Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My husband and I currently live at the northern most tip of Fairfield county, CT. He works in the financial district. He landed the job this summer, and the $550 a mo. and 2.5 hr commute is killing all of us. I am a SAHM and we have 3 young children (1,3 and 5). My husband and I have always wanted to live in Manhattan (we do have some experience living in cities - L.A, Boston - but childless) and figure now would be a good time to at least visit the option.
The thing is, we have been over the expenses of moving from the suburbs to NYC time and time again, and the numbers show us the expenses would almost be the same. It seems we could actually save more money by not having to pay for the typical suburban expenses like gas for our vehicles, home repairs/upkeep, heating oil, etc etc. This honestly sounds too good to be true, so I wanted some unbiased outside input on our situation. Warning: this may be long.
We bought our house almost 4.5 yrs ago. We hate it here. We miss living in the city or the CT beach towns we used to reside in. DH used to work closer to home (about 45 min-1 hr) so there wasn't too much of a rush to move - especially since his old job cut his salary without notice and couldn't we afford much else. So we were pretty much stuck.
Now this new job is a really good one with excellent pay and benefits. His salary is $125,000/yr. He gets yearly bonuses which would bring his total compensation would be $140,000/yr. He recently found out that after January his department is moving to Jersey City - so that will tack on more money and time to his commute. This is what has prompted us to seriously consider moving to Mahattan.
We thought about renting in southern fairfield co. (Fairfield, Greenwich, etc) but the commute would still be over $350/mo and 1.5 hrs long. Not to mention rent -though a little cheaper than NYC- is still pricey there and we'd still need our car. We have also thought about Westchester County, but we used to live there years ago pre-children (White Plains) and it too is pricey, still a sizeable commute, more car dependant, and honestly just have no desire to live there again. We also do not want to live in any of the other NYC boroughs. If we can't do Manhattan we will not move there.
This is our plan about moving to the city:
-For reference, currently our mortgage is $2300/mo.
-So far we are thinking next summer is a good time to move (Our oldest son will be done with kindergarten and ready to start 1st grade).
-We will have paid off our debt and saved some money.
-We plan to look at UWS and UES. We are researching the public schools, have heard about all the hassles, issues, etc, and will look for areas in good public school zones (we have no desire to go the private school route).
-We realize apartments are tiny in the city, but we are okay with that. We would look for 2 or 3 bedrooms, with a limit around $4000/mo.
-We'd get rid of our car, which right now is $600/mo if you add the payment and insurance togther. If we need to travel out of the city (which would be maybe once a month) we'd use the train or Zipcar.
-We'd let our sitter go (which we only recently hired due to DH's long hours away from home, which would not be an issue in the city). We pay her $20/hr and she is here from 9 - 13 hrs a week. That would save us more than $700/mo.
- Of course, we'd save almost $600/mo due to no more long commute to the 'burbs.
We don't spend a lot of money, we're pretty frugal, always have been. We don't eat out all the time and don't feel the need to keep up with the Joneses.
Does this sound doable to you? It just seems very possible for us to pull it off, and I need someone to set me straight with the reality of it all. What am I forgetting? Also, if you have experience with living in the city with kids, that would be great!
My husband and I currently live at the northern most tip of Fairfield county, CT. He works in the financial district. He landed the job this summer, and the $550 a mo. and 2.5 hr commute is killing all of us. I am a SAHM and we have 3 young children (1,3 and 5). My husband and I have always wanted to live in Manhattan (we do have some experience living in cities - L.A, Boston - but childless) and figure now would be a good time to at least visit the option.
The thing is, we have been over the expenses of moving from the suburbs to NYC time and time again, and the numbers show us the expenses would almost be the same. It seems we could actually save more money by not having to pay for the typical suburban expenses like gas for our vehicles, home repairs/upkeep, heating oil, etc etc. This honestly sounds too good to be true, so I wanted some unbiased outside input on our situation. Warning: this may be long.
We bought our house almost 4.5 yrs ago. We hate it here. We miss living in the city or the CT beach towns we used to reside in. DH used to work closer to home (about 45 min-1 hr) so there wasn't too much of a rush to move - especially since his old job cut his salary without notice and couldn't we afford much else. So we were pretty much stuck.
