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This is such BS. We make a combined six figure income and do just fine in Fairfield County. Live in a nice home, have two new vehicles, are able to shop for healthy food, vacation twice a year, pay for cell phones, gym memberships, etc. All of this in a great town that has a fantastic school district.
Don't be so dramatic.
I agree, although it is considerably more difficult in very exclusive towns like Darien and New Canaan. That said, you don't need a 7-figure income. $250k-$300k maybe.
Did you say that you'll need to commute to SoHo, Rye AND Chappaqua? Or am I misreading that?
What is the most frequent commuting destination you/your husband need to get to?
Yes, unfortunately, my DH commutes to multiple towns in Westchester - everywhere from northern to southern, SoHo and needs access to NY airports. Chappaqua is the most logical it seems to balance quality schools and commute. He does most frequent LGA and JFK actually. But he likes that he can look forward to a 15-20 min commute on at least a day or 2 during the week. Just tired of being stretched thin financially with the taxes and home repairs on a 1920's house. We will look into Greenwich more on the forum, while we stay put.
And yes, it all honestly it seems that really both counties are just the same in terms of wealth, income and cost of living, quality schools, but not the taxes and your dollar (in general) will go a little further in CT for a more modest updated home, correct?
Of course you don't need a seven-figure income to live comfortably in lower fairfield county. But if you have children and want to save money for college and retirement, I would say you would need combined income of at least $200k and probably more like $300-400k to live comfortably in lower FFC. Most of the superior lower FFC towns have median home prices exceeding $1mm. So to even afford the median home with 20% down and a market-rate mortgage, you'd need a bare minimum of $250k in gross income--and that's assuming you had no other monthly debt obligations.
Quality of life in FFC is higher if you don't compare yourself to the Joneses. But comparing oneself to the Joneses is the primary occupation of many people in FFC.
In terms of FFC being cheaper--I don't really think so. The favorable tax treatment tends to drive up prices. As people have mentioned here, there are plenty of towns with excellent schools in FFC that are more reasonably priced, but they're extremely grueling commutes. That's why they're cheaper. So you kind of get what you pay for.
Greenwich is probably the best option, but beware that it's a very different environment from Chappaqua. The areas that are in your price range are very densely populated, and most of the town is a small-city like atmosphere.
Yes, unfortunately, my DH commutes to multiple towns in Westchester - everywhere from northern to southern, SoHo and needs access to NY airports. Chappaqua is the most logical it seems to balance quality schools and commute. He does most frequent LGA and JFK actually. But he likes that he can look forward to a 15-20 min commute on at least a day or 2 during the week. Just tired of being stretched thin financially with the taxes and home repairs on a 1920's house. We will look into Greenwich more on the forum, while we stay put.
And yes, it all honestly it seems that really both counties are just the same in terms of wealth, income and cost of living, quality schools, but not the taxes and your dollar (in general) will go a little further in CT for a more modest updated home, correct?
Your dollar will go a bit further in CT due to lower overall property taxes, but you'll also lose out because you'll spend more time & money commuting.
(And, once you get to higher-end homes in NY, you also have to worry about the "mansion" tax there, unless that's been dropped in the past few years. It's a surcharge on homes over $1 million.)
Of course you don't need a seven-figure income to live comfortably in lower fairfield county. But if you have children and want to save money for college and retirement, I would say you would need combined income of at least $200k and probably more like $300-400k to live comfortably in lower FFC. Most of the superior lower FFC towns have median home prices exceeding $1mm. So to even afford the median home with 20% down and a market-rate mortgage, you'd need a bare minimum of $250k in gross income--and that's assuming you had no other monthly debt obligations.
Quality of life in FFC is higher if you don't compare yourself to the Joneses. But comparing oneself to the Joneses is the primary occupation of many people in FFC.
This makes absolutely zero sense. Care to elaborate?
Sure: If you don't care about how you relate to your neighbors in terms of your material possessions, you'll be happier. This general idea is particularly true in FFC, which is known for its often ostentatious displays of wealth. As someone who has lived in Fairfield County, I can attest that in my personal experience, many people are (as they are in many affluent suburbs) concerned with how their wealth and possessions relate to those of their neighbors and are willing to live beyond their means in order to project an image of wealth and success. It is a highly pressurized environment. And unlike other parts of Connecticut and New England in general, the wealth in FFC is often vulgarly displayed.
I mention this to the OP because it's clear based on her home budget and the towns she's interested in that she will be on the lower end of the economic spectrum in, say, New Canaan, if she chooses to move here. If you're someone who's going to be bothered by SAHMs driving leased Range Rovers and bragging about their heavily financed 6,000sf McMansions, it's not the place for you (or you need to readjust your attitude).
I mention this to the OP because it's clear based on her home budget and the towns she's interested in that she will be on the lower end of the economic spectrum in, say, New Canaan, if she chooses to move here. If you're someone who's going to be bothered by SAHMs driving leased Range Rovers and bragging about their heavily financed 6,000sf McMansions, it's not the place for you (or you need to readjust your attitude).
One of my good friends lives in New Canaan. She lives in a million+ dollar home (3 acres, pond, pool etc.) and even she feels out of place there on occasion if you could believe that. When I was looking for a house 15 years ago I went to look at townhomes there (and they have some nice ones) and I got the impression that the real estate lady was kind of looking at me like a bag lady. I could only afford the lowest end propeties in the town and the OP would probably be looking at those same condos and townhomes.
I really like the little town of New Canaan but from personal experince I would have to agree with mrgmrg on the disparity of wealth thing. I live in Trumbull and when I go into my Starbucks I feel like a chic member of my town but when I stop in the New Canaan Starubucks I feel like a hot mess compared to the folks standing in line.
On the flip side I agree with everyone on here that says Greenwich. My brothers married girls from Greenwich and almost every boyfriend I ever had was from Greenwich. Despite all the wealth in Greenwich I never feel out of place there. There are also a lot of sections in Greenwich where you should be able to find a townhouse in your price range. I am thinking of Glenville, Byram, Cos Cob, Riverside and Old Greenwich. Maybe even the section of Palmer's Hill Road near Stamford.
When I lived in Stamford I used to go to school at Pratt in Soho. I would take the train in from the Greenwich train station and I found it quite nice.
BTW, what is a SAHM?
Last edited by CTartist&musician; 01-03-2014 at 01:48 PM..
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