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Its not easy. Need an area with decent job prospects. Cheap homes. Low taxes. Stuff to do. Weather. Few places have everything. Some come close, but they are far away from family. Sometimes I see one perfect job but no others, so that makes you wonder.
Plus, I have a lease, a girlfriend who I care for very much and want her to be happy as well, others have wives / husbands and their jobs too. Its complex and bankrupting yourself is not the answer. You definitely don't need 70k cash, but the stars need to align just right to pick up and move.
Very true and dare I say that faith may play a role in terms of how you feel about things working out or about any adjustments. For instance, I think due to my upbringing, I feel that there aren't too many places that I couldn't live in, but you still never know until you actually go to that new place to see for yourself or when you start living there.
Life is simple in NY. Make as much money as you can. Give it to the state in taxes and struggle to live on what they leave you.
But get out of NY and options open. Most people I know transfer out of state. So they make the same money, have the same vacations and so on. They have the same families the same hobbies. They just have a VASTLY better lifestyle due to having far more money.
This is how we think when we look to get out.
But what if................................
My wife and I are used to living on peanuts even though we make good money. So since we are used to being poor what if we left NY and lived the same way but choose jobs we enjoyed instead of just payed the bills?? So same lifestyle but more happiness (job wise).
Or what if we chose a simple life with low stress?? Make little money at some simple job. Spend more time doing things we enjoy instead working 7 days a week just to pay taxes and heat bills.
I think we get the point. You're looking at things very rigidly. $100k on a $400k home is 25% down. So, you're putting yourself in a box of needing a $400k house or saving $70,000 before you can move someplace. You don't have to live in Fairfield County and you don't need $70k to relocate.
A 20% down payment on a $400K home is $80K. Transaction/closing costs will be about $14K and points will be about $4K. So that's $98K required to make a 20% down payment and cover closing costs and points on the purchase of a starter home in Fairfield County, CT.
Right now I have $47K saved up for that purpose, so $52K more to go. I can save about $17K per year, and I will need to purchase a new $20K car by then (my car is getting old), so it would take me about 4 or 5 years to reach the $98K if I want to purchase a home here. But I'd be 35 years old by then.
I'm also planning to spend $1,600 on a road trip vacation next week to the Midwest/west.
A 20% down payment on a $400K home is $80K. Transaction/closing costs will be about $14K and points will be about $4K. So that's $98K required to make a 20% down payment and cover closing costs and points on the purchase of a starter home in Fairfield County, CT.
Right now I have $47K saved up for that purpose, so $52K more to go. I can save about $17K per year, and I will need to purchase a new $20K car by then (my car is getting old), so it would take me about 4 or 5 years to reach the $98K if I want to purchase a home here. But I'd be 35 years old by then.
I'm also planning to spend $1,600 on a road trip vacation next week to the Midwest/west.
Keep in mind, that if you are really considering to move to any of these areas, that you don't have to go up to 400k to get a pretty nice, large home in any of them. For instance, these are the most affluent neighborhoods in the Syracuse area: Census Block Group 014800-2 in Onondaga County, New York
So, again, if you are actually serious about moving this way(shrug), you probably don't even have to go that high to get what you want in terms of a home.
Keep in mind, that if you are really considering to move to any of these areas, that you don't have to go up to 400k to get a pretty nice, large home in any of them. For instance, these are the most affluent neighborhoods in the Syracuse area: Census Block Group 014800-2 in Onondaga County, New York
So, again, if you are actually serious about moving this way(shrug), you probably don't even have to go that high to get what you want in terms of a home.
Well, of course I already knew that. I was just making it clear that for purposes of Fairfield County, CT, I would have to save up close to $100K to seal the deal comfortably on the purchase of a starter home. But in a place like WNY, I would only aim to save about $30-35K to achieve the same thing (which I already have well over that).
Well, of course I already knew that. I was just making it clear that for purposes of Fairfield County, CT, I would have to save up close to $100K to seal the deal comfortably on the purchase of a starter home. But in a place like WNY, I would only aim to save about $30-35K to achieve the same thing (which I already have well over that).
OK, I wasn't sure if that was the case. Syracuse is actually in CNY, but all three areas are within 2-2 and a half hours from each other.
Jobs - climate and lack of public transportation. Wny housing market are stable when home values drop, Wny is not hurt . In fact they really don't decline. New home price are not cheap going for market value with HIGH taxes. Nothing really here for the young (why stay with high student loans) the elderly seek warmer climate and forsaking snow and ice. Summers bring back the elderly due to the fact of the nice summers.
Buffalo has adequate public transportation. 1/3 of Buffalo residents do not drive to work.
To answer the OP, there isn't a high demand of jobs to live here. The quality of life is nice, but the barrier of entry to employment is not. The salaries are still pretty decent, especially when compared to the rest of the Midwest and the South. The average joe in Buffalo does better than every other Metro (>1 million people) in the United States based on income to housing ratio.
Life is simple in NY. Make as much money as you can. Give it to the state in taxes and struggle to live on what they leave you.
But get out of NY and options open. Most people I know transfer out of state. So they make the same money, have the same vacations and so on. They have the same families the same hobbies. They just have a VASTLY better lifestyle due to having far more money.
This is how we think when we look to get out.
But what if................................
My wife and I are used to living on peanuts even though we make good money. So since we are used to being poor what if we left NY and lived the same way but choose jobs we enjoyed instead of just payed the bills?? So same lifestyle but more happiness (job wise).
Or what if we chose a simple life with low stress?? Make little money at some simple job. Spend more time doing things we enjoy instead working 7 days a week just to pay taxes and heat bills.
Then the system starts to shut down.
I don't know anyone in Western New York that is well employed and struggling.
Yeah I don't really know a lot about WNY. I live in what would be the Syracuse area and it's bad here. The taxes and utilities plus the just general cost of everything is really sucking the fun out of everybody.
I got a real good job and just got a nice raise. It's not even gonna cover the increase in school taxes never mind the other taxes and MASSIVE heating bills left from last winter(budget plan).
We live deep in the ghetto which sucks but keeps the mortgage low and keep the heat on 60 and drive beat up rust buckets. My heart goes out to folks with nice houses that like to be comfortable in winter. The walls are really closing in on the few middle class people left in NY.
Yeah I don't really know a lot about WNY. I live in what would be the Syracuse area and it's bad here. The taxes and utilities plus the just general cost of everything is really sucking the fun out of everybody.
I got a real good job and just got a nice raise. It's not even gonna cover the increase in school taxes never mind the other taxes and MASSIVE heating bills left from last winter(budget plan).
We live deep in the ghetto which sucks but keeps the mortgage low and keep the heat on 60 and drive beat up rust buckets. My heart goes out to folks with nice houses that like to be comfortable in winter. The walls are really closing in on the few middle class people left in NY.
No it isn't and the average income in the Syracuse area is actually the highest of the three areas and the COL is in the middle. No one is buying the Oneida is ghetto thing either.
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