Now this new job is a really good one with excellent pay and benefits. His salary is $125,000/yr. He gets yearly bonuses which would bring his total compensation would be $140,000/yr. He recently found out that after January his department is moving to Jersey City - so that will tack on more money and time to his commute. This is what has prompted us to seriously consider moving to Mahattan.
We thought about renting in southern fairfield co. (Fairfield, Greenwich, etc) but the commute would still be over $350/mo and 1.5 hrs long. Not to mention rent -though a little cheaper than NYC- is still pricey there and we'd still need our car. We have also thought about Westchester County, but we used to live there years ago pre-children (White Plains) and it too is pricey, still a sizeable commute, more car dependant, and honestly just have no desire to live there again. We also do not want to live in any of the other NYC boroughs. If we can't do Manhattan we will not move there.
This is our plan about moving to the city:
-For reference, currently our mortgage is $2300/mo.
-So far we are thinking next summer is a good time to move (Our oldest son will be done with kindergarten and ready to start 1st grade).
-We will have paid off our debt and saved some money.
-We plan to look at UWS and UES. We are researching the public schools, have heard about all the hassles, issues, etc, and will look for areas in good public school zones (we have no desire to go the private school route).
-We realize apartments are tiny in the city, but we are okay with that. We would look for 2 or 3 bedrooms, with a limit around $4000/mo.
-We'd get rid of our car, which right now is $600/mo if you add the payment and insurance togther. If we need to travel out of the city (which would be maybe once a month) we'd use the train or Zipcar.
-We'd let our sitter go (which we only recently hired due to DH's long hours away from home, which would not be an issue in the city). We pay her $20/hr and she is here from 9 - 13 hrs a week. That would save us more than $700/mo.
- Of course, we'd save almost $600/mo due to no more long commute to the 'burbs.
We don't spend a lot of money, we're pretty frugal, always have been. We don't eat out all the time and don't feel the need to keep up with the Joneses.
Does this sound doable to you? It just seems very possible for us to pull it off, and I need someone to set me straight with the reality of it all. What am I forgetting? Also, if you have experience with living in the city with kids, that would be great!
If your husband's job will be moving to Jersey City, have you considered a closer NJ suburb? The commute from NYC to NJ will tack on to your expenses, and it still takes time.
Other things to consider:
Schools...many in NYC go the private school route. I can't say I know much about Manhattan schools but with the environment I see, I personally wouldn't consider any NYC public school. Disclaimer: I expect many to attack that point and I pre-disclose my ignorance on the matter.
Not having a car will take time to get used to. Especially as a SAHM toting 3 young kids around NYC.
Renting vs owning: No equity, no freedom (stinks with kids), no tax breaks.
At the end of the day, you go with your gut. We were in a similar situation, albeit exactly the opposite. We rented in NYC, but we wanted a better area and QOL for our kids before they reached school age. We contemplated between a time consuming commute to the burbs or renting in a better area...we still felt we'd ultimately end up in private school...we moved to Nassau County and while there's a lot for us to hate about it at times, the kids love it, we're more than happy with the schools. While our commutes suck, I'd be lying if I told you we didn't like what we come home to. The kids are the major factor in that. We have a home with a yard, peace and quiet, and happy kids.
It's a gut instinct. Sometimes things look too good to be true for a reason...but at the same time, if you find yourself fighting to make it work on paper all the time, it's probably time to go.
* The marginal tax rate at your income level in CT is 5.5%. In NYC, it is 10.3%. So that would seem to offset the commute savings pretty well.
* How can you eliminate a sitter with 3 kids?
* $4000 for a 2-bed in a decent building looks more doable on the UWS than the UES. Might be easier anyway for Jersey City given the closeness of the 14th St. PATH and 1/2/3 stops.
* Costs of everything, particularly kids activities are much higher in Manhattan than anywhere else.
If your husband's job will be moving to Jersey City, have you considered a closer NJ suburb? The commute from NYC to NJ will tack on to your expenses, and it still takes time.
I have asked my DH about how long he thinks the commute from UWS or UES would be, he thinks about 30 min or so, and only $80 a mo in subway passes. That's still much better than $500/mo and 2.5 hrs. We have no desire to move to NJ. One of the reasons being we have family in Eastern CT and do not want to move further than Manhattan.
