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Old 04-10-2009, 11:10 AM
 
Location: Twin Cities, MN
74 posts, read 242,030 times
Reputation: 34

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We need to decide THIS weekend if we are going to relocate to FW.
We now live in a suburb of Minneapolis- my husband makes 47,000+ a year.
The FW job is for $2.00 less an hour, which will be $5000 less a year, $41,000/year.
The statistics show that in order to live the same there, he could make $34,000+.
So according to that we should be good...

It is scary taking a job paying less, but we may still come out ok. How the heck do you know? Our loans a credit card payments will stay the same. Utilities are about 38% cheaper in FW...but still.

has anyone been in this same predicament?
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Old 04-10-2009, 11:54 AM
 
Location: TX
3,041 posts, read 11,382,579 times
Reputation: 1395
we did.
Housing prices much better, no state income tax.

BUT...high RE property tax (use 3% and you'll have a fair estimate without under estimating)
We found utilities higher...of course we have a bigger house. Summer AC rates can kill you if you are not prepared...300-400 per month 3000 sqft house.
But winter is good...(natural gas) and the spring is great...last few months haven't had to have anything but ceiling fans to cool and a bit of heat in the AM if it's chilly.

we found the taxes etc... to be a wash...no real big saving in no state income tax since the property taxes are high.
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Old 04-10-2009, 12:28 PM
 
Location: Bella Vista, Ark
77,804 posts, read 97,962,888 times
Reputation: 49114
Quote:
Originally Posted by 5stones View Post
we did.
Housing prices much better, no state income tax.

BUT...high RE property tax (use 3% and you'll have a fair estimate without under estimating)
We found utilities higher...of course we have a bigger house. Summer AC rates can kill you if you are not prepared...300-400 per month 3000 sqft house.
But winter is good...(natural gas) and the spring is great...last few months haven't had to have anything but ceiling fans to cool and a bit of heat in the AM if it's chilly.

we found the taxes etc... to be a wash...no real big saving in no state income tax since the property taxes are high.
I don't think on $40,000 plus a little per year they are thinking of anything like a 3000 sq ft home.. Or at least I doubt it.

nita
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Old 04-10-2009, 12:34 PM
 
Location: Bella Vista, Ark
77,804 posts, read 97,962,888 times
Reputation: 49114
Quote:
Originally Posted by GIAcakes View Post
We need to decide THIS weekend if we are going to relocate to FW.
We now live in a suburb of Minneapolis- my husband makes 47,000+ a year.
The FW job is for $2.00 less an hour, which will be $5000 less a year, $41,000/year.
The statistics show that in order to live the same there, he could make $34,000+.
So according to that we should be good...

It is scary taking a job paying less, but we may still come out ok. How the heck do you know? Our loans a credit card payments will stay the same. Utilities are about 38% cheaper in FW...but still.

has anyone been in this same predicament?
If you are planning on buying a home, don't forget the real estate taxes. They are really high in Texas but the lack of income taxes will almost offset the property taxes.

I am sure the big item will be utilities. We lived in Lewisville for 13 years and our daughter lives in Highland Village. We had 1700 sq ft, only the two of us plus a house full or dogs and cats. Using ceiling fans in the summer and our fireplace in the winter our utilities (gas and electric) would run about $100 in the winter and about $150 or a little more during the summer. April, May, Oct and Nov they were almost non existant.

I think the most important consideration is job security..If you have it either place why not give Texas a try?

Nita
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Old 04-10-2009, 12:38 PM
 
Location: Twin Cities, MN
74 posts, read 242,030 times
Reputation: 34
we would be renting so we wouldn't have to worry about the property taxes yet.
Thanks everyone!
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Old 04-10-2009, 02:26 PM
 
119 posts, read 489,157 times
Reputation: 28
the rent is even cheaper here i believe. good luck and welcome (hopefully).
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Old 04-15-2009, 05:03 AM
 
Location: NE Tarrant County, TX
394 posts, read 1,196,370 times
Reputation: 262
I took a cut in pay to move from a job in NYC to one in Arlington, TX last November. Not only did I take a cut in pay, but we moved so that my wife (formerly a provider of our second income, now a stay-at-home mom) could take care of our two little ones. That took another $75K in yearly income out of our pockets. Guess what? I wish that we had moved years ago. For us the quality of life improvement in TX far exceeds any monetary compensation for living in NY/NJ.

We have a better home (about 3xs the size of the one in NJ) with a much better layout for living - new construction, too (something that pushes you into the $1M price range in our corner of NJ). We are comfortable and happy. Leaving behind a job and an expensive child-care sitautiion makes the move essentially a financial wash. Lastly, freeing up the home equity built up in NJ has allowed for us to make a number of "one time only" purchases that help make our lives a whole lot easier.

I don't know the specifics about your move, but relocating from a higher cost of living area really has paid off for us.

Good luck. Do your homework. Starting here and asking questions is a good start. There are lots of people in the DFW area who did the exact thing you are looking to do.

-Eric

Last edited by Eric S; 04-15-2009 at 06:32 AM..
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