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*I originally posted in the Lexington section, but it doesn't look like that section gets too much activity, so hoping to get more feedback here*
What region or city, if known, are you considering? Around Lexington or somewhere between Lex and Louisville
Have you been here yet? Yes, I came down for the Rolex Three Day Event and at a different time to look at some horses
When are you moving? Late 2022/early 2023?
Where are you coming from? Northern Virginia, outside of DC
Why are you moving? I want my own farm and there are no farms in northern Virginia for under $1M; also the land around me keeps getting developed and I have zero interest living near subdivisions
Where will you be working (location, not specific company)? I currently work for the USG, am hoping to find something to continue my federal service, but not sure if that's feasible - alternatively, I'd love a horse-related job - I can be ready to leave the government
Are you looking for a suburban, rural, city, or urban area? rural
Will you buy or rent? Buy
If buying, are you looking for a house, a condo, or a farm? Farm
How much can you spend? apprx. $700k
Are you looking for acreage? yes
How much? Ideally at least 50, or a minimum of 5-10 if there's ride-out somewhere
Do you have children? no
What do you want to be closest to?
Work
Shopping
Basic services (supermarket, drugstore, etc.) This would be nice
Nightlife
Ideally, I'd like to be surrounded by land that's not likely to be developed - are there any conservation easements anywhere? Also near eventing barns as my horse will be in training.
Given your parameters, I suggest you pull out a map of northern Kentucky and locate Midway, which is... well.... midway between Lexington and Frankfort. Now look for Versailles, to the south. Draw a line between the two, and then make a triangle between those two towns and the eastern edge of Frankfort.
I would start looking in that general area, and quite likely that's as far as you will have to go - although you may want to extend the search area south as far as Mercer County or thereabouts. This is the heart of the Bluegrass, Horse Country USA. It sounds like every single think you're looking for is right there or in fairly easy driving distance, and I think it's one of the prettiest areas in Kentucky. I just wish we could recommend realtors here, because I'd have given you the number of one we met when we started selling our own farm earlier this year.
Given your parameters, I suggest you pull out a map of northern Kentucky and locate Midway, which is... well.... midway between Lexington and Frankfort. Now look for Versailles, to the south. Draw a line between the two, and then make a triangle between those two towns and the eastern edge of Frankfort.
I would start looking in that general area, and quite likely that's as far as you will have to go - although you may want to extend the search area south as far as Mercer County or thereabouts. This is the heart of the Bluegrass, Horse Country USA. It sounds like every single think you're looking for is right there or in fairly easy driving distance, and I think it's one of the prettiest areas in Kentucky. I just wish we could recommend realtors here, because I'd have given you the number of one we met when we started selling our own farm earlier this year.
Also, for anyone that has moved to KY from a higher cost of living area, have you found the adjustment to be relatively easy?
I know this is probably hard to answer.
I anticipate taking a paycut of at least 40-50% of my current income and will have to figure that out.
Also, for anyone that has moved to KY from a higher cost of living area, have you found the adjustment to be relatively easy?
I know this is probably hard to answer.
I anticipate taking a paycut of at least 40-50% of my current income and will have to figure that out.
We lived in Kentucky then moved to the NoVa area, lived there around 7-8 years, then moved back. I work in the education field and although I wasn’t a classroom teacher in the last decade or so the pay charts allow for easy comparisons. The gap for teachers of same experience and credentials between Kentucky and the NoVa area was around +$20-26,000 in NoVa - roughly 28-34% difference in pay. In Kentucky that lower pay could purchase a 1500-1800 sq ft single family starter home in a decent area. In the NoVa area that higher pay meant having to share a one bedroom apartment in a mostly safe area. That is not even taking into account the commute considerations.
I will warn you that moving from a high COL area to a lower COL area when accompanied by lower pay takes between 6-18 months to adjust to depending on the bills you bring with you - as in car loans, credit card balances, or anything else where you purchased goods or took out credit based on available income. Taxes that first year, if you move mid-year, can be quite interesting and you may end up having to write a check to one state that is not offset by the refund you get from the other. Eventually though you are better off in the low COL area, especially since they capped SALT deductions. When we moved back my husband took about a 12% pay cut and I shifted from full time employment to part time, we are still better off financially and certainly enjoy the less stressful lifestyle.
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When I post in bold red that is moderator action and, per the TOS, can only be discussed through Direct Message.
Also, for anyone that has moved to KY from a higher cost of living area, have you found the adjustment to be relatively easy?
I know this is probably hard to answer.
I anticipate taking a paycut of at least 40-50% of my current income and will have to figure that out.
