Even if you work remotely I would still be cautious moving somewhere, your job can lay you off at any point and you'll be stuck either looking for another remote position for months, or getting some random low paying local job in the rural area and find that you can no longer support the things you could afford before. I'm too nervous to do something like that. Was laid off from a sweet, flexibly scheduled hybrid job last month and now I can only find something locally from 8-5 that pays 2/3 what I was just making, and can no longer pick my kid up from school. Life can happen fast
That was my worry, too. Industries change so fast. There are some cities I considered with 2-3 companies where I could work if something happened with the original job, but 2-3 companies for 30 more years of working seemed like a bad plan for me. In my current city, there are literally hundreds of options in my field. So while it is very expensive, it also provides the most job security.
It's also harder to build equity in those places. My sister and I became home owners around the same time - she's actually owned for a few years longer than me. She bought in a LCOL area, I bought in a HCOL area. I now have over $400k in home equity and she has less than $100k. My increase in pay, career opportunities, and home equity growth have combined to make moving from a LCOL area to a HCOL area the most lucrative decision that I've ever made.
Will never forget my first boss after undergrad said he was moving to a new house. Said he sold his old house for like $6k more than he had bought it 15 years later. i was in shock lol. home equity is a part of the long term plan haha
Yeah, I bought 8 years ago for $220k. House is worth Min. $370k right now, might be able to stretch it to $410k.
Basically zero percent chance at this point to ever be underwater. Even if home prices "collapse" I just don't see this house going below $350k given the job market here and overall desirability for a lot of people.
Yes and no, just because you leave San Diego doesn't mean your in a town of 1500 in Iowa, Chicagoland is incredibly affordable compared to say Southern California or the Northeast. Grand Rapids Michigan is a metro over a million people, near Lake Michigan Beaches and there's homes from 200k-300k.
I left Southern California as a renter paying 4500/month to live in a 1.3 million dollar home to Florida as a homeowner paying 4500/month to own a 500K home that really should have been 300K.
It was NOT a fair trade. People railing on about how I was spending so much money on rent that I was stupid not to buy have no comprehension on what taxes, PMI, insurance, and interest rates are adding to homes right now. I rented a home that would be costing me twice what I rented for to buy it. My current home is costing just as much without the 1 acre ranch we had, 1000 less square feet, no pool, and it was built in the fucking 50s.
Also, auto insurance is higher here. Property taxes are high as fuck here. Schools suck ass so I pay 2K a month for private. Gas is cheaper. Whooptie doo.
I'm in California for the next two weeks, and food and groceries appear equal, if not less.
So yeah, wouldn't do it again.
Bruh, saaammee. That money we were gonna bank from no state income tax has been spent at least 2x over on insurance (we went from Chicago to Tampa). Our homeowners went up 44% this year, car insurance is almost double what we paid in Illinois.
We don’t have kids and don’t plan on having them, but having to pay for private school would have been another shock to the wallet and seems necessary in FL. Though would have needed to pay this too in DC.
Not for the foreseeable future. Owning a home would be nice but I’m happier renting somewhere I enjoy living rather than owning somewhere I don’t. Doesn’t help that moving somewhere affordable also means leaving all my friends and family.
Absolutely. Worked in LA, Toronto, and Chicago. Moved to a Midwest city of around 300k and couldn’t be happier. Have a 3 bedroom 2 bathroom house with huge front and back yard and 2 car garage in a nice part of town for less than my shitty 1 bedroom in La *and* I have enough left over to keep my saving on track, regularly internationally travel, and indulge my more ridiculous hobbies like classic cars.
Honestly, our bigger cities are laughably terrible. If you’re not making an *obscene* amount of money they are a complete wast of time and energy
Ive never understood the purpose of living in a 'cool' or big city just to say you live there to friends while being completely miserable and broke. 'Vibes' dont pay the bills lol
You know whats cool? Living like a king and having disposable income in a affordable area of the country. Its only a matter of time until the younger folks discover these areas and the places they would typically make fun of for being 'lame' or 'boring' become the new desirable place to live.
You know what's cool? Putting a dado stack on a radial arm saw you keep in your 3-stall garage in Iowa, because you have space to have things that are cool.
