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I think that you'll do just fine in NH if you have enough seed money to keep your mortgage payments low and only have business expenses and the house property taxes to deal with.
My boyfriend and I are planning to pay down our mortgage sooner than scheduled and add some income streams to our property. As we replace our roofs, we're going with metal ones since they'll last the longest. For winter heating, we'll eventually go with pellet stoves and go for geo-thermal. The high property taxes are our only worries for living in NH for the long haul.
If we moved there, we would be doing the same thing with regards to getting as debt free as possible and only having to worry about basic cost of living and property taxes. We looked up property taxes of homes value of $300K in both NH and Maine and then added 8.5% income taxes on our income and added that to the Maine property tax it came out to be about the same with maybe a thousand dollar difference in savings in NH in cheaper areas. This is not exact science because even COL calculators differ depending on what source you use and we didn't factor in utilities, etc. But I thought it was interesting to share that if you only factor the cost of property taxes and income taxes that it could cost less or more depending on your property value and your income tax rate. I only did this for a few towns in Maine and in NH not MA. You are closer than us so I'm sure you have a better idea than us and would probably be better prepared. Moving across the continent is so scary.
I agree about women here not going to nail salons all that often, if they do. I see it in the people around and you don't see many manicured hands. BTW, there are nail salons in Durham, at least 2. More in Portsmouth, Exeter, Dover, Epping, Newington. And that's without counting the ones inside spas or hair salons. When I walk past them, I usually only see a client or two.
I used to live in NJ and there were several nail salons around and all were busy. It's very different here.
I would agree that NH women tend to be more frugal and either keep their nails clipped short without polish or have what appears to be home polish on their nails. I would also agree with Aptor Hours in regards to looking at the Lebanon/Hanover area. There is a distinct difference in attire when you drive through Hanover. Women seemed to be more dressed up and polished. Disclaimer: I haven't polished my fingernails in probably 10 years and I prefer hiking boots to heels.
NH businesses do not always have an online presence so it is hard to know how many nail salons are in a given location without exploring the area on the ground. Once you get north of Concord, the population density is much lower. I don't know how many customers need to come through your store each day for you to make a profit. The Lebanon area feels larger than its population as a number of people travel from more rural areas for shopping. I cannot give you any input on Durham or that area as I really try to avoid going south of Concord. I find I cannot deal with more than 2 lanes of traffic anymore, lol. Good luck in whatever you end up doing.
I agree about women here not going to nail salons all that often, if they do. I see it in the people around and you don't see many manicured hands. BTW, there are nail salons in Durham, at least 2. More in Portsmouth, Exeter, Dover, Epping, Newington. And that's without counting the ones inside spas or hair salons. When I walk past them, I usually only see a client or two.
I used to live in NJ and there were several nail salons around and all were busy. It's very different here.
Thank you for the comparison. The misconception about Alaska women is that they are "rugged". Although, Alaskan women fish and hunt, they also get their nails done and hairs highlighted so that is why I didn't assume NH women didn't get their nails done. We will check out the areas we are interested in living and will look at the benefits of both a salon and a clothing store.
I would agree that NH women tend to be more frugal and either keep their nails clipped short without polish or have what appears to be home polish on their nails. I would also agree with Aptor Hours in regards to looking at the Lebanon/Hanover area. There is a distinct difference in attire when you drive through Hanover. Women seemed to be more dressed up and polished. Disclaimer: I haven't polished my fingernails in probably 10 years and I prefer hiking boots to heels.
NH businesses do not always have an online presence so it is hard to know how many nail salons are in a given location without exploring the area on the ground. Once you get north of Concord, the population density is much lower. I don't know how many customers need to come through your store each day for you to make a profit. The Lebanon area feels larger than its population as a number of people travel from more rural areas for shopping. I cannot give you any input on Durham or that area as I really try to avoid going south of Concord. I find I cannot deal with more than 2 lanes of traffic anymore, lol. Good luck in whatever you end up doing.
Your post was very informative! Thank you for your insight on the Hanover area, that makes a lot of sense. LOL on your disclaimer!
You do realize that you don't need to live right in the same town or city that you set up your nail salon business in? You can have a nail salon business in a more high traffic area and then live a town or two away and raise your family in a small town setting. Our cities and towns aren't as spread out geographically as in your Alaska. There's quite a difference in land mass between the two states.
You do realize that you don't need to live right in the same town or city that you set up your nail salon business in? You can have a nail salon business in a more high traffic area and then live a town or two away and raise your family in a small town setting. Our cities and towns aren't as spread out geographically as in your Alaska. There's quite a difference in land mass between the two states.
Good point! Thanks miu. Although a salon is the easiest of the business we are choosing between, it is skilled work and help is hard to come by. As for the clothing store, we hate the shrinkage problems associated with a retail store and it would require a lot of traveling for us (fashion shows, conventions, etc). We might just end up doing a coffee shop instead. I just don't like the super early hours, at least until I can train baristas to make coffee to my exact specifications.
Anyways, thanks to you and to everyone who has chimed in on this thread.
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