[kidyankee764]

Originally Posted by CTartist

I am not romanticizing the "middle class" in CT. What I am doing is trying to point out to the Original Poster who is in the income range of $70,000 to $90,000 that you can indeed live in the Hartford area. This is about numbers/math, not lifestyle.


You are all scaring the people in that income range of $70,000 to $90,000 away from the Hartford & surrounding areas when a large majority is more than likely in that range. The posters on this site need to stop doing that.

Nobody is "scaring" anybody. People here - who are living these scenarios - are providing their own experiences. Additionally, other posters are providing realistic financial breakdowns which show a family with no debt would still be required to live a very frugal lifestyle at $77k per year. This frugal lifestyle doesn't take into account possible debt (which a significant proportion of the population has), emergency financial obligations (which undoubtedly occurs) and misc expenses for extra curricular activities (which can be considered a necessity if your child wants to be involved in anything in 2017).

You're making generalized statements attacking posters who are otherwise providing useful information to the OP, and doing so without any validity behind it. Again - if you want to discuss where I am wrong in my financial breakdown, let's do so. But don't claim I'm wrong without any rebuttal of substance.

You are doing a disservice to anyone coming to this forum with the hopes of raising a family of four on ~70k. Enough of your conjecture.

[Henry10]

Originally Posted by CTartist

I am not romanticizing the "middle class" in CT. What I am doing is trying to point out to the Original Poster who is in the income range of $70,000 to $90,000 that you can indeed live in the Hartford area. This is about numbers/math.


You are all scaring the people in that income range of $70,000 to $90,000 away from the Hartford & surrounding areas when a large majority is more than likely in that range. The posters on this site need to stop doing that.

This slotting of -- "70k to 90k yes, less no" -- this is useless. People's lives are very complex. There are working people who live in NYC with less than $ 50k. Millions.

Kidyankee's breakdown of budget is what's helpful to the OP. If I was the one to make the move, I would listen to F250's and Kidyankee's advice, as well as yours or EastofRiver.

[Stylo]

Originally Posted by CTartist

I am not romanticizing the "middle class" in CT. What I am doing is trying to point out to the Original Poster who is in the income range of $70,000 to $90,000 that you can indeed live in the Hartford area. This is about numbers/math.


You are all scaring the people in that income range of $70,000 to $90,000 away from the Hartford & surrounding areas when a large majority is more than likely in that range. The posters on this site need to stop doing that.

I do agree with this. There's such a spectrum of lifestyles, and living modestly it's totally possible.

I knew families of 4 living on LESS than that in northern FFC. They lived simply, drove 10 year old cars, and had inexpensive condos, but it was possible and they still were able to stash a little away.

[SAE72]

Originally Posted by CTartist

Finally a real life middle class poster in the Hartford area keeping it real.

There are reasonable places to live in Hartford County , for example, a small 3 bedroom one bath house, redone on a 1/3 acre lot, in a quiet safe neighborhood for under $ 150,000. Taxes below $ 3500 a year, city water, city sewers, etc.

[hvexpatinct]

I do volunteer personal finance advising. I once had to help clean up a really ugly mess left by a CHFA advisor who told someone she would be fine in the Danbury area as a family of 4 on $80k with a $315K mortgage, significant student loan debt, and very expensive dietary restrictions. So I always encourage everyone to enter into decision making with eyes wide open and not to minimize the fact that life just happens. Kidyankee gave useful info. The standard budgeting rules apply to everyone and are exponentially more important when you have fewer dollars to work with.