Quote:
Originally Posted by Monty Brewster
Schools...many in NYC go the private school route. I can't say I know much about Manhattan schools but with the environment I see, I personally wouldn't consider any NYC public school. Disclaimer: I expect many to attack that point and I pre-disclose my ignorance on the matter.
I have heard the case against NYC public schools time and time again, and frankly I think there is a little too much fear about it. We do plan on moving to areas with the "good" schools though. If we can't, then we aren't moving- at least not to NYC.
Quote:
Originally Posted by Monty Brewster
Not having a car will take time to get used to. Especially as a SAHM toting 3 young kids around NYC.
We used to live in very walkable areas before we moved out to this very unwalkable 'Burb. I used to take my son and walk to the park, shove him in the stroller for errands, etc. I LOVED it and so did he. In fact we did not have two cars when we lived there - just DH for commuting. We only bought my car BECAUSE of where we live. I think it's far worse and more of a hassle to load/unload 3 kids in the car just to run out for a freaking gallon of milk. I will not miss the car.
Quote:
Originally Posted by Monty Brewster
Renting vs owning: No equity, no freedom (stinks with kids), no tax breaks.
True. But owning is expensive. We have always rented up until we bought this house, and we loved renting. We hate all the yardwork and upkeep now. We are realizing we are not suburban people.
Last edited by reluctant_suburbanite; 11-23-2012 at 11:35 AM..
Reason: spelling
125k-140k with 3 kids will disappear pretty quickly. Even if you live frugally. You likely will have very little for savings/retirement/emergency fund. And since you are renting, you are pretty much giving your money away, as opposed to building equity with owning a property. Also don't forget about the NYC income tax.
Easy commute for your husband will be about the only benefit of living in the city. When you have kids, the "city" living that you dream of becomes a pain in the ass. I have a wife and infant, and I make double what your husband makes, and belieive me it costs to live here. Before the kid popped out, me and my wife loved everything about urban life here. But now I am seriously considering a move to the burb's since now that we have a kid, we really don't find the "city" things as interesting as it use to be.
The marginal tax rate at your income level in CT is 5.5%. In NYC, it is 10.3%. So that would seem to offset the commute savings pretty well.
Hmmm... I will look into the tax differences more. Thanks.
Quote:
Originally Posted by crescent22
How can you eliminate a sitter with 3 kids?.
It's easy; you don't get a sitter. We never had a sitter until after DH landed this job. I was staying at home with all three kids prior to that. A sitter is not a necessity.
Quote:
Originally Posted by crescent22
Costs of everything, particularly kids activities are much higher in Manhattan than anywhere else.
We don't do expensive kids activities here, and would not do them in the city.
Your past life in urban or semi-urban areas with zero or one kid is just that: your past life. You have three now.
If you don't plan on doing activities with your kids (all of which are more costly in NYC than most anywhere else, and what the other poster was alluding to), what do you think they'll become living in NYC?
Don't take this the wrong way but, it sounds like you're not factoring your kids in your decision as much as you should be.
This is also the second bored surburban housewife wanting to move to NYC thread in the recent past. You can search for that thread for more advise.
Was this needed? What an ignorant statement to make. You have no clue about my life, and just because I stay at home with my children does not make me "bored". You don't know a thing about me or my family.
If you think this is a pointless thread, please move on.
125k-140k with 3 kids will disappear pretty quickly..
I hear this often, but I am being serious when I ask, how exactly? We have three kids in the suburbs, it's cheaper than NYC but still not cheap. What would we be doing/paying for differently in the city with kids as opposed to the 'burbs if we aren't doing private school or extraneous expensive activites?
Quote:
Originally Posted by 85dumbo
Easy commute for your husband will be about the only benefit of living in the city. When you have kids, the "city" living that you dream of becomes a pain in the ass. I have a wife and infant, and I make double what your husband makes, and belieive me it costs to live here. Before the kid popped out, me and my wife loved everything about urban life here. But now I am seriously considering a move to the burb's since now that we have a kid, we really don't find the "city" things as interesting as it use to be.
I guess it depends on your personality. We have been living out here in suburbia for almost 5 years now and hate it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
