Salary or pay cut to move to Phoenix (Mesa, Glendale: low income, sales)

[Code Stemi]

I have looked into moving to Phoenix quite a bit. The biggest reason I don't think I will is the drop in my hourly wage. I am in Las Vegas, NV, not far at all. I work in nursing (per diem). Here in LV the rates are $10-15/hr more than what the same position goes for in PHX area. I was disappointed to learn that. I think it's enough to keep me in LV. If I could get the same wage I'd love to move down to PHX area, I like it better down there.

[yukon]

Originally Posted by KurtAZ

There are some first time homebuyers programs as well that will kick in (some of?) your downpayment as well.

The ones I found are income based (grants). The others are second mortgages.

[Aesop.]

Originally Posted by locolife

Opinions run strong on pay versus COL and the experience varies a lot from person to person, while costs in Phoenix have risen from the historical lows post 2008 recession pay and employment has as well. When all things are considered Phoenix continues to rank very well in cost to income rankings like the one here- https://www.usatoday.com/story/money...ing/378150002/

Get out of here with your facts and evidence!

[Prickly Pear]

Originally Posted by JGMotorsport64

Get an FHA loan. 3% is all you need for a down payment.

Even at that down payment, a mortgage can be cheaper than renting in many areas like Tempe or Phoenix.

It’s not ideal, but it’s what I would do.

To the OP, a starter home in any desirable part of town will run 290k+ and that number is still growing.

Isn't there a significant PMI with the FHA though?

Originally Posted by DonaldJTrump

Electric must be expensive in Phoenix. I'm guessing a few hundred a month due to air conditioning

Yes summers can be expensive. But winters are fairly cheap.

Originally Posted by chahunt

I have looked into moving to Phoenix quite a bit. The biggest reason I don't think I will is the drop in my hourly wage. I am in Las Vegas, NV, not far at all. I work in nursing (per diem). Here in LV the rates are $10-15/hr more than what the same position goes for in PHX area. I was disappointed to learn that. I think it's enough to keep me in LV. If I could get the same wage I'd love to move down to PHX area, I like it better down there.

Vegas does appear to pay better for my field too, but is Vegas more expensive?

[DetroitN8V]

Originally Posted by Aesop.

Get out of here with your facts and evidence!

Other posters and I have explained to you why the statistics aren’t as they suggest when you want to live in a desirable part of the metro. Ignore that and respond with silly jokes all you want. Come see for yourself since it sounds like you’ve never even been here.

[wannabeaTexan]

Originally Posted by JGMotorsport64

Get an FHA loan. 3% is all you need for a down payment.

Even at that down payment, a mortgage can be cheaper than renting in many areas like Tempe or Phoenix.

It’s not ideal, but it’s what I would do.

To the OP, a starter home in any desirable part of town will run 290k+ and that number is still growing.

Not ideal at all. I bought my house in Texas this way two years ago and sold it to move to AZ. I won’t ever get a home loan with this financing again if I don’t absolutely have to. Paying $130 a month for mortgage payment insurance is ... just a bad idea IMO. You can’t ever get away from it without refinancing w/ 20% down and it felt like a waste of money. I was never in danger of not paying.

[wannabeaTexan]

Originally Posted by locolife

The AC doesn’t run year-round and a lot of us barely use any heat in the winter, in total our utility use here is lower than when we lived in the northeast where we had significant AC and heat use.

I’m hoping my bill in the winter will go way down to offset the summer months. Only been here since July.

[wannabeaTexan]

OP, I don’t know anything about PA. I moved here from Dallas which doesn’t have a high cost of living and all things considered, my bills are about the same. I don’t see a cost of living difference here at all. Gas is higher though. I was lucky enough to bring my job with me, so no pay cut, but I looked at jobs in my field here for awhile and most are certainly lower pay. Probably would still be in TX if I could not have kept my job.

[smoochaz]

Originally Posted by wannabeaTexan

Not ideal at all. I bought my house in Texas this way two years ago and sold it to move to AZ. I won’t ever get a home loan with this financing again if I don’t absolutely have to. Paying $130 a month for mortgage payment insurance is ... just a bad idea IMO. You can’t ever get away from it without refinancing w/ 20% down and it felt like a waste of money. I was never in danger of not paying.

Look at naca.org you can get a loan with small down payment without PMI - it's a govt program and interest rate is lower than market. The down side is that you have to go to a 4 hour seminar - and there is a cap of how much house you can buy I believe $350k - it is a first time homebuyer and owner occupied for a minimum of 5 years - and it takes a while to process like 6mos (?) - another lender I work with said there is also a new loan that came out august 1st that's conventional with 0 down no pmi at 5.25%; lastly, new build homes also have their own financing that are usually better than market.

[Code Stemi]

Originally Posted by Prickly Pear

Vegas does appear to pay better for my field too, but is Vegas more expensive?

It's not expensive in Vegas. The housing market is pretty inflated, but overall- general cost of living is affordable. Probably comparable to Phoenix metro area. What line of work are you in?
Unfortunately, I'm held captive by golden handcuffs here in LV. On the plus side, no state income tax in Nevada.