Moving to Wilmington nc. Is this a good salary (Raleigh: HOA, insurance)

[johnbloom99]

Hello all. The wife and I are currently living in Raleigh and possibly making a move to Wilmington. The question I have for anyone is that job is saying an average salary of 60k-70k maybe 75k. Is this a good salary to have there or will it be difficult. Thank you

[hsw55]

If your wife has some sort of income you'd be fine. If not, you can live on it if you don't need alot of luxuries.

[BC1960]

How much do you make now in Raleigh? The only significant difference in the cost of living will be housing, which will be lower in Wilmington, but not massively lower. Everything else will cost pretty much the same.

[cbmt1]

Originally Posted by hsw55

If your wife has some sort of income you'd be fine. If not, you can live on it if you don't need alot of luxuries.

What do you mean a lot of luxuries?? Me and my wife make 70k+

[ditchoc]

Gonna make some guesses here.

70k, net or gross?

Assuming net minus taxes etc .. leaves you about 56k

That is about 4.6k a month.

Assuming housing is about 25% of your budget, a house payment/rental would be about 1.1k a month

A 1.1k a month house payment should buy you about a 250-300k home.

There a lot of homes in the Wilmington area in that price range.

[hsw55]

Let's say 4k a month since you said 60-75 a year. Then you have your 403b or 401k. There goes a couple hundred a paycheck. Then your insurances( health, house, car and w/h), and other bills- water, electric and HOA if you have one. If not your garbage is another bill. That's not including a TV, internet, groceries, beach parking, beer , fishing lures, line, bait all the necessary things.

If your living off your income now in Raleigh and want to try something new go for it. I wasn't looking for a debate just saying a little extra is nice.