[spr1975wshs]

Hey all;

I read through the other Stratford centered threads, got some good info, but still have some doubts.

It's a DCMA job (federal/defense contract).

We are a mid-50's, childless couple and have always lived pretty simply.

The offer is at a starting salary of 77.5K, which would be a considerable jump from the current 25K I bring in and her VA disability stipend of 13K.

The move from northern Illinois where we are now won't be a big culture shock as we are both from around Springfield, MA originally. We have been gone about 30 years, however.

I have gathered that housing costs would be more reasonable east of the Housatonic (Milford area)?

...that the Stratford area is reasonably placid insofar as crime is concerned?

How's the job market for lesser skilled folks like me who have worked in retail most of their adult life?

If the offer gels, I'm sure I'll have more questions.

Take care!

[Stylo]

Stratford's actually pretty affordable for the area. If anything, Milford might be a little more expensive. But your property taxes will be lower. Milford is a great town if you can swing it, and it has a HUGE amount of retail, and an easy commute as you can shoot up the Milford Parkway to get to Sikorsky.

Have you searched on Realtor.com to check home prices? I would start there.

Some more affordable towns in the area include Shelton, Seymour and Ansonia.

Crime is pretty low in all mentioned towns. There's only one part of Stratford that borders Bridgeport that might cause concern.

It's a good area in general, and sounds like a good opportunity.

[jane_sm1th73]

Originally Posted by spr1975wshs

Hey all;

I read through the other Stratford centered threads, got some good info, but still have some doubts.

It's a DCMA job (federal/defense contract).

We are a mid-50's, childless couple and have always lived pretty simply.

The offer is at a starting salary of 77.5K, which would be a considerable jump from the current 25K I bring in and her VA disability stipend of 13K.

The move from northern Illinois where we are now won't be a big culture shock as we are both from around Springfield, MA originally. We have been gone about 30 years, however.

I have gathered that housing costs would be more reasonable east of the Housatonic (Milford area)?

...that the Stratford area is reasonably placid insofar as crime is concerned?

How's the job market for lesser skilled folks like me who have worked in retail most of their adult life?

If the offer gels, I'm sure I'll have more questions.

Take care!

First, CONGRATS to the Mrs. on getting the job, and in getting it after that "40+" cutoff! Difficult these days. You may want to factor in the living costs in CT as a whole, which are considerably more than they are anywhere in the Mid-West. Therefore, an equivalent salary will NOT go as far. It doesn't matter how can-do, frugal, etc. you are - your personal characteristics do not help against $8K property taxes for your living quarters and $800/yr personal property taxes for your car. The taxes and fees will eat you alive unless you look at the best configuration for you BEFORE you jump into a town, or a house. The taxes and fees are the biggest shock to people from out of state.

Buying anything on short notice when you do not have another 20 years to recover from a potential mistake is worth some up front time investment. It's just different when you're in your 50s, vs. when you're in your 30s; and when you are in a nationwide lingering contraction, vs. the 80s and 90s expansion we all remember affectionately.

CT is experiencing an exodus of the formerly middle class (contributors to the tax base) and an influx of illegal aliens (recipients of tax dollars). It's a wash, CT is not losing population - everything is double plus good. If you buy property before you suss out the effects of changing demographics in your specific area, you may be buying a surprise.

IMHO, the best way to learn what works for you is to rent FIRST. You only need a year to suss out the area and to see what might work for you, and to see what you might anticipate in taxes and fees as an owner vs. as a renter. Stratford and Devon have lots of rentals.

Regrettably, none of us has the recovery time that we once might have had. Before this recession, and when we were in our 30s, e.g. People who benefit from used house sales will disagree with this position. That is, lawyers, appraisers, mortgage workers, title workers, used house sellers, new house constructors, home improvement contractors, appliance sales people, property maintenance people, CT municipal and state workers, teachers, school bus drivers, cafeteria workers, nurses, etc. - whether they are actually employed or not, that's 70% of the on-the-books employment in CT. The remainder are fast food workers, health care aides and doctors. The folks who depend on taxes, fees and commissions will encourage you to buy early and buy big, before you are priced out forever. They will each skim a few cents off from your salary dollar. The more dollars to skim, the better. Everything double plus good.

I recommend using the legendary Mid West level headedness to examine the entire proposition of becoming a conduit for cash extraction ahead of time. Just my opinion, of course.

Congrats again - sincerely. Consider the full court press to analyze how to make it work best for you. Best to you!

[Stylo]

Originally Posted by jane_sm1th73

First, CONGRATS to the Mrs. on getting the job, and in getting it after that "40+" cutoff! Difficult these days. You may want to factor in the living costs in CT as a whole, which are considerably more than they are anywhere in the Mid-West. Therefore, an equivalent salary will NOT go as far. It doesn't matter how can-do, frugal, etc. you are - your personal characteristics do not help against $8K property taxes for your living quarters and $800/yr personal property taxes for your car. The taxes and fees will eat you alive unless you look at the best configuration for you BEFORE you jump into a town, or a house. The taxes and fees are the biggest shock to people from out of state.

