[nep321]

I have been presented with a possible opportunity in Milford. The job sounds great and my salary would be increased from $67K to around $80K, along with a promotion in my field. But I am concerned that the increase in cost of living down there may not be enough to warrant the acceptance of a higher salary. What are your opinions on this? Is it better to live near Berlin and make $67K or is it better to live near Milford and make $80K? I am honestly not that familiar with coastal New Haven county in general. I mean, I'm not going to stay in Middletown if I take this job.

For example, I would rather make $65K in Hartford than make $80K in Stamford, because the cost of living in Stamford area is much higher than Hartford.

So what about Milford?

Thanks

[willow wind]

I think your cost of living is basically only going to be concerned with the cost of renting an apartment and the cost of buying house. I don't see there being that much difference in car insurance rates, utilities, shopping, entertainment, etc.

Rents may be somewhat/slightly higher than Middletown. Single family housing for sure will be much higher. You're not going to find the home you want with a private back yard and no near side neighbors in the $ 160-180,000 range you were looking at in any shoreline town. Even a small, done over, starter home is going to put you into the $250,000 range at a very minimum in my opinion. And it won't be really what you want.
( no land)

On the other hand, you would probably be able to pay off a school loan a lot faster. Once that's taken care, the extra could contribute to savings, investments.

Me, I'd probably jump at it because I like living near the Sound. However, I'm not you. Difficult decision on your part I'm sure. Good luck

[JayCT]

Milford is not nearly as high priced as Stamford and except for your apartment costs, everything else will be about the same. Your gross income will go up about 20% or around $1,000 per month. I doubt that would be eaten up by an increase in rent. Of course you could stay where you live now (Middletown area, right?) and commute to Milford. Depending where the job is, it should not be too bad.

On the other hand, you have been talking about buying a home and home prices are significantly higher in Milford. I know you were struggling finding a place you liked in the Hartford area, but it would be even more difficult to find something in the Milford area even with your raise. Also note that the towns around Milford are pretty built up and you had mentioned wanting to be in a more rural or larger lot area. They are generally pretty expensive along the coast. Good luck, Jay

[Stylo]

You could live in less expensive towns with a very reasonable commute to Milford if you ever decide to buy. For instance, Derby, Seymour, Ansonia et al are quite a bit less expensive than Milford for buying.

Rent wise, you're not looking at a big increase and your salary more than makes up for it.

I would take it, it'll be better for you in the long run career wise and you'll like the area.

[nep321]

Originally Posted by JayCT

Milford is not nearly as high priced as Stamford and except for your apartment costs, everything else will be about the same. Your gross income will go up about 20% or around $1,000 per month. I doubt that would be eaten up by an increase in rent. Of course you could stay where you live now (Middletown area, right?) and commute to Milford. Depending where the job is, it should not be too bad.

On the other hand, you have been talking about buying a home and home prices are significantly higher in Milford. I know you were struggling finding a place you liked in the Hartford area, but it would be even more difficult to find something in the Milford area even with your raise. Also note that the towns around Milford are pretty built up and you had mentioned wanting to be in a more rural or larger lot area. They are generally pretty expensive along the coast. Good luck, Jay

Yeah I live in Middletown right now. The job in Milford would be in the northern section, right next to Route 15. So it's about 35-40 min from here. However, with the salary increase, I could increase my home purchase price to around $210K instead of $180K.

[mlassoff]

You'd be crazy not to take it.

When the opportunity to move up the corporate ladder presents itself, hang on tight! There aren't many opportunities in this economy to get a 17% raise and a promotion. It will also be a lot easier to move in to 100K territory from this new opportunity than the one you have now.

If you are serious about eventually having your little house on a a nice piece of property, you need to do this.

[nep321]

Originally Posted by mlassoff

You'd be crazy not to take it.

When the opportunity to move up the corporate ladder presents itself, hang on tight! There aren't many opportunities in this economy to get a 17% raise and a promotion. It will also be a lot easier to move in to 100K territory from this new opportunity than the one you have now.

If you are serious about eventually having your little house on a a nice piece of property, you need to do this.

Lol, good point. Well, hopefully I'll hear back from the recruiter soon.

[JayCT]

I agree with mlassoff. You should most likely accept this opportunity as long as you are sure it is with a stable company and a step in the right direction for your career. Commuting to the north end of Milford will be fairly easy from Middletown since you really do not go through any major cities.

As for the home purchase, the Milford area is pricer than central Connecticut. You could now look into what is available in towns like Wallingford and North Haven but again I doubt it will be better than what you are seeing in towns like Middletown or Newington. Jay

[nep321]

Originally Posted by JayCT

I agree with mlassoff. You should most likely accept this opportunity as long as you are sure it is with a stable company and a step in the right direction for your career. Commuting to the north end of Milford will be fairly easy from Middletown since you really do not go through any major cities.

As for the home purchase, the Milford area is pricer than central Connecticut. You could now look into what is available in towns like Wallingford and North Haven but again I doubt it will be better than what you are seeing in towns like Middletown or Newington. Jay

It seems like there are plenty of options in Ansonia, Derby, Stratford, East Haven, West Haven, Milford, Hamden, Shelton, Seymour and Naugatuck, for under $210K. I know some of those towns are not that desirable, but oh well, at least there seems to be more of a breadth of options than I thought. And there seems to be some rural towns that I would be able to think about later on down the road, such as Weston, Easton and Bethany. But that's for when I make $150K someday

[Stylo]

Try $250k for Weston.

The difference in home prices between Weston and Bethany is huge.