Honestly, making $80K/Year, could you live in Fargo? (Hope: renter, insurance)

[efssampaio]

A family thinking on moving to Fargo, with 3 kids (14, 8 and a newborn), with a job offer of $80K/Year plus some benefits (traditional ones), could live in Fargo?

[TravisW]

Easily.

[acfreema]

$80k would allow you to eat pretty high on the hog, if you don't spend your money frivolously

[DaninEGF]

Yeah $80,000/yr is doable....but as always so much depends on how much debt you have (student loans, credit card, etc) and any daycare expenses.

With that salary....likely to find a nice average newer home in the 170 to 220k range.

Dan

[Cain]

depends, for most people from the area, easily. For you, what kind of expectations do you have on 80K a year? Will you live in the Mansion on the hill, no. Will you live very comfortably, sure within regards to how others live in Fargo, definitely.

I would say take you current pay where you are at and see what some of the estimators have listed out there that say you need "X" to live on to have the equivalent lifestyle as you do where you are now with your current pay.

I took a pretty good size paycut to come here, but am better off and amble to better afford things including a house than I would have out east.

[efssampaio]

Thank you very much Cain.

I am also taking a good size paycut, but I'm willing to accept some risk to find the right place...and I believe Fargo will be that place.

Thank you again. I really appreciate!

Emerson

[efssampaio]

Thank you all for the replies

Rgds,

Emerson

[Cain]

no prob. Let us know how its works out for you. When it comes time to look for a home my only advice would be to keep in mind where the home sits as far as its relationship to the river and flooding. Hopefully they will get something done for this, or plan if you are in some of these areas to be moving furniture up from the lower levels if it gets bad in your house since flood insurance only covers most items (very few if any on below ground level) on ground level or above. Also shoot for homes that have a sewer shutoff or whatever they call it switch so you can instantly plug your drains if needed.

Now that i have been a home renter / owner for alittle bit here during flooding, (technically, when you still got a mortgage you don't own anything yet, and even then, don't pay your taxes and see how fast you still "own" the place! LOL) I am still suprised that so many houses are built like this with below ground finished levels in flood plain areas. My buddies 2 levels below the ground have his sump pump running ALL the time. We are lucky that our home just has a sunken level, and we barely get any sump pump running where we are at. Next home though, probably won't even do a basement or sunken level at all if we get a house in a similar area.

There are amazingly some pretty fancy neighborhoods just south of fargo that were fighting like mad with the flooding issues, hate to see you buy in there and having to deal with that. If you can avoid it now, the better.

[efssampaio]

Cain, thank you very much for the thorough explanation.

Rgds,

Emerson

[Cain]

no prob!