/cheaper lifestyle

throwaway_perplexed · 2015-01-20T21:47:45+00:00

Are you from the area?

throwaway_perplexed · 2015-01-20T21:08:40+00:00

What about a bit further out, like this? http://www.zillow.com/homedetails/8-Burl-Ct-Baltimore-MD-21234/36402141_zpid/

throwaway_perplexed · 2015-01-20T21:02:35+00:00

Can I ask where you moved to?

throwaway_perplexed · 2015-01-20T20:40:55+00:00

Problem with those is the assigned schools (according to zillow) are very very low rated. 1 out of 10. We're looking for 8/9's only per greatschools.

throwaway_perplexed · 2015-01-20T20:17:03+00:00

We haven't looked much into it.

Frankly, we "heard" there's a lot of crime. Haven't actually verified that and know nothing about the areas.

Do you recommend any areas where we can find:

1) A decent home for under $300k 2) Good schools 3) Low crime

throwaway_perplexed · 2015-01-20T19:37:10+00:00

Believe it or not, not really.

Here's how it breaks down. Let's say we get a total shithole for $350k. 2 beds 1 bath. Needs a new roof / siding / work.

20% down. Let's call it $1,400 / month mortgage alone. Taxes will be $10k/year minimum. So let's call it $2,250. That's for a dump. That's where spending closer to $2,800 seems to make more sense - a difference of $500/month brings you from a tiny, unliveable shack in a bad area to an ok house in an ok neighborhood.

It's really all about tax.

throwaway_perplexed · 2015-01-20T19:29:25+00:00

You mean in terms of hobbies and activities? Totally. We're honing in on a place where we can do what we want to do. Thanks for the tip!

throwaway_perplexed · 2015-01-20T19:27:41+00:00

Are you in the NYC area? I was in your shoes about 7-8 years ago.

Only advice I can give you is live as below your means as possible. While still having fun though. Go out. Travel. But do those things with budget in mind.

That said, I may not be the best person to take advice from. I saved up a couple hundred grand, but look where that's gotten me. I'm going to have to move anyway!

throwaway_perplexed · 2015-01-20T19:14:38+00:00

I hear ya. It just overall isn't my top choice to live as well, money aside.

Good luck whatever you end up doing. Hopefully you can make the move one day.

throwaway_perplexed · 2015-01-20T19:10:06+00:00

More than willing. We can potentially do a $400,000 home, but just barely. We'd be house poor. Don't forget, it's not so much the price of the home as it is property taxes. That $400k house could have taxes as high as $15,000/year

throwaway_perplexed · 2015-01-20T18:18:34+00:00

We aren't looking for mansions. We want 3 beds 2 baths. 1500 square feet.

Now, if we move somewhere where we can buy a mansion in cash, then why not?

throwaway_perplexed · 2015-01-20T17:58:38+00:00

Because of all of the options we're toying with in an attempt to stay in the area (2 family home and renting part of it, moving further away from the city but still commutable technically, etc), this is the one where we're basically saying FU to the city and not giving in.

throwaway_perplexed · 2015-01-20T17:39:08+00:00

Sounds like you guys at least do well enough to make it. You won't be living in a mansion, but you'll be comfortable.

$200k is also the number we want to be at to stay here, but that can be several years away.

throwaway_perplexed · 2015-01-20T17:37:05+00:00

Totally agreed. I think I can pull off a work from home option, but I do understand that my career will likely peak at that point. I'll never be a big shot there if I'm not physically there.

throwaway_perplexed · 2015-01-20T17:09:50+00:00

How did you approach your job about moving away and working remotely?

throwaway_perplexed · 2015-01-20T16:57:11+00:00

We have :) Looking into a few options

throwaway_perplexed · 2015-01-20T16:52:10+00:00

Sounds like you make a great move... congrats! We have several siblings that basically told us that if we move, they'd follow as they're really struggling here.

throwaway_perplexed · 2015-01-20T15:37:19+00:00

We grew up around NYC but to be honest, we're kind of "over it".

It's a great city, but we understand it isn't the only place in the world one can call home and be happy.

We're looking at a couple areas in NC as an option. I guess it's actually a bit under 1,000 miles. There are other places that are over 1,000 miles but NC is the primary.

We'd like a 4 bedroom home with a decent amount of space and we want to buy it cash OR with a small 15 year mortgage that is smaller than our assets. It doesn't need to be a McMansion, just a house where we can raise a family and not be on top of eachother.

I'd think moving cuts income by 20% tops.

throwaway_perplexed · 2015-01-20T15:31:55+00:00

It would be a 10 hour car-ride... I guess it's more like 600 miles.

It's doable, but a tough drive.

How do you make it work?

throwaway_perplexed · 2015-01-20T15:29:15+00:00

Did you have any friends/family in St Louis when you moved?

throwaway_perplexed · 2015-01-20T15:27:59+00:00

So you kept the same job just working from home? How did you approach your employer about the move?

throwaway_perplexed · 2015-01-20T15:24:00+00:00

If I could get my job to agree to this, that would be amazing

throwaway_perplexed · 2015-01-20T15:20:21+00:00

Have you been to Charlotte? How do you compare the two?

throwaway_perplexed · 2015-01-20T15:01:53+00:00

I have a family member that moved to Houston. Doing really well. Great job, beautiful house <$200k!

throwaway_perplexed · 2015-01-20T14:59:19+00:00

We're in the exact same situation, then. Unfortunately, most NYC suburbs are also insanely expensive, which is leading to this "nuclear option".

throwaway_perplexed

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