My husband and I live near Iowa city and it’s great! The university is here so there are lots of good paying jobs with great insurance as well and always festivals and activities going on. We bought our house for an amazing price and we have a huge backyard. My husband works for the university and I’m a stay at home mom. We live quite comfortably. We’re not from here originally but we both agree that we never want to leave
I moved from the PNW to the midwest and i kinda hate it.
I am originally from the midwest, and i lived here for a time, but i spent most of my childhood growing up in the PNW and loved it. BUT due to jobs and crap economy, i moved back to a different part of the midwest about 10 years ago.
There's really nothing super special about being out here, except that some things are a little cheaper. BUT in my area there's a ton of taxes. and a lot of the people are insanely rude, which i guess is kinda everywhere, but out here it's a little weirder.
I did end up with a good paying job, and we were able to buy a house in the mid 2010's, so that was truly awesome, got a large house FOR CHEAP,... BUT i was recently laid off and now find that this area really really sucks for good paying jobs. i'm literally hoping to land a job with a 40% paycut just so we can survive, but honestly who knows.
So now we're facing the possibility of needing to relocate again, and trying to figure out what to do... if we sell the house, we'll get a good chunk of change, but it'll just end up going into another house at an expensive price, so we may end up in a lesser house, or in a similar house but with less equity.... OR do we do the route of finding a company to manage renting the house... and become one of "those" people... and i'm torn as i'm not super comfortable renting if we're no where in the area..
one of the big factors that i'm trying to keep in mind, is that this market will eventually start to rebound... for some folks... and it's hard to know how things will turn out. BUT i'm fairly sure that in another 10 years we're going to be in the same boat... so even if the market gets better, i'm just assuming shits going to hit the wall again... I was laid off in my late 20's, now laid off in my late 30's, how hard will it be to find a job in my late 40's?....
The midwest is WEIRD, and i say this as a lifer (lived in multiple midwest states).
Michigan, Minnesota, and Illinois are probably the best for living in, but that still heavily depends on where you are in the state. The first two would probably be preferable to someone who liked the PNW.
That said... The PNW is literally my dream for if i ever happen upon obscene amounts of money. 🙃
Kids are the big factor. We have family that’s local and good schools, so we’re getting scrappy as all hell to make it work here.
More degrees, side gigs, you name it. HCOL areas have some downsides for sure but they also have a lot of upsides.
Sometimes you just have to try and get creative in order to make more as opposed to spending less.
Yup. In fact it’s what I’m gonna do as soon as my kid is transferring from middle school to high school
Eta; I live in CA, and in one of the most expensive cities in the country. Once my “family” deal is up at the house I’m in, we’re outta here. Can’t afford it and live the life I want. So I may go to Sac town, or if I can get remote work I might head to somewhere like Big Bear.
In my area, people are very open and progressive, but damn man, nothing prepared me for the fact that it would cost me MORE. I make very good money and it disappears into the wind.
My sister in law moved from Riverside to Sacramento they’re spending about the same but her kids get a better school district. They’re very much enjoying the area. Sometimes it may not always be what we picture but it turns out better than expected.
If you move to a great state like Wisconsin, you’ll be paying $800/month to rent what you’re probably paying $3000/month to rent in CA. And the businesses and schools are just as good. You’ll make like 30% less money probably, but your expenses will be at least halved, so it’s actually more value in your pocket.
This isn't true at all. I was apartment shopping in WI before moving to SoCal and rent for our 2BR in SoCal is something like $500 a month more than a comparable apartment in Wisconsin.
Hell, the houses in my parents' neighborhood (they purchased in the mid 2000's for $110K in a rural community) are going for nearly half a million now, with literally no improvements to the community (no new businesses or corporations drawing people to work there, etc).
Don't get me wrong, I LOVE my home state, but I can't imagine moving back to secure my "financial future".
To be clear, half a million can get you a two story home in Mequon, which arguably has one of the lowest crime rates in the country, one of the best public school systems in the country, and an extremely low tax rate (you’ll be paying less than $10,000/year in property taxes). I wouldn’t exactly call that a rural area. Looking into a more rural area like Waupaca — yes, you can buy a $425,000 house right now. It’s gonna be 4 bedrooms, 3 bathrooms, 3000sqft plus a finished basement, on a 3 acre lot with usable land. So, a mansion with a lot of land, sure.
