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The family and I have been thinking about relocating to the area for quite some time now (from the Boston area), and within the past couple months have gotten more serious. We took a trip down, and decided it was time to start sending out resumes to try and get a feeling for salaries.
I work in IT, and while I was expecting a pay cut, I am a little surprised at the numbers I've been getting. I've had three phone interviews, and the salaries are coming in at about 25-30% less than what I'm making up here. I also spoke to an ex-colleague from Boston who is now an IT manager in the area, and he confirmed similar salary ranges.
While there are several reasons why we want to move to the area, the cost of living was high on the list, as we were hoping to be able to sock away some money for the future, where here we're not saving as much as we think should. Unfortunately it's seeming like it's going to be more of a lateral move as far as that's concerned.
I was just wondering people's thoughts on this, and if this is par for the course. Those that relocated from more expensive areas, what kind of pay cut did you take? Is the cost of living in NC really all that it's cracked up to be?
There are many threads on this topic. Yes, we took a pay cut moving here. The main areas for savings for people from expensive metros are home prices and taxes. Some people are coming from higher priced areas where they have sold a home and are able to buy a new one here and still save some of their profits. Taxes are less here although, not as much so in Chapel Hill. Everything else is a wash, some more, some less. I do find entertainment costs less then where we came from (museums, entry fees, etc) but restaurants are the same.
I forgot to add commuting costs as a savings. We were paying $15/day in tolls and gas to travel 85 miles a day plus the wear and tear on the cars.
My question is more on the lines of, do people feel like they were in better financial shape after they relocated, or do they feel as if it was a lateral move financially, but with benefits such as a nicer house, nicer weather, nicer roads, less traffic, etc?
I moved here 21 years ago from Rochester, NY. If I had stayed in Rochester, I would have paid maybe $60,000 extra in real estate taxes. My house would have remained the same in price there. It doubled here. Houses are more expensive here than Rochester. Food is more. As others have said, restaurants are about the same. Gas is lower.
Pay for me as a training consultant was about the same. But here there are more opportunities for me, especially as the economy has improved. It's interesting to use keywords for jobs at Indeed.com and compare different cities. There is nothing for me in Rochester anymore.
I have never been happier to be out of snow country than in the past year.
The summers here are the PITS. That is the only downside for me. I had no clue they were so intense.
Overall, moving here is the best move I could have made...and I wasn't convinced of that the first few years. As far as trees, roads, space, short commutes, and things to do, Rochester scores higher than Raleigh for me.
Here, it seems you need to make more of an effort to seek out things to do. In Rochester, there were more festivals, the lake, river, the Finger Lakes area (wine country), more cute towns to explore, and frequent trips to Canada. Here, there are some similar things (and beaches 2 hours away). So you can have a great life here if you make the effort.
Last edited by lovebrentwood; 03-25-2015 at 08:29 PM..
Honestly the real estate taxes are what sets this place apart from the north yet for how long since we have shortages in cost overruns for schools as well infrastructure needs and water increases on the horizon. If weather is a huge issue for you then go for it but I would rather be in Cambridge if I had a choice and pay the price.
I think only you can answer how a 25-30% pay cut will impact you. Do you want a brand new $750K house? Well, if you're mortgaged to the eyeteeth on a house you can sell for $300K you're going to have a problem with that.
So many transplants come here and "want it all". I know people who complain bitterly about "not having any money" but they moved here and bought the biggest house they could and the top of the line car, etc etc, just because they got "more for the money". Well, if you couldn't live on "x" amount in Boston, chances are you're not going to live on "x" amount here if it's the same chunk out of your paycheck for monthly expenses. However, it IS undoubtedly a better QUALITY of life, so if that appeals to you, it might be worth the move. I have several friends from Boston and they have zero regrets.
We definitely don't want it all. We're looking at houses in the 300-350k range, possibly less.
We're savers, and one of the big things we wanted out of the move was the ability to save more money for the kids' education, and for our retirement. Maybe throw in an extra vacation or two along the way. We get by relatively comfortably in MA and probably save more than the average family, but we still don't feel like we're on track to handle college costs and retirement.
Money isn't everything, and there are a ton of other good reasons for us to relocate. I just always hear people raving about the cost of living, low home prices, and low taxes, which is great, but I don't think it's as much of a factor as people think when you factor in lesser income.
Location: River's Edge Inn, Todd NC, and Lorgues France
1,737 posts, read 2,574,220 times
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Quote:
Originally Posted by twingles
...However, it IS undoubtedly a better QUALITY of life, so if that appeals to you, it might be worth the move. I have several friends from Boston and they have zero regrets.
I don't know about "IS undoubtedly a better QUALITY of life".
That depends so much on the individual.
A person interested in museums, history, culture, fine dining, professional sports and public transportation would be hard pressed to choose the triangle over Boston.
Last edited by ucctgg; 03-25-2015 at 09:36 PM..
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