[JayCT]

Please stop the bickering and return to the topic of the OP. JayCT, Moderator

[East of the River]

For a hypothetical how it could work
$70k family of 4 take home after medical taxes and enough to hit a 401 K match might equal a take home of around $4k a month.
(not my actual numbers just an example)
4,000
1,500 mortgage (with taxes and insurance)
140 electric
80 natural gas
65 cable internet
110 two budget cell phones
600 bucks groceries
200 a month gas (this is what I spend a month for two cars include a 50 mile commute in one)
110 car insurance
10 netflix
11 Amazon
200 used car payment
50 car maintenance
75 house maintenance
200 savings
25 car property tax


Which leaves $624.00 for a meal out here and there kids activities and maybe a long weekend in a hotel for vacation. Not living high the horse but not bankrupt either.

To answer the original question my guess is that the conversion rate from one cost of living to the other is about right.

[CTartist]

Originally Posted by sunflowers02

Really? I'm surprised with the average income being $71k (median being $65k).

We live a pretty low key lifestyle, not extravagant spenders - life centers around our kids and husbands work. We would have a substantial deposit worth around 40% of our house purchase price so repayments would be kept low.

Cheers.

"We would have a substantial deposit worth around 40% of our house purchase price"

You all missed this in the OP's original post but as someone who worked in the mortgage department of a bank........I did not.

This is what will allow the OP to live a nice life style on $70,000 to $90,000 in the Hartford area.


https://www.coldwellbankerhomes.com/...d/pid_18004499

So I picked a $300,000 house in Glastonbury* (link above). I hear people say that is a nice town. Mortgage and taxes = $1332 a month with 40% down. The mortgage interest is front loaded in a mortgage so a large part of the mortgage and all of the taxes are deductible at first so that will bring the mortgage down to about $200 dollars less after deductions are realized. (deduction number estimated but I bet I'm close)

$1132 for a monthly mortgage payment after deductions are realized looks like a pretty good life in the Hartford area to me.

Cheers OP

[kidyankee764]

Originally Posted by East of the River

For a hypothetical how it could work
$70k family of 4 take home after medical taxes and enough to hit a 401 K match might equal a take home of around $4k a month.
(not my actual numbers just an example)
4,000
1,500 mortgage (with taxes and insurance)
140 electric
80 natural gas
65 cable internet
110 two budget cell phones
600 bucks groceries
200 a month gas (this is what I spend a month for two cars include a 50 mile commute in one)
110 car insurance
10 netflix
11 Amazon
200 used car payment
50 car maintenance
75 house maintenance
200 savings
25 car property tax


Which leaves $624.00 for a meal out here and there kids activities and maybe a long weekend in a hotel for vacation. Not living high the horse but not bankrupt either.

To answer the original question my guess is that the conversion rate from one cost of living to the other is about right.

Your mortgage amount, gas for vehicles, and car payment figures are unrealistic. Mortgage would have to be closer to 2,000 (unless they're buying a house 200k or under) and gas closer to 300-350, especially with two vehicles. That brings the numbers to about $600 more, so you can forget that meal out or long weekend in a hotel.

[kidyankee764]

Originally Posted by CTartist

"We would have a substantial deposit worth around 40% of our house purchase price"

You all missed this in the OP's original post but as someone who worked in the mortgage department of a bank........I did not.

This is what will allow the OP to live a nice life style on $70,000 to $90,000 in the Hartford area.


https://www.coldwellbankerhomes.com/...d/pid_18004499

So I picked a $300,000 house in Glastonbury* (link above). I hear people say that is a nice town. Mortgage and taxes = $1332 a month with 40% down. The mortgage interest is front loaded in a mortgage so a large part of the mortgage and all of the taxes are deductible at first so that will bring the mortgage down to about $200 dollars less after deductions are realized. (deduction number estimated but I bet I'm close)

$1132 for a monthly mortgage payment after deductions are realized looks like a pretty good life in the Hartford area to me.

Cheers OP

Great for the OP, but your typical family with a HHI of $70k is not going to be able to put 40% down on a home.

Another thing people keep missing is the OP does not actually have a HHI of $77k. They have a HHI of 62k. 77k is what a calculator told them they'd need. All of our figures should be based off a 62k HHI. That's incredibly difficult.