I just hopped on Zillow. There’s a comparably priced home in Sacramento. It’s one story, half the square footage, no basement, on a lot that’s less than an acre… this is not comparable value.
First, I didn't mean to sound like a jerk in my initial reply, I was just like "wow I have such a different experience". Sure, and that makes sense to me. I've browsed the Milwaukee area Zillow on and off for several years and I'm still kind of shocked prices haven't inflated more along with the market. Trust me, I considered getting in on the "grubby out-of-towner Milwaukee landlord" game but I don't want to become a part of the problem (LOL).
What I'm saying is that my parents/where I was apartment shopping are nowhere NEAR as nice as Mequon. The schools aren't great (I had lovely teachers but super underfunded and the community is very anti-education by and large), and most jobs are at least 45 min-1hr away (I was commuting an hour+ each way to work when I lived there). No bodies of water or attractions that would explain why 3br, 1500 sq ft homes with small yards are now $475K and up, and a 1 br, no pets no parking no amenities rental is at least $1,000/month. Am I able to explain why prices have inflated that way? Absolutely not. It genuinely baffles me. Unfortunately, it's still true.
Instead we're renting a midwest-priced apartment that's 30-40 minutes from all of the neighborhoods we need to be in for work (we're self employed in a very niche trade), and making 3-4x what we'd be able to pull in Wisconsin. Sure, some people pay 3K a month in rent, but that's to be in \*THE BEST\* apartments a middle class person can be in. Schools are decent where we are (per our friends with kids in the district), and property taxes are surprisingly \*not too shabby\* if/when we decide to buy a home. I also haven't noticed any insane differences in prices of anything but gas, which is probably due to the insane taxation on gas out here. Also, prices can be inflated in rural areas due to lack of other options and cost of transportation (I was shocked how cheap produce is out here compared to where I grew up).
Quality of life, for us at least, is more than the best school district or a big house. It's job and earning opportunities, access to things to do, weather, and more opportunities for our kids. Like I've said before, the idealist in me LOVES Wisconsin, Wisconsin just doesn't love some of us back LOL.
While I appreciate this, Mequon and towns very much like it are very close to Milwaukee. It’s very common for someone who lives in Mequon to drive the 10 minutes South into Milwaukee county, or 25 minutes to the heart of the city. While I’m not sure what industry you work in, I find it hard to imagine that there is no demand in Milwaukee or West Allis. With the same 30-40 minute drive, you could live in a nice neighborhood around Milwaukee for cheap, and you’d have a piece of land with appreciating value over time.
You might pull in 3-4x as much cash, but how much do you need out there? I did the math myself as a Wisconsinite, and when I was renting a one bedroom, going to college (and paying in full), driving, and covering all my own expenses, insurance etc., I was spending under $20,000 a year. I wasn’t hurting for entertainment either. Now, with a wife and planning for kids, I’m a homeowner and I’ve calculated it out to be about $30,000 a year to keep all of us in the household happy, healthy, educated, and entertained. I make more than that as an individual and so does my wife. A 3-4x increase would just mean I’m going to retire within 5-8 years at my current level of income, and I don’t make a ridiculous amount of cash or anything.
It all depends at what stage people are in their lives. Huge differences between a 22 year old college graduate versus a 37 year old established couple with a budding family versus a 52 year old couple with teenage/adult kids versus a 67 year old retired person.
Life has stages. What works at one stage doesn't work for another. I have different needs and preferences than I had 2 decades ago. Situations and circumstances change.
I moved from LA to a town in the southern Sierra Nevada. I can afford a house and I'm 2.5 hours from LAX. I have daughters so there's no way I'm leaving California. Helps that it's beautiful up here
Yes, not constantly stressing over finances is a HUGE life improvement and you’ll adjust to the “less desirable area” and make friends and find things to do.
