Anyone ever move back from PA TO NJ? (Springfield: loans, house) - Page 2 - City-Data Forum

bradykp · 12-05-2011, 01:58 PM

what would change moving to NJ though? Is it about access to entertainment? Are you in too "rural" of an area? Bethlehem has a lot going on too, so I can't imagine it's boredom. Even a pretty good selection of theater at Lehigh's Zoellner Arts theater...

suzsaz · 12-05-2011, 02:05 PM

We were just in Bethlehem the other night visiting son in Grad School. I can't believe how much has changed (for the better) between when he started his undergraduate out there years ago, and how it is now.

Granted, I don't live there, but Bethlehem is doing a great job in reinventing itself. Looks really good. That might not make the OP feel better, but it's truly looking good out there!

judyr908 · 12-05-2011, 02:29 PM

Thanks all! I think I didn't really express myself or the question the correct way. It's more a financial question. It is very lovely out here and we are very much in love, happy with 4 children age 26 to 2 1/2. The two youngest are adopted from China. We are both 48 and have been married 27 years. So let me ask this in a better way for all you smart financial friends of mine.....

We paid 438,000 in 07 for the house and have 165,000 mortgage on it. We Also have 150,000 in IRA/Savings along with a successful business that bring in around 80,000 year. Own a commercial property in NJ that houses that business, which is paid for and worth around 100,000. We can either rent it out when we retire or sell it. But......we took out 150,000 in a LOC which is down to 147,000 for the second business. The business was making the payment each month for us. Now that it is closed we have to make it. Hubbie plans to increase his salary to cover it each month which is 1000 a month. Plus we own another 50,000. Our house is now worth around 365,000 which will pay off both mortgages and the 50,000, and be debt free. I would than buy something for 200,000 which would then give us a cash flow of 2000 a month to save. Would I be better doing that or just staying in the house and paying off the LOC here when I'm not sure I love it here?

PDD · 12-05-2011, 02:36 PM

Quote:

Originally Posted by judyr908

Thanks all! I think I didn't really express myself or the question the correct way. It's more a financial question. It is very lovely out here and we are very much in love, happy with 4 children age 26 to 2 1/2. The two youngest are adopted from China. We are both 48 and have been married 27 years. So let me ask this in a better way for all you smart financial friends of mine.....

We paid 438,000 in 07 for the house and have 165,000 mortgage on it. We Also have 150,000 in IRA/Savings along with a successful business that bring in around 80,000 year. Own a commercial property in NJ that houses that business, which is paid for and worth around 100,000. We can either rent it out when we retire or sell it. But......we took out 150,000 in a LOC which is down to 147,000 for the second business. The business was making the payment each month for us. Now that it is closed we have to make it. Hubbie plans to increase his salary to cover it each month which is 1000 a month. Plus we own another 50,000. Our house is now worth around 365,000 which will pay off both mortgages and the 50,000, and be debt free. I would than buy something for 200,000 which would then give us a cash flow of 2000 a month to save. Would I be better doing that or just staying in the house and paying off the LOC here when I'm not sure I love it here?

Those question should only be answered by your accountant and since you own your own business I am sure you have one.
If you not sure you love it there only you can answer that question.

BobKovacs · 12-06-2011, 08:40 AM

Quote:

Originally Posted by judyr908

I would than buy something for 200,000 which would then give us a cash flow of 2000 a month to save. Would I be better doing that or just staying in the house and paying off the LOC here when I'm not sure I love it here?

I think the big question is, where do you expect to buy something in NJ for $200k that you'd be happy (and safe) living in???

manderly6 · 12-06-2011, 08:55 AM

Quote:

Originally Posted by BobKovacs

I think the big question is, where do you expect to buy something in NJ for $200k that you'd be happy (and safe) living in???

South Jersey would be possible. But that may be a longer commute to what they have now.

BobKovacs · 12-06-2011, 10:04 AM

Quote:

Originally Posted by manderly6

South Jersey would be possible. But that may be a longer commute to what they have now.

I realize that. I was going under the presumption that they'd want to reduce the commute that they currently have, otherwise it's a pointless exercise.

marye711 · 12-06-2011, 10:06 AM

I did, and it worked out better for us. There are alot of houses in Sussex in the $200k range, some close to brand new.

tahiti · 12-06-2011, 11:18 AM

Quote:

Originally Posted by BobKovacs

I realize that. I was going under the presumption that they'd want to reduce the commute that they currently have, otherwise it's a pointless exercise.

I'm with you. Plus OP said where she is now is "More rural than I would like." Anything $200K in NJ would be more "rural" than the ABE area (which I don't consider particularly rural, but YMMV).

BobKovacs · 12-06-2011, 11:25 AM

Quote:

Originally Posted by tahiti

I'm with you. Plus OP said where she is now is "More rural than I would like." Anything $200K in NJ would be more "rural" than the ABE area (which I don't consider particularly rural, but YMMV).

Hey now- stop that! I thought we were supposed to disagree about everything around here???