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Old 07-10-2014, 12:31 AM
 
2,064 posts, read 4,435,743 times
Reputation: 1468

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I know that there is the psychological sticker shock but let's run some quick numbers shall we?

Let's say you make $120k/year here. That's pretty conservative if you're an IT guy with a lot of experience. You could make double (or more) of that.

That gives you nice round number of $10k/month. Since there are no state taxes, you'll take home around $7500/mo.

Even if you buy a $600,000 house (oh myyy) and put $25k down, with a 3.5% 30 year fixed, you'll be paying $2500/mo or 1/3 of your take home pay which isn't that bad...you'll still have $5k left over to pay for your cars, insurance, property tax, food, etc. Heck, you'd probably be able to save $1500/month and in 5 years you'll have a cool $100k in the bank.
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Old 07-10-2014, 07:14 AM
 
Location: San Ramon, Seattle, Anchorage, Reykjavik
2,254 posts, read 2,739,837 times
Reputation: 3203
That actually doesn't sound too bad. I pay 4 income taxes (excluding federal) here in Ohio - state, regional, the city where I live, and the city where I work. No state or local income tax is huge.
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Old 07-10-2014, 02:29 PM
 
Location: Seattle, WA
187 posts, read 576,895 times
Reputation: 115
Quote:
Originally Posted by Stonepa View Post
The only thing holding me back is the cost of housing. How do you people do it?
Your salary in Seattle will be significantly more than in Cleveland. Sr. IT/tech will most likely be making *at least* $100k+. Depending on experience and size/wealth of company, more like $130k-ish (eg. Amazon). I am a Sr. Software Engineer that missed the chance to buy low during the recession years (2008 to 2010ish). Now I have heard buying a house in the city (Seattle) is cut throat - cash is king. It's crazy to think people put down cash offers on $600k homes. I will most likely have to move outside the city to buy a house. I could afford a nice new town house in the city, but I really want a proper house with backyard, garage, etc.

Welcome to the new boom times.
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Old 07-11-2014, 12:02 PM
 
128 posts, read 223,146 times
Reputation: 156
You're gonna leave Cleveland just as Johnny Manziel and Lebron James get there? Just joking. Haha.
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