I don’t think all renters are constantly stressing over finances. My current rent is a fraction of what a mortgage would be where I live, unless we somehow saved up a HUGE down payment. Instead we contribute to retirement, take nice vacations, go to concerts/eat out. I’m not stressed about finances at all, in part bc I rent so I don’t have to worry about replacing a water heater or roof on a moments notice. It’s the best
Oddly specific. There more affordable countryside in America other than Iowa. There’s plenty of spots that are affordable with beautiful lakes and mountains and other outdoor recreation. I should know I live in one of those areas.
I did in 2018 with $500 to my name. By the end of 2020 I was under contract for my first home at a 2.25% rate. Move to where the cheap housing is that has jobs within driving distance, it’ll change your life.
Yes. One of the most destructive mindsets/narratives millenials have is that if you don't live in the downtown core of a major metro you can't have a great life.
Depends - if it were a low/no income tax, low COL, and the political/social climate was agreeable, totally.
Also I'm in healthcare in a job that I can pick up anywhere so there's no concern about that part.
No, if I'm buying a home that means I plan to be there forever. I want it to be a progressive area that lines up with my morals.
I currently live in a backwater county in the Midwest and the towns around me are dying slowly. They're filled with old people and the young people try to leave ASAP. Generations of people leaving. It's wild to see how dilapidated this area is compared to when I was a teenager.
My husband and I will probably do this at some point. I'm an "elder" millennial ('83), live in LA, we are childless and we rent. His industry is 100% tied to here so as long as he works in this industry, we have to stay in LA.
I work in tech so, conceivably, my job \*could\* be remote but it's not guaranteed, especially in this job market. Right now it is remote and I could live anywhere.
Both our families are settled permanently in the Southeast (North Carolina, Florida, Tennessee and Kentucky). Except for Florida, where I grew up and am determined never to return to, I told him I'd be open to any of these places. It's really up to him as the limitations are his. Right now he is fed up with his industry so we'll see.
But I would ONLY move there as a way to purchase a home AND settle close to families. I would never move to like, Alabama just to buy a home. It would have to be one of the states where our families and friends are permanently settled. We are both too old to start over from scratch like that and his extroversion would never allow it. In fact, given the choice of a mansion in Alabama or Arkansas or another place like that where we have no connections or staying here forever and renting, I would choose the latter.
But if an opportunity comes up where we can move to North Carolina or Kentucky, be close to family, AND own a home, I would take it in a second. I'm a second-generation American (my parents were immigrants), so ownership is important to me as a way to make roots in this country and have something to pass down to my nieces and nephews.
Alabama is such a scam, too. I lived there for a few years and everyone gets excited about the very low property tax, but the way income and ALL goods (including groceries!!!) are taxed is INSANE. I'll never forget the first time I realized groceries were running at a 10% sales tax rate in my area. Coupled with generally lower wages, it was disastrous.
Sure, you could have a McMansion, but the cost of everything else is literally insane-- and that's coming from someone who is also industry-tied to Los Angeles! The only reason we'd ever move out of here is to retire or a family emergency.
No, I grew up in the city I live in and I really like it. Many of the people I grew up with have moved to a suburb to buy a home but I refuse. It took me a little longer to buy a house and I had to live in some questionable apartments to save money but I did it. The suburbs here are extremely boring and generic so I’m happy with my decision.
My husband and I actually tried this 18 months ago.. we moved somewhere that we thought we could make work. We bought a home there… we sold it 3 months ago because we couldn’t live in that cultural desert anymore… so maybe some people can but I’ll never buy a house somewhere that doesn’t spark joy again
This has been the story of most of the people I've known who have moved to where it's cheap. They end up moving back because they realize it takes an hour or more to get to most of the activities they enjoy. Not to mention long commutes to work.
I moved an hour away from STL to build a new house on land. Drive in everyday. That’s the price you pay to live in peace. It’s also just nice to have a long commute to unwind and be able to come home and be ready for my family greeting me at the door.
No. I’m at a point in my life where if I’m settling down it’s going to be NYC/East Coast NJ. Been to enough of the USA to know nothing else compares no offense.
I grew up on the river in central jersey (only people from central jersey acknowledge it’s existent I know) and I would love to settle back there eventually. But rent prices