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Hey! My husband is considering a company transfer to Duluth and if it works out we will be down to one income of a min 55k. My question is, can we afford a decent home in that area? (would prefer to buy not rent and would be fairly debt free other than home and car) I have noticed that the homes below 100k are more towards Sugar Hill, Cumming, Buford, Lawrenceville areas. Will those areas provide a less than 30 min commute?
I'm hoping to hear from anyone living that lifestyle. We have always been a two income family that doesn't pay super close attention to our money (sad but true) so I'm a bit concerned. We have two daughters 10 and 4 and schools are not a huge issue for me. My girls are bright and I think could excel anywhere. A safe school would be my bigger concern! Moving from Central Illinois and would not know a soul....so any comments would be very much appreciated! Even though it may not read that way I am excited as well!
Hey! My husband is considering a company transfer to Duluth and if it works out we will be down to one income of a min 55k. My question is, can we afford a decent home in that area? (would prefer to buy not rent and would be fairly debt free other than home and car) I have noticed that the homes below 100k are more towards Sugar Hill, Cumming, Buford, Lawrenceville areas. Will those areas provide a less than 30 min commute?
I'm hoping to hear from anyone living that lifestyle. We have always been a two income family that doesn't pay super close attention to our money (sad but true) so I'm a bit concerned. We have two daughters 10 and 4 and schools are not a huge issue for me. My girls are bright and I think could excel anywhere. A safe school would be my bigger concern! Moving from Central Illinois and would not know a soul....so any comments would be very much appreciated! Even though it may not read that way I am excited as well!
You will have a challenge, jmo. Maybe Dacula and further north?
I really don't know. You need to be very concerned about schools--at least I would be.
It can be done but the biggest challenge will be living on a budget if you played loose with your money before. Getting rid of the car payment would makes things so much easier and of course no matter where you buy the house the bigger the house the more expensive it will be to mainintain, heat, cool etc.
Most people on here will probably tell you no but its really about whats important to you and how you budget your money.
While you may prefer to buy, in cases like this renting might be the better alternative. You won't have to worry about taxes, major repair bills, etc when renting a house/apartment like you would with a house, and these things add up to $$ over time. While apartment living isn't everyone's ideal situation, you save tons on maintenance costs, lower utilities (compared to homes), and insurance (typical renters insurance = $25 a month). Rental homes can still save you the money over a mortgage but you have to make sure you read the fine print over what the landlord will and will not cover as part of the rent.
Driving a high MPG car, using prepaid cell phones instead of expensive contract phones, curtailing the urge to eat out a lot, etc will help you to live within that budget, so it's doable.
Thank you for your input every little bit helps in the decision process. I know Dacula is an hour from his potential work place even at 10:30am so I think that is way to far.
You did say his transfer would be to Duluth, right?
We live in Dacula and my husband drives to Discover Mills mall every morning (in Duluth to catch the park and ride bus) and it takes him about 20-30 minutes max during rush.
We do it in Dunwoody, but we are very low-maintenance people. We chose Dunwoody because my husband works in Chamblee and he wanted a short commute. We have two cars, but my husband's is paid off. We bought both of them used (We buy good cars, but never buy new). Mine is a 2004 Honda Odyssey, he drives a 1998 Acura. We put a lot down on our house so our mortgage is low. It takes discipline and you have to give up a lot of things: shopping, dinners out, movies, etc... We eat almost every meal at home and I'm a fanatic about coupons and asking for discounts (Yes, people will give you discounts for things like paying cash, or for even minor blemishes. I got 25% a shirt for my son for a missing button.)
$55k will be TOUGH...I agree that renting instead of buying may make sense. Odds are you would be buying a pretty cheap house with existing issues, and all it takes is a couple bad issues and you are screwed financially. The hidden costs of home ownership can be staggering at times...they don't necessarily show up in your set budget, but when they appear it can be brutal and usually at the worst possible time!
His work is on Johns Creek Parkway which looks to me more like Alpharetta! He knows a gal who works there and lives in Dacula she say that it takes her an hour even at 10:30am. There seems to be a ton of forclosures down there so finding a decent home for less money should be fairly easy but I know that can be a pain as far as bidding and loaning. Yes, homes with a fair amout of "projects" are a financial concern. I work in the construction industry and we built a 1500sf addition on our own so they don't scare me a bit but I won't be able to pay for them!!!
My aversion to renting comes from the fact that relocation is totally paid for by his company and I don't want to have to pay to relocate a year later to a home! Otherwise I think that is a very wise idea not just from a money standpoint but also from a "what if it doesn't work out now we have to sell a house in a bad market" stand point.
Thank you Roslyn!! That is encouraging. I'm not ruling out working part time somewhere while the kids are school and that would help in a pinch.
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