The balance between pay cut/expenditures works out fairly well, usually. Depending on your line of work. What we both found harder to get used to were the secondary and tertiary layers of what it really means to be "low cost of living." One of the things that means is "low taxes", and what you'll find is that you get what you pay for. There's a reason Kentucky ranks in the bottom brackets nationwide in key metrics such as health, health care, health outcomes, education, poverty, childhood well-being, economic mobility, etc. Poor government is one, but historic failure to invest in the infrastructure and/or the citizens of the state is the biggest reason, and that traces back to the low taxes.
I'll get attacked and personally insulted for saying that, but it is what it is. Many people are comfortable with that tradeoff, and if you're one of them, welcome to Kentucky. But you at least have the right to go into it with your eyes open, so you know what you're getting.
We lived in Kentucky then moved to the NoVa area, lived there around 7-8 years, then moved back. I work in the education field and although I wasn’t a classroom teacher in the last decade or so the pay charts allow for easy comparisons. The gap for teachers of same experience and credentials between Kentucky and the NoVa area was around +$20-26,000 in NoVa - roughly 28-34% difference in pay. In Kentucky that lower pay could purchase a 1500-1800 sq ft single family starter home in a decent area. In the NoVa area that higher pay meant having to share a one bedroom apartment in a mostly safe area. That is not even taking into account the commute considerations.
I will warn you that moving from a high COL area to a lower COL area when accompanied by lower pay takes between 6-18 months to adjust to depending on the bills you bring with you - as in car loans, credit card balances, or anything else where you purchased goods or took out credit based on available income. Taxes that first year, if you move mid-year, can be quite interesting and you may end up having to write a check to one state that is not offset by the refund you get from the other. Eventually though you are better off in the low COL area, especially since they capped SALT deductions. When we moved back my husband took about a 12% pay cut and I shifted from full time employment to part time, we are still better off financially and certainly enjoy the less stressful lifestyle.
Thank you for the great insight!!
The good news is, I won't have any debt (other than my car), so at least I have that going for me!
The balance between pay cut/expenditures works out fairly well, usually. Depending on your line of work. What we both found harder to get used to were the secondary and tertiary layers of what it really means to be "low cost of living." One of the things that means is "low taxes", and what you'll find is that you get what you pay for. There's a reason Kentucky ranks in the bottom brackets nationwide in key metrics such as health, health care, health outcomes, education, poverty, childhood well-being, economic mobility, etc. Poor government is one, but historic failure to invest in the infrastructure and/or the citizens of the state is the biggest reason, and that traces back to the low taxes.
I'll get attacked and personally insulted for saying that, but it is what it is. Many people are comfortable with that tradeoff, and if you're one of them, welcome to Kentucky. But you at least have the right to go into it with your eyes open, so you know what you're getting.
The balance between pay cut/expenditures works out fairly well, usually. Depending on your line of work. What we both found harder to get used to were the secondary and tertiary layers of what it really means to be "low cost of living." One of the things that means is "low taxes", and what you'll find is that you get what you pay for. There's a reason Kentucky ranks in the bottom brackets nationwide in key metrics such as health, health care, health outcomes, education, poverty, childhood well-being, economic mobility, etc. Poor government is one, but historic failure to invest in the infrastructure and/or the citizens of the state is the biggest reason, and that traces back to the low taxes.
I'll get attacked and personally insulted for saying that, but it is what it is. Many people are comfortable with that tradeoff, and if you're one of them, welcome to Kentucky. But you at least have the right to go into it with your eyes open, so you know what you're getting.
You have valid points when discussing parts of Kentucky, however, I do wanna point out that the areas that you have recommended to the poster do not have those issues. The healthcare shortages, health outcomes, education, childhood well-being, poverty rates, and all those negatives are no more of an issue in Kentucky’s Golden Triangle than any other state’s affluent areas. Both Fayette County and Woodford County, in particular, provide individuals and families nice quality of life opportunities.
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When I post in bold red that is moderator action and, per the TOS, can only be discussed through Direct Message.
You have valid points when discussing parts of Kentucky, however, I do wanna point out that the areas that you have recommended to the poster do not have those issues. The healthcare shortages, health outcomes, education, childhood well-being, poverty rates, and all those negatives are no more of an issue in Kentucky’s Golden Triangle than any other state’s affluent areas. Both Fayette County and Woodford County, in particular, provide individuals and families nice quality of life opportunities.
Thank you for zeroing in on this - I was wondering about exactly what you have just highlighted here.
There will me some things that won't affect me/us, such as anything involving schools, or children. It's really just me, my husband, my mom who's in her 70s who will be with us and my animals. So maybe medical care for her, but looking at the places recommended, they don't seem too far out or too isolated, right?
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