FWIW I have a house that's valued nearly $400k and only pay $5500/year. My 2 cars (both newer, one a sports car) also don't quite run $800/year combined.

Also, northern Illinois definitely cheaper than CT - but a bit more expensive than much of the midwest.

Renting is good advice though!

[jane_sm1th73]

Originally Posted by Stylo

FWIW I have a house that's valued nearly $400k and only pay $5500/year. My 2 cars (both newer, one a sports car) also don't quite run $800/year combined.

Also, northern Illinois definitely cheaper than CT - but a bit more expensive than much of the midwest.

Renting is good advice though!

Stylo, not meanin' to argue here, it all depends on the town and the demographics. I had a house that the town valued at $450K, for which the taxes were $8800, which I listed for $350K, and sold for $300. No, not distress, foreclosure, short, or anything like that. The new owners are still paying $8800/yr. Because "market value" doesn't need to equal "sales price in an arm's length transaction", doncha know. And because it's For the Children, doncha know. By the test scores, college admissions, and youth unemployment, the Children ain't gettin' much for the dough.

The State and Town Gubmint knows best. Everything is double plus good.

[Stylo]

Originally Posted by jane_sm1th73

Stylo, not meanin' to argue here, it all depends on the town and the demographics. I had a house that the town valued at $450K, for which the taxes were $8800, which I listed for $350K, and sold for $300. No, not distress, foreclosure, short, or anything like that. The new owners are still paying $8800/yr. Because "market value" doesn't need to equal "sales price in an arm's length transaction", doncha know. And because it's For the Children, doncha know. By the test scores, college admissions, and youth unemployment, the Children ain't gettin' much for the dough.

The State and Town Gubmint knows best. Everything is double plus good.

Nah, no argument intended. There are lots of towns where a house my value would be taxed at $8000-$9000 a year. Monroe, Trumbull. Would be even more in Bridgeport. The towns do vary a lot. I count myself fortunate that Milford taxes are pretty low given the way they assess. We just wind up paying a little more on car taxes than some towns.

Looking at where the OP is from (Rockford) on Zillow, a $350,000 house was taxed at $15,508/year, which is a lot. An $82,000 house at $5,800/year. That's pushing it even for CT. Of course, that $350,000 house is huge and would cost $800,000 in the Stratford area, and you'll never find a decent starter home for anything less than the high 100's.

Just putting things in perspective is all. We actually have it OK on property taxes in many towns, but you don't get nearly as much house for the money.

[andthentherewere3]

Shelton would be an easy commute. Since the OP is childless, they might not be looking for a colonial; a ranch-style home might be big enough for them, unless size truly matters. Taxes will vary throughout the region, and look at lot sizes when factoring in taxes, too. Even in Monroe taxes on a smaller home on an acre would not be as high as predicted here though, but since the OP has no need for good schools Shelton/Stratford/Milford are good options. It would be helpful if the OP would add what size home they are looking for, and at what price point.

As for getting a job in retail, as long as you are flexible and available 7 days a week you should not have trouble finding a job.

[kidyankee764]

Originally Posted by Stylo

Looking at where the OP is from (Rockford) on Zillow, a $350,000 house was taxed at $15,508/year, which is a lot. An $82,000 house at $5,800/year.

That's because the majority of homes are assessed at less than 50k so the mortgage is next to nothing. A 350k house in Rockford is equivalent to a 2 million dollar home in CT.

We don't have it "OK" here in CT with regards to property taxes. We're the second highest in the country. That's not OK.

http://retirementliving.com/tax_burden_3fam_2009.pdf (broken link)

Look at what's number 1...and look at the property tax difference between spots 1 and 2.

[Stylo]

Originally Posted by kidyankee764

That's because the majority of homes are assessed at less than 50k so the mortgage is next to nothing. A 350k house in Rockford is equivalent to a 2 million dollar home in CT.

We don't have it "OK" here in CT with regards to property taxes. We're the second highest in the country. That's not OK.

http://retirementliving.com/tax_burden_3fam_2009.pdf (broken link)

Look at what's number 1...and look at the property tax difference between spots 1 and 2.

Yeah, but Bridgeport taxes are absolutely crazy. Almost triple the lower taxed towns. That 350k Rockford home would be 800 in Seymour.

[kidyankee764]

Originally Posted by Stylo

Yeah, but Bridgeport taxes are absolutely crazy. Almost triple the lower taxed towns. That 350k Rockford home would be 800 in Seymour.

They are crazy (apparently the craziest in the country in 2009), as their mill rate is about double what the average town is in CT. Still, if you take that list of taxes and compare 50% of Bridgeport's property taxes (average CT town), most CT municipalities would still come out in the top spot. We have extremely high property taxes here - that's pretty factual.

That being said, it might be 800k in Seymour, but perhaps 2+ million in Fairfield, Woodbridge, Newtown, etc. My point was that the payment of a mortgage for an average house in Rockford including property taxes would still be less than a similar payment in CT.