Moving to pay off debt and perhaps the house?

Discussion in 'Budget Board' started by ForTheLoveofDisney, Jun 17, 2006.

  1. ForTheLoveofDisney

    ForTheLoveofDisney <img src="http://www.wdwinfo.com/dis-sponsor/image

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    I saw this question asked on another online community I belong to.

    They used an article found in USA Today called Close to home: Des Moines as a reference and then asked:
    So then that got me to thinking about it. Then I thought I'd ask the question over here and get some of your responses.

    Has anyone here done it? Are you or have you thought about it?
    Let me know your thoughts.
     
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  3. Caitsmama

    Caitsmama <font color=darkorchid>Closet Hannah Montana Fan!<

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    For me, leaving my family cannot be replaced by a cheaper cost of living. I love my family,and we are very close. My sister had a beautiful condo in Naples Fl, and just moved back home after a yr and a half to be back with my dd (who is her only niece). So, for me, No. I would not ever move just for the cost of living.. We are only on this earth for a short time, i want to be near my great family for as long as i can!
     
  4. adisneymama

    adisneymama DIS Veteran

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    We have never moved just because of the cost of living. DH's company has us move around a bit. Hasn't bothered me at all to be away from family. I do miss a few family members, but we are not a close knit bunch. I would think that if we could move somewhere and live comfortably and it would be the best idea for us, then yes we would do it.
     
  5. DawnM

    DawnM Dawn

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    We lived in Los Angeles and after we had kids and they started growing we decided it really would be in our best interest to move, have more land, a bigger house, and a more relaxed style of living.

    We sold our 1400 sq. ft. house in SoCal for $600,000 and moved to NC where we could buy a 3,300 sq. ft on 2.5 acres for under $350,000. Our income has dropped (mostly because I stopped working) but we are living much better here on less income than we did in CA.

    My parents retired in Phoenix and I do worry about them for the future. We may end up back West (somewhere within driving distance) just to help them when they get to where they can't drive, etc....hopefully that will be years down the road.

    Dawn
     
  6. juligrl

    juligrl DIS Veteran

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    We're already fortunate enough to be in a very affordable housing market area as it is, surrounded by our loving family. We did move over the county line last year though to build our new house where property taxes are lower. Now, instead of being 5 minutes from my parents, we're more like 20 minutes. I can't envision us moving to a cheaper place just for the sake of moving. We have a pretty reasonably price housing market here right outside of Pittsburgh, so even if it just meant switching towns I'm sure we could stay "local".
     
  7. Steamboat Marti

    Steamboat Marti <marquee><font color=purple>Chick-In-Charge Wannab

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  8. dznymom3

    dznymom3 Mouseketeer

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    We moved from California to South Carolina a year and a half ago. One of our deciding factors in the move was cheaper housing. We were able to buy twice as much house as we had in California for a lot less than California. We also wanted a slower pace of life to raise our kids. I am able to stay at home here and I was not able to do that in California. We miss the weather in California but not the hectic pace.
     
  9. ForTheLoveofDisney

    ForTheLoveofDisney <img src="http://www.wdwinfo.com/dis-sponsor/image

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    That's a great story Marti. And that's what we've been thinking about. We think with no debt, we wouldn't necessarily need to have soul-sucking jobs just to keep a roof over our heads and the lights on. We're thinking with a move now, it would catapault us ahead financially fifteen years.

    I do realize that money is not everything. But, if you don't have a close, tight knit extended family it could be a promising option.
     
  10. StephMK

    StephMK DIS Veteran

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    We came close enough that we had a plane ticket for DH to interview elsewhere. Both sets of parents are here but we really wanted to be out of this area. Too competitive in the area, schools are great but ultra competitive as well, traffic, pace of life, etc. Hours after we bought the ticket, he got a job offer here. It was one of those - do you take what's offered or wait & see what was possible (not great prospects at the time) out of town. He liked the prospect well enough we're still here for now. I love our immediate neighborhood & friends so we're ok. We're disappointed not to leave but our families are so happy & the kids have their friends.

    We struggled w/the decision but yeah, we'd leave family for a quieter lifestyle. It helps to know they would have moved as well if we'd left. Silly that we all stay in a place we don't love for each other!

    Great article - that's what I had hoped we'd do.
     
  11. wrldpossibility

    wrldpossibility DIS Veteran

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    This is an interesting discussion because I did the opposite. We were in a lower cost area, and moved about 10 hours away to be close to family in a higher cost area. It was hard to afford a home, but worth it to be nearby.

    I also have two friends who recently moved away for the housing. They were both unable to buy a house in our high cost housing market. One moved to Utah, and the other to NC. They both were able to buy homes, and one of them bought a quite large one. I'm not sure if it was worth it to them or not...both left behind family and roots. I don't know if I could have done the same. One of my friend's mother was just sobbing telling me about the move and how she wouldn't see her grandkids more than once a year at best now. (She saw them every day here.) :guilty:

    We live within minutes to family, and can afford a small home here (Southern Oregon, btw). Sometimes it's tempting to move when I think how large a home we could have elsewhere, but it never seems worth it to us. It would break my family's heart (and my kids', to be away from Grandma). So we'll stay here and squeeze into our home! :grouphug:

    If we were not emotionally close to family, and if we both had to work full time to support our family (I don't have to work), we'd consider it for sure.
     
  12. Steamboat Marti

    Steamboat Marti <marquee><font color=purple>Chick-In-Charge Wannab

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    Truthfully, our timing was based on the age of our son. We moved October of first grade. We knew that if we didn't move when he was young enough the transition would be harder each year after. We've NEVER looked back and never been happier!
     
