Can a single person live decently on under 40K in ABQ? (Albuquerque: 2015, foreclosure)
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Well I did say under 40, and I don't know how much under yet. I know starting salary range for the position is low 30s to high 30s. I wouldn't accept it if I cant negotiate mid-high 30s.
Do you mean where I am coming from metaphysically or physically? I'd rather not divulge the latter except to say it's a very low population rural area with pretty cheap housing compared to abq, but probably much higher heating and utility costs. Web sites tell me the COLA in abq is about 103, where I live now its about 95. I haven't rented in 16 years and based on CL it looks like I'd be lucky to get a decent place for less than 750-800/mo. Yes there are some, but not a lot. That seems very high, considering the last time I rented 16 years ago I paid $400 for a nice clean place on several acres within city limits. So I guess that helps explain my "frame of reference"-I know abq isnt considered super expensive but it looks expensive from where I'm coming from.
I have spent enough time in abq to have a general feel for it, but not a whole lot. Most of my time in NM has been in the south and around Santa Fe.
Yes, I meant where in terms of location you are coming from. It sounds like you'll have a slight reduction in living standards compared to what you are used to now, but nothing drastic. It sounds like you have a pretty good idea already what it'll be like.
Yes, I meant where in terms of location you are coming from. It sounds like you'll have a slight reduction in living standards compared to what you are used to now, but nothing drastic. It sounds like you have a pretty good idea already what it'll be like.
yes and no. I'm familiar enough with the city (acquainted with it is more accurate) that I'm not going in completely blind, but I've only spent a few days there and driven through many times. I've been to Nob Hill, University, Oldtown, the Bosque, REI (lol), up around Tijeras and that's really about it. My number one concern is that I really am NOT a city person. I can handle working in the city (which I only have to do part of the time) but really need an affordable place to rent with a rural feel. I would say east of the city would be ideal (and there's trees!), except I definitely don't want to be cold/snowy in winter and I don't want to drive 1/2 hour to work. I should probably start a new thread about housing. Cheap, greenish, close and rural(ish) (meaning elbow room) is what I need.
yes and no. I'm familiar enough with the city (acquainted with it is more accurate) that I'm not going in completely blind, but I've only spent a few days there and driven through many times. I've been to Nob Hill, University, Oldtown, the Bosque, REI (lol), up around Tijeras and that's really about it. My number one concern is that I really am NOT a city person. I can handle working in the city (which I only have to do part of the time) but really need an affordable place to rent with a rural feel. I would say east of the city would be ideal (and there's trees!), except I definitely don't want to be cold/snowy in winter and I don't want to drive 1/2 hour to work. I should probably start a new thread about housing. Cheap, greenish, close and rural(ish) (meaning elbow room) is what I need.
You might consider Bosque Farms then. Semi-rural, close to the city, relatively less expensive if you don't buy a house with a large plot of land.
I'd be happy just to upgrade one of my 17-19 year old vehicles with 250,000 miles each to a 12 year old vehicle with only 150,000 miles, and start getting out of debt.
Now that is an intelligent comment. I've helped so many people with financial planning, and those words sound so sweet to anyone that focuses on helping people. Most people would tell me they have a 10 year old vehicle and they need to go drive a new one off the lot. Smart move by you sticking with the used vehicles. I generally don't buy anything newer than about a decade for myself or my wife.
Since it appears you are being intelligent with your spending, on 40k you could VERY easily get buy in ABQ. Of course, you said less than, so I'll break it down a little more. On 20k, you would have to be very careful and would probably have to limit what you ate and what you lived in. The sacrifices would be more than you would want to deal with.
At 30k you could have a reasonable life so long as you did not have a desire for drinking alcohol at bars / going to fancy dinners / buying new clothes / etc.
At 38k you could make some fairly poor choices and still be able to do just fine. You could not make terrible choices without suffering consequences.
Note that all of these points are assuming that debt service payments (outside of a mortgage, which would be a replacement for rent) do not make up a meaningful part of your budget. It also assumes that if you live in the country and have to commute 20+ miles for work, that you utilize a vehicle that gets good mileage. If you're driving a pickup for 40+ miles each day, that will cost you.
I make 30K a year and feel like I live like a king. I moved here from Seattle and barely got by on my salary. At the same time, I live modestly. I live in a duplex in a good part of town for $625, have a low car payment, and am not in too much debt. But I'm able to eat out frequently, visit my family every 6 months or so in Washington, and have money leftover for savings.
If you're getting a casita with a swamp cooler, your utilities will be cheap. My utilities are roughly $70 a month total through the summer, fall and spring it's $40-50 a month, and then two to three months in winter it's a little higher at $100. Very affordable from what I have dealt with in other areas.
I think North Valley where you're looking is a good place to look if you want rural. Just make sure you check the neighborhood out first because some of the areas are not great. Stay away from the railroad tracks. There are some beautiful spots, though, near the Rio Grande--I've considered going down there myself. The east mountains are also beautiful, but like you said, your commute will be difficult if it's in Albuquerque. There might also be some areas in Bernalillo. Most people say to stay away from South Valley, though some of the areas don't look too bad to me.
I'm a state employee and I can tell you annual increases don't exist. I think state employees will be getting a 1% raise before the end of the year, at least that's what we're told, but this will be the first one in years. Either way, it's probably not worth including an increase into your calculations.
I do think you would be able to live decently, though, as a single person and assuming you have no kids.
Just out of curiosity what do you do for the state? Is there a lack of increases across the board in all state jobs or just certain departments?
Well I got the offer but it was so low I don't have a prayer of negotiating them to the other end of the starting scale. With all the hassles of moving and renting AND low pay to boot, I just don't think it would be a smart move.
Well I got the offer but it was so low I don't have a prayer of negotiating them to the other end of the starting scale. With all the hassles of moving and renting AND low pay to boot, I just don't think it would be a smart move.
It should be noted that the State doesn't hire people at the rates they used to even 10 years ago. As far as raises go, they are dependent on the Roundhouse and whether you are in a union or not. In other words, they are out of your hands.
Sorry to see you won't be moving to NM. Unfortunately I recently left the Land of Enchantment for similar reasons and took a gig overseas. I really liked living there with the laid back outdoor lifestyle and perfect climate, but they need to get their house in order economically before I will consider moving back. I was told once by an oldtimer that NM is a great place for your soul but not a great place to get rich.
I'm a state employee and I can tell you annual increases don't exist. I think state employees will be getting a 1% raise before the end of the year, at least that's what we're told, but this will be the first one in years. Either way, it's probably not worth including an increase into your calculations.
I do think you would be able to live decently, though, as a single person and assuming you have no kids.
Hi, state employee. What's the property tax sitch for the long-term in NM? I'm fleeing New York taxes that have gone to the stratosphere, and don't want go to through this again if I relocate.
Hi, state employee. What's the property tax sitch for the long-term in NM? I'm fleeing New York taxes that have gone to the stratosphere, and don't want go to through this again if I relocate.
Taxes aren't going to go up through the stratosphere. Our economy simply cannot support that.
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I'd rather not divulge the latter except to say it's a very low population rural area with pretty cheap housing compared to abq, but probably much higher heating and utility costs. Web sites tell me the COLA in abq is about 103, where I live now its about 95. I haven't rented in 16 years and based on CL it looks like I'd be lucky to get a decent place for less than 750-800/mo. Yes there are some, but not a lot. That seems very high, considering the last time I rented 16 years ago I paid $400 for a nice clean place on several acres within city limits. So I guess that helps explain my "frame of reference"-I know abq isnt considered super expensive but it looks expensive from where I'm coming from. 
