[loss4words]

Hi guys!!

I currently live in New York and want to get away from the craziness that comes with living in a large city to a more relaxing, and peaceful place. I love nature and outdoor activities as well as being involved in a local community. I'm currently single. I haven't done a whole lot of research yet but Vermont seems to be ideal place for me from what I've read so far. My plan is to visit Vermont in August, and see for myself. If I do decide to move it will more likely be in 2-3 years.

Couple of things that worry me: unfortunately due to high cost of living in NY I wont be able to save up more than 30K tops to take with me. Is that too little? Would I be able to afford a downpayment on a decent house or will I need to rent? I understand that Vermont is very expensive, but I'm trying to compare it to NY prices which are through the roof and I will never be able to afford my own house in here.

Will I need to drive? I currently don't own a car seeing that public transportation in NY usually takes me everywhere I need to go.

I also read some comments about unemployment rate and how hard it is to find a job. I'm in IT and work mainly in the education district at a university. I guess my best chance to find employment would be to apply for a job at the University of Vermont. Is it really that bad as people seem to think?

There are a lot more questions that are on my mind but I think these were my top 3. I'm sorry if it's a lot I really hope to hear back from you guys on any advice or suggestions.

[CatwomanofV]

The cost of living in Burlington is much lower than NYC but income is also lower. There are bargains to be found in real estate but it depends on where you want to live and how much you want to do in terms of renovations.

As for transportation, Burlington and Rutland do have public transportation. I can't tell you how good it is because I have never used it. If you plan to live outside one of the cities, having a car will be needed.

But come on up and see for yourself.

Cat

[cgregor]

As for affordable living, consider bidding on a property at a tax sale.

When a property owner has failed to pay a year's taxes, the town puts the property up for tax sale. it advertises three times of the date of the auction and the description of the property. Very often a property will have other financial burdens on it-- for example, a years-overdue water bill-- or other handicapping feature, such as being landlocked, so it is advised to check with the town office about the property.

The opening price at the auction is the amount of back taxes due. Most properties are redeemed within the next year, and often bidders know this is the case, so they will not bid on those, which keeps the winning bid lower. Some properties are real dogs, and knowledgeable bidders stay away from those-- but somebody willing to put a LOT of sweat equity into it can get a real bargain- for example, riverfront property in the middle of town with no other dwellings within a couple of football field lengths. Other properties might be very attractive-- worth, say, $200,000 on the market-- and will attract a lot of bidding.

The money from the winning bid is used to pay off the taxes due. The property owner has a year to redeem it, and if it is not redeemed, the property is transferred to the winning bidder, who then pays that previous year's tax (which nobody paid in the interim). All liens on the house incurred by the previous owner are forthwith void, so the new owner starts with a fairly clean slate.

If the owner redeems the property, the winning bidder gets his/her money back, plus interest. The last time I looked, towns were paying 12% interest, which is a far better deal than you can get in a savings account.

So, you might want to pay attention to tax sales and see whether your nest egg might provide you with a very affordable situation.

[loss4words]

Thanks a lot for the responses!

I will definitely come to visit soon and see for myself. I'm very excited about what I will see, and I'm sure I'll fall in love

Bidding on a property at a tax sale sounds very interesting, indeed. I will have to read up on that.

If the property tax is that high is it affordable to pay mortgage and property tax plus car and other expenses while only making 40K annual salary? Sounds like you will need to be in upper class/making decent amount of money to even consider owning a house. Is renting an option?

[vter]

You won't pay the full property tax if you only make 40k. There is a property tax relief program in place for those making under a certain amount (combined). Want to say it is somewhere around 95k.

[cgregor]

Look up "livable wage vermont" to find out how much it will cost to keep above water in any number of Vermont towns or counties. With that info, you can determine whether renting or owning is a better strategy. And sweat equity can make your living expenses very cheap, indeed.

[jackmccullough]

Vermont is a great place to live. Many of our residents have moved up here from more urban settings, although I will say that the weather and rural setting can be an adjustment. In addition to your trip up here in August you might want to visit in the winter to see how you like it.

It's important to have employment. In addition to UVM there are other colleges that may provide you employment in your field. Lots of other companies and ogranizations also need IT services, including the State of Vermont, so you may have other prospects. Even before you're ready to make the move you could check the job listings for the State (www.vermont.gov) or UVM to see how things look.