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I have gone on these threads for the past month searching for the right answer. My husband and I were just married in November of 2013. We live in Long Island NY. Combined our salaries total 100K a year. We are paying $1800 right now for our one bedroom apartment plus utilities. We have 2 car payments which total around $800 a month, insurance payments, cell phones, health insurance, CC payements, etc etc. We simply cannot afford to live on Long island anymore which is upsetting because it is where my husband and I grew up.
We are looking into moving to Cary, Apex or Morrisville NC. My husband has a strong background in sales and I have worked as an Administrative assistant for 7 years at the same company. We are looking to move in March of 2015 when our lease is up. I dont have a job set up in NC yet, however I am looking everyday and I have the qualifications for alot of the jobs im looking at as well as my husband. I am looking into apartments that range from $900-$1000 a month.
My question is, if myself and my husband make a combined salary of 50k a year in NC, is it the same as making 100k in NY? I know its all relative, and we do not want to make this move if we are going to be in the same prediciment. I know that NC is less expensive, however I am wondering if 50k combined salary is on the low scale to make in NC? And like I said we are looking into the areas of Apex, Cary and Morrisville, so we would also be looking for jobs around the area.
I have gone on these threads for the past month searching for the right answer. My husband and I were just married in November of 2013. We live in Long Island NY. Combined our salaries total 100K a year. We are paying $1800 right now for our one bedroom apartment plus utilities. We have 2 car payments which total around $800 a month, insurance payments, cell phones, health insurance, CC payements, etc etc. We simply cannot afford to live on Long island anymore which is upsetting because it is where my husband and I grew up.
We are looking into moving to Cary, Apex or Morrisville NC. My husband has a strong background in sales and I have worked as an Administrative assistant for 7 years at the same company. We are looking to move in March of 2015 when our lease is up. I dont have a job set up in NC yet, however I am looking everyday and I have the qualifications for alot of the jobs im looking at as well as my husband. I am looking into apartments that range from $900-$1000 a month.
My question is, if myself and my husband make a combined salary of 50k a year in NC, is it the same as making 100k in NY? I know its all relative, and we do not want to make this move if we are going to be in the same prediciment. I know that NC is less expensive, however I am wondering if 50k combined salary is on the low scale to make in NC? And like I said we are looking into the areas of Apex, Cary and Morrisville, so we would also be looking for jobs around the area.
Any insight will be appreciated.
Thank You
If you plan for 2 adults to live off 50k in Cary (or Apex or Morrisville, as these areas all might as well be the same place, really), you're just going to put yourself into roughly the same situation (actually, it sounds like it'll be worse) that you're in on LI, minus being able to live near where you grew up and near your friends and families.
We have 1 BR apts in Cary that rent for what you want to spend (800 or so a month) and we have 1 BR apts that rent for close to that 1800-dollar mark (for luxury units) and we definitely have 2 BR apts that rent for that (and more) so if you ever plan to have a family or want more room to breathe, you will need to make a decent living or what's the point in moving?
The real advantage down here is for people who own homes. Property taxes are far cheaper here than they are on LI.
Don't give up what you have there to move here unless you have secured jobs and are going to be making a reasonable amount of money. Put another way:
I cannot see that you'll save on anything but rent. If you save 1k a month in rent, and you only make 50% of your current salaries, how is this a good deal?
1k a month for 12 months is 12k a year.
100k minus 12k is 88k.
You want to make 50k.
Tell me how that makes any sense. I haven't even figured in income tax, but you can see where I'm going with this, right?
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Your 50k estimate for combined salaries here sounds a bit pessimistic. If your husband really has a strong background in sales, he should be able to make 50k himself.
Your 50k estimate for combined salaries here sounds a bit pessimistic. If your husband really has a strong background in sales, he should be able to make 50k himself.
That's a good point. Unless she's referring to retail sales... in which case, he should be able to make about 25k a year. Maybe. Possibly less unless he's in management.
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I am from LI. First of all salaries are not THAT much lower. However it sounds like you guys are going to have the same lifestyle problems here namely huge car payments ($800!!!) And credit card debt.
You can buy a nice house much easier here with much lower taxes but it sounds like no matter where you live saving is going to be a problem for you.
I echo the above posters. You can easily afford to stay in LI you just have to get rid of the debt, shed the expensive cars, and get the pencil out. You won't be able to do that for a bit after moving due to not having two incomes (or any incomes).
$800/month for just payments is obscene, with income in the six figures you should be able to pay cash for cars. Most aren't that fortunate!
People tend to move from NY/NJ to NC for a couple main reasons:
Sold their house and can pay cash for one twice its size down here
Property taxes are $3k vs. $12k
Typically the domain of retirees
Get away from the hustle and bustle that is the NYC metro area, to a much more calming environment
I just worked with someone from NJ, I know "image" is everything up there, maybe coming to NC will allow you to shed that lifestyle as well?
The $800 a month for our two cars is up next year. That will eliminate $400 of that, so we will have one car between the two.
@ Twingles, I agree. I have been looking on websites for jobs and they are not that much less than here on LI.
My credit card debt is low, very low fortunately.
@ucctg, you're right, I was going on a low scale just incase we werent able to find anything right away. I am low balling thinking that if I make 25k and my husband makes 25k which i'm sure (I hope) wont be the case.
@wheelsup, I am looking to be out of the hustle and bustle of NY, 50% and the other 50% is definitly for a lifestyle change.
I would love to own a house there but unfortunately my husband and I dont have money for a down payment.
Anymore input is appreciated, even the negaitve. I just want to make the right decision here before I do anything drastic.
I echo the above posters. You can easily afford to stay in LI you just have to get rid of the debt, shed the expensive cars, and get the pencil out. You won't be able to do that for a bit after moving due to not having two incomes (or any incomes).
$800/month for just payments is obscene, with income in the six figures you should be able to pay cash for cars. Most aren't that fortunate!
People tend to move from NY/NJ to NC for a couple main reasons:
Sold their house and can pay cash for one twice its size down here
Property taxes are $3k vs. $12k
Typically the domain of retirees
Get away from the hustle and bustle that is the NYC metro area, to a much more calming environment
I just worked with someone from NJ, I know "image" is everything up there, maybe coming to NC will allow you to shed that lifestyle as well?
I have found that the opposite is true for most people I meet.
They bring the image consciousness with them.
It's amazing how much more often I see luxury cars on the roads around Cary than I did just 5 years ago. And there were always plenty, it just seems like those numbers have increased tenfold or something. We aren't quite Silicon Valley over here yet, but it's approaching that level of Audi. I'll call it that. I should create an Audi ratio for City-Data.
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