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My wife is from NH and we (wife, myself, 8 month old, 2 dogs) are considering moving to NH. We haven't picked a town yet but are looking at rye, portsmouth, exiter, newfields, dover, etc.
I recently lost my 2nd career in LV over the past 6 years. I now have an opportunity to work for her families sheet metal company in NH. I would be able to make around 30.00 per hour after 4 years. She is a massage therapist.
I am asking for some outside opinions on my current situation.
Here are the PROS and CONS I can think of:
PROs of moving to NH -
A career with my families company.
Closer to her family.
Better school for my son.
Less crime.
More culture.
Fenway park.
No 120 degree heat.
Less transient people.
She has wanted to move for 5+ years. Happy Wife.
CONs of moving to NH.
No free daycare.
Home taxes are higher.
We would have to short sale our house which kills your credit for 1.5 years.
(If we do not short sale the house this year, a new law comes into effect in 2013 which would cause us to pay 10k or more in taxes if we sold it then. We are upside down 90k so selling the house for a profit will probably never happen.)
When we buy another home its like 100 years old.
Moving away from my family and friends.
Winter.
Bugs.
Cost of living may be higher?
Its going to cost a lot to relocate.
These are just a few things to consider. Thanks for any advice and I will try to answer any questions that come up.
I can see it's a tough call. Are you saying that you wouldn't need to short sale your house if you stayed in Nevada? Or, would this law you mention force that action anyway? Upside down 90K is a huge factor, but it sounds like a factor whether or not you move to NH, so I'm not sure if it should stay on the Con list.
I can see it's a tough call. Are you saying that you wouldn't need to short sale your house if you stayed in Nevada? Or, would this law you mention force that action anyway? Upside down 90K is a huge factor, but it sounds like a factor whether or not you move to NH, so I'm not sure if it should stay on the Con list.
If we do it now we hurt our credit. If we do it later we hurt our credit and then owe 10k or more in taxes the next year. We do not have to short sale the home to stay in Nevada, however if a move is in the future then doing it later will cost us significantly more.
My wife is from NH and we (wife, myself, 8 month old, 2 dogs) are considering moving to NH. We haven't picked a town yet but are looking at rye, portsmouth, exiter, newfields, dover, etc.
I recently lost my 2nd career in LV over the past 6 years. I now have an opportunity to work for her families sheet metal company in NH. I would be able to make around 30.00 per hour after 4 years. She is a massage therapist.
I am asking for some outside opinions on my current situation.
Here are the PROS and CONS I can think of:
PROs of moving to NH -
A career with my families company.
Closer to her family.
Better school for my son.
Less crime.
More culture.
Fenway park.
No 120 degree heat.
Less transient people.
She has wanted to move for 5+ years. Happy Wife.
CONs of moving to NH.
No free daycare.
Home taxes are higher.
We would have to short sale our house which kills your credit for 1.5 years.
(If we do not short sale the house this year, a new law comes into effect in 2013 which would cause us to pay 10k or more in taxes if we sold it then. We are upside down 90k so selling the house for a profit will probably never happen.)
When we buy another home its like 100 years old.
Moving away from my family and friends.
Winter.
Bugs.
Cost of living may be higher?
Its going to cost a lot to relocate.
These are just a few things to consider. Thanks for any advice and I will try to answer any questions that come up.
Weather is going to be a lot colder/snow than LV. You may suck at sheet metal work/hate the job/hate working for the family/they may resent hiring you and not being able to fire you. Plenty of newer than 100 year old real estate in NH.
The family job is the shaky point in your equation.....everythign else can be worked out.
You might want to re-check on the home sale tax for 2013. My understanding is that it only applies to a second home and not your primary residence.
Are you aware that the home property tax varies by city. Some cities are very high and others are not so much. Further, you should look at the states school rating site as some school districts are superb and others are not so much.
Short sales are no honeymoon, prepare to jump thru hoops and then be drawn and quartered. Don't believe it when they tell you that your credit will clear after 1 and 1/2 years.
Finally, if you are a skier you will love the winters, But I'm a shoveler..........
Property taxes are higher than most states, yes, but in many cases, no state income tax and no sales tax will off-set that cost. I can honestly say that I don't mind the higher property taxes.... I know exactly how much the state will get from me each year (well, almost... NH does have taxes on restaurants and hotels...), whereas when we lived in NJ, we paid significantly more in property tax (besides the point), but then you had state income tax (we could calculate at least approx.) and then sales tax (which is darn near impossible to calculate... unless you book keep every single thing you buy, which most people won't do...)
There really isn't enough bandwidth here to go thru all the reasons...cost of living and rude people the primary reasons. Of course; most of the people that move here are from NY, NJ, and California, so you are essentially just playing '3-card monty' with your living situation. That is why the 'old time' NH residents have left.
Property taxes are higher than most states, yes, but in many cases, no state income tax and no sales tax will off-set that cost. I can honestly say that I don't mind the higher property taxes.... I know exactly how much the state will get from me each year (well, almost... NH does have taxes on restaurants and hotels...), whereas when we lived in NJ, we paid significantly more in property tax (besides the point), but then you had state income tax (we could calculate at least approx.) and then sales tax (which is darn near impossible to calculate... unless you book keep every single thing you buy, which most people won't do...)
According to a recent article in Forbes; NH's Merrimack County has the 19th HIGHEST property taxes in America...all the other counties higher on the list are in NY and NJ (of course). I notice you use the word 'offset'...you're exactly right...you are just stepping sideways, expense-wise. When you roll in the tolls and car registration taxes (hundreds to register a car, then there are inspection fees, and expenses that are incurred when they 'find' something), you are NOT going to save money. Then there is heating oil...unless you enjoy chopping wood.
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