  13. DawnM

    DawnM Dawn

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    We feel the same. My husband has gotten many offers for promotion and he has turned them down. He feels it isn't worth the money and "prestige" to sacrifice his family time and health. I am happy to live more frugally to have him home more!

    Dawn


     
  14. jeankeri

    jeankeri <font color=darkorchid>I threw cartons of milk at

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    My cousin and his new wife picked up and moved to North Carolina (where neither of their families live) for affordable housing and job opportunities that were unavailable in the suburbs of Boston. That was 4 years ago, they are living well with no regrets. I give them all the credit- I never could have moved that far away from home in my mid-twenties.
     
  15. wdwfan1

    wdwfan1 DIS Veteran

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    Steamboat, I enjoyed reading your story. We live on Long Island and it certainly is not cheap!

    Good luck in your new home.
     
  16. shaylahc1

    shaylahc1 Mouseketeer

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    We are getting ready to do something similar, but on a much smaller scale. Right now we live in Apex, NC, and our home has appreciated $70K since we bought it 5 years ago. We are unhappy with the schools here, and have decided to move. Selling our home will allow us to pay off about $60K in debt (2nd mortgage and both cars) and we will move to an area with a cheaper cost of living so we can buy a larger home with more land for less money. We are looking at the rural areas on the outskirts of Charlotte. :bitelip: We estimate the move will save us about $2000 a month in expenses. Might mean the difference between me getting a fulltime job or being able to stay home with my kids which I have done for the last 10 years. DH telecommutes so it doesn't matter where we live, and we have no family here.
     
  17. DVC Sadie

    DVC Sadie <font color=royalblue>Those mashed taters are soun

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    We moved from Montgomery County Maryland in 1998 down south to help my parents when they needed assistance and stayed. The cost of living, taxes, housing and durable goods in MC was very high plus I didn't like the fast pace of living.

    The cost of housing was only a small factor in choosing to stay in a small town. We enjoy the quieter more relaxed lifestyle. The people are nice and we know all of our neighbors. Moving also allowed us to retire very early.

    My SIL and her family just moved last Friday from Maryland to South Carolina so they wouldn't have to work constanly just to make their mortgage.
     
  18. jay-nee

    jay-nee Can you see me? I'm over here...

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    The kids and I are sort of doing this. A couple of years ago, my Mom moved 2 hrs north to live on the same road as my sister and her family. Now, post divorce, the kids and I are moving up there too.

    Currently our house is on the market and we've chosen to move from our gentleman's farm to a condo. We are all very excited about the changes. We will be so close to everything! The HS, work, gym, walking paths, grocery store. Everything within 5 minutes - max.

    Where we live now, it is a 30 minute drive to anything we need. Plus, we will be only 7 1/2 miles from our family, about 20 minutes, as they live just outside the city. Close enough, but far enough too. ;)

    Economically, this is a great move for us, if we can just get the house sold. :) I've never sold a house before and it is so much work...

    So, wish us luck! Waiting to move is killing us! Not really, but we are so ready now...
     
  19. theflowerladee

    theflowerladee DISNEY MOM

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    My DH and I have been considering this for about 2 yrs now, I own my own
    business(a florist) and right now between economy and large chain store(ei: costco, pathmark, etc.) we have been struggeling and have had to even
    re-fi our house because of business debt. I have 3 ds's and 2 are still
    young enough(12 & 5) that I would like to be home at least part of the day.
    We are in NJ and it is getting more expensive everyday, We have looked into
    the westcoast of FL and it does seem we can get more house for the money and my mother would move with me and my father has a house in fl that he goes to a few months of the year. So basically my biggest obstacle in the
    final decision to move is I have 2 years left on my lease AND mortgage on my
    business and haven't come up with the best way to sell it. Any suggestions?
    I loved reading everyones experiences and hope one day to have a happy
    moving story to add. I am concerned though about going back to work for someone else and being tied down to hours that my kids may need me.
     
  20. barkley

    barkley DIS Veteran<br><font color=orange>If I ever have a

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    we are in the process of doing this right now. not entirely motivated by the cost of living, but the impact the cost of living has on our family. the town we live in is tiny by california standards, but crazy housing prices have made it a popular and rapidly growing choice for folks who work in the san francisco bay area. as a result alot of kids around here are unsupervised from 6 am till 7 pm (or later) at night, and they tend to get bored and into trouble. our nice quiet town has had an increasing problem with kids and minor crimes, and we just see it getting worse as those kids get older. with long distance commuter/home owners there is also not the close knit neighbor thing-people barely get to know each other.

    we sold our house a few weeks ago for almost 3 times what we paid 7 years ago, paid off all our debt and have banked the rest. while we search out a new state to move to we are saving loads by renting (another problem with living in a rapidly expanding town is the drain on existing services-which our town remedied by imposing insane property tax increases and bonds on homeowners).

    we know we can buy outright in another state and still have enough such that dh can opt to not work a while (i'm retired) or return to school. but we have an advantage that many don't-my retirement package includes full medical and dental for the family which travels with us coast to coast-without that i would'nt be likely to ever move.

    i don't worry so much about the "family" issues-although the bulk of both sides live within close proximity we are not big on spending time together (and frankly dh and i both feel our moving out of state would force some sibs on both sides to "step up to the bat" with helping parents out-we always seem to be the ones everyone knows will take care of everything).
     
  21. Steamboat Marti

    Steamboat Marti <marquee><font color=purple>Chick-In-Charge Wannab

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    Thank you! You understand probably more than anybody why we moved. So many people are leaving the Island, its a shame.
     

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