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I know my name says "Vermont" but I actually grew in Westchester, just came to the forums to originally think about relocating there because of crazy cost of living in Westchester. But, ultimately, not sure what I will do and looking for some advice.
I'm currently a masters student, job lined up, getting CPA this summer, start work in NYC in September. By my calculations of my salary and student loans, I can have them paid off in two years living at home. My girlfriend is going to school for next two years to become a science teacher. She'll live at home as well. When she is done, she'll have 45k in loans. We would like to live on our own after she finishes.
I'll be making a decent salary (70k, but not much with cost of living), but how difficult for my girlfriend to find a teaching job? I assume they are VERY competitive, but she is a great student and expects to graduate with nearly 4.0 at her MAT program. She would have more luck in urban areas, but does not want to deal with that.
But assuming she can find a job, how much do teachers make in the area?
Additionally, what type of income is necessary to live comfortably? The housing prices are crazy, nothing decent barely under 500k in many areas. Additionally, taxes are insane as well. Just as an example (in a few years...):
I make: 100k+, very possible in 5 - 10 years as CPA in NYC.
She makes: 50k+, assuming possible teaching in this area?
So, collectively: 150k... what type of mortgage/taxes/insurance cost should we expect to afford? What kind of house?
I don't expect to buy a house right away anyhow, so expected renting, but can we expect to ever buy a house? And not be "house poor".... ? I'm not exactly willing to live in a tiny house with huge payments just to afford the area. And although I enjoyed growing up in my house, on top of houses around me,I'd rather have some more privacy, space. Obviously, that means expensive, lol. I'd rather relocate. But would we have to?
I just want to know what to expect before settling down here. And the longer we wait to leave, the harder it will be, so the sooner I get a realistic picture, the better.
Sorry for the long post... but if anyone can help me, I'd greatly appreciate it. Thanks!
The situation for teachers is pretty poor at the moment. Isn't the city laying off 6400 next year??? Just read that today somewhere... Wall Street Journal I think.
You sound very sweet and thoughtful. It's always good to plan but remember many things happen and opportunities come up that you don't expect. Your girl friend could go to UAE and work teaching English and pay off her loans in a couple of months? Who knows. You could get a management job after you have your CPA & MBA and make four times what you are calculating. Just depends on your personality and how fast you get promoted and your individual abilities. Good Luck to you and wish you all the best. (my 2 cents) Live at home as long as possible and save as much as you can!!
II'm not exactly willing to live in a tiny house with huge payments just to afford the area. And although I enjoyed growing up in my house, on top of houses around me,I'd rather have some more privacy, space. Obviously, that means expensive, lol. I'd rather relocate. But would we have to?
Jay, it all depends on what you're looking for from the schools. If you and your girlfriend are thinking about settling down and having kids, you will find that the demand for the top school districts drive the prices for the houses. If you don't care as much, you can get much more for the money in certain neighborhoods in Yonkers or White Plains, or in hamlets like Hartsdale (where I closed on a house several months ago). We were able to find something under $600K that met our criteria for lot size, house size, proximity to city, etc., because we are going to use private schools. Or you could go farther north, generally you can get more bang for the buck as you head further up.
Hope this helps, feel free to PM me with any questions.
I've done a lot of posts on teaching jobs, so rather than repeat it here, try to find some of my posts on it. I'll just say salary-wise teachers in Westchester are among the highest paid in the entire US, but as a result it is also one of the most difficult places to get a job. But budgets aside, some things (math, science, special ed, ELL/bilingual, inner cities) are easier to get than others (elementary, social studies, art, music, PE, small/wealthy suburbs). Good luck!
My wife and I are looking for a single family house in Weschester to raise a family. We were considering Hartsdale or White Plains. Any advice out there??
Jay, you can always rent a house or apartment. If you and your girlfriend have $100m income in total, you should be able to live well. Housing prices have fallen quite a bit as you certainly know.
Focus on White Plains, Eastchester, Tuckahoe, Hardsdale, Hastings, Dobbs Ferry, etc. Or, Northern Westchester if you don't mind being away from the action.
My wife and I are looking for a single family house in Weschester to raise a family. We were considering Hartsdale or White Plains. Any advice out there??
Fred, in Hartsdale you get a lot more bang for your buck as far as space and lot size, because the schools are not considered nearly as good as those in places like Edgemont, Scarsdale, etc. The schools are considered average, but if that is ok with you Hartsdale is a great place to be, and taxes are much lower than the surrounding areas. My wife and I were never going to use the public schools anyway, and we love it here. We were able to get much more house and land than we'd have been able to get somewhere else.
Hartsdale is very convenient to NYC (35 min on express train), WP, and shopping. It has a very nice walkable downtown with good shops, and plenty of great suburban neighborhoods with a relaxed feel. DM me if you want more info.
Thanks alot I appreciate the info!! I will share this information with the wife and maybe take a visit next week there.
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