How many people moved to another state to avoid expensive cost of living, and eventually moved back to Il? (Chicago: real estate, how much) - Chicago Suburbs - Illinois (IL) - City-Data Forum

roxyscooby · 02-29-2008, 09:22 AM

Im from the western suburbs, and although my significant other and I do ok with our home and salaries, it is just ridiculous out here. You cant get much of a home for under 350k, and taxes on top of that are crazy. We added and fence and our taxes went up! Then look at your paycheck and how much gets taken out! For the love of GOD!
I know it's life, and us Illinois people are used to it, but don't you ever think you want to move somewhere else to live better...like Nevada?

But my question is, (because I am in the situation), how many people relocated for the "better" financial future, but regretted it and moved back to snowy, expensive Illinois??

Frank the Tank · 02-29-2008, 11:37 AM

Quote:

Originally Posted by roxyscooby

Im from the western suburbs, and although my significant other and I do ok with our home and salaries, it is just ridiculous out here. You cant get much of a home for under 350k, and taxes on top of that are crazy. We added and fence and our taxes went up! Then look at your paycheck and how much gets taken out! For the love of GOD!
I know it's life, and us Illinois people are used to it, but don't you ever think you want to move somewhere else to live better...like Nevada?

But my question is, (because I am in the situation), how many people relocated for the "better" financial future, but regretted it and moved back to snowy, expensive Illinois??

I guess it's all about your frame of reference. People from New York and California look at Chicago-area prices and can't believe how cheap the real estate is around here. Overall, I think the income-to-real-estate-price ratio is relatively fair around here - it's not great, but it's not like the large markets on the coasts where you have to overleverage yourself to buy even if you have a large salary. It's funny that you mention Nevada since it actually has one of the worst income-to-real-estate-price ratios anywhere - Las Vegas real estate is every bit as expensive as Chicago real estate, yet you'd be hardpressed to get as good of a salary in Vegas for the majority of professions. The markets that could be considered "cheap" when taking into account income and job opportunities (while it might be cheap to buy in Danville, that means nothing if you don't have a decent job) are Atlanta, Dallas, Houston and Charlotte (basically the southern boomtowns that have room to expand, which keeps supply relatively high).

rgb123 · 02-29-2008, 11:55 AM

Actually yeah....I'm still here partly cause I can't get over the state income tax in California (I did live there a few years ago and moved back to illinois, but not anything to do with money, I was too young to care at the time ), where I have had numerous job offers, and I almost took a job in Nevada though it was 10,000 less than I make here (still tempting). Illinois has the lowest of the state income tax, of states that have income tax. I think you can live pretty cheaply in Illinois depending on the choices you make and where you decide to buy, that is what is kinda nice about this area, you dont actually have to leave the state to find something affordable, you might just have to switch suburbs or neighborhoods....but you dont have to make a major life altering change.

Me though? I would not mind settling here in Illinois, it is my home sweet home....but I really want to go out to Nevada or California one more time while I'm still young, those places have a lot to offer and the outdoors....and higher salaries in some cases...more excitement depending on what you find exciting.

Anyway if Illinois was really too expensive for me yes I think I would consider a place in Texas or especially...Denver, if it stays that way...maybe Boise. I have a lot to think about now, actually! I think as long as I remain single I will want to be in one of those western places over illinois....so its really not a trade off for me.

Steve-o · 02-29-2008, 12:04 PM

Moved to Tennessee and moved back to IL shortly after. Minus the "bad" winter weather for most, Chicagoland is a GREAT place to live. Im here forever, I havent found anywhere in the country thats even remotely as nice yet as "affordable" as Chicagoland. Id love NYC or Boston, maybe San Diego or Santa Fe, but you wanna talk outrageous prices?!?!?! YIKES!!! The good thing about out here is the good paying jobs, endless opportunities, and several hundred suburbs to choose from.

gardener34 · 02-29-2008, 12:27 PM

"Illinois has the lowest of the state income tax, of states that have income tax."
They're talking about raising it.
They make up for it via their gas taxes.
And many little towns have their own little taxes, i.e. Schaumburg, Chicago, Cook County tax, etc.
We get "extra-ed" to death.
Real estate is not that bad here, believe it or not. Taxes on the real estate are too high though - in my opinion.

roxyscooby · 02-29-2008, 01:56 PM

I guess your right when you look at other major cities. It is hard to make it on an average salary especially if you are single and don't have dual incomes. I do like it here, but I think where the heck can I go from here. Everywhere you turn you are being taxed to death!

Thanks for the opinions. I know the grass isn't always greener on the other side, just wanted to see if it was........

rgb123 · 02-29-2008, 02:32 PM

Im not convinced....I dont live in one of those places with the extra tax (cept the gas or whatever) 9.3 percet of my income in California!? ouch....I felt that depsite the higher salary.

BUalumni · 02-29-2008, 03:54 PM

I big part of our decision in moving from Chicagoland was to avoid the outrageous taxation that many of the suburban locations inflict on their residents. We moved away from Indy, for employment reasons, back into Illinois, but not Chicagoland. The funny part is that we have a house that is almost three times the size that we had in Downers Grove, and two times the size that we had around Indy, but they all cost around the same. The scary part it is, I have a really nice job that supports our family well, but Chicagoland is pretty cheap as far as big cities go, and there was no way we could afford to have the same standard of living that we have in central Illinois, in DG, without going into major debt. I don't know how people honestly do it, even when Chicago is a steal compared to either of the coasts!!

roxyscooby · 02-29-2008, 04:20 PM

Quote:

Originally Posted by BUalumni

I big part of our decision in moving from Chicagoland was to avoid the outrageous taxation that many of the suburban locations inflict on their residents. We moved away from Indy, for employment reasons, back into Illinois, but not Chicagoland. The funny part is that we have a house that is almost three times the size that we had in Downers Grove, and two times the size that we had around Indy, but they all cost around the same. The scary part it is, I have a really nice job that supports our family well, but Chicagoland is pretty cheap as far as big cities go, and there was no way we could afford to have the same standard of living that we have in central Illinois, in DG, without going into major debt. I don't know how people honestly do it, even when Chicago is a steal compared to either of the coasts!!

Thats what im saying! I lived in Downers Grove (growing up with my parents). The closest I can get to them now is Bolingbrook (Woodridge side). My brother lived in Woodridge, but was forced to sell because he could no longer afford the taxes. He makes 80k a year! That is insane!
I love my family, and it would kill me to move away, but I would almost rather move to another state, than live in new lenox or plainfield and have to deal with traffic (my job is in Bloomingdale now, and will probably be in Vernon Hills soon).
I know we are cheaper compared to CA, NY, etc. but I dont live there. I live in Illinois, and I think it is expensive. Not living in CA doesnt make things any better here!

sgresident · 02-29-2008, 04:43 PM

i know that the property taxes are high here in illinois and some people think about moving south to get away from them. my parents lived just outside of st. charles and moved to a very nice development in Hot Springs Village, Arkansas. the property taxes were lower, but they had personal property taxes..on cars, boats, etc. contents of your home. when all was said and done, the amount of taxes was about the same! food costs were the same. usually the gas prices were less. that was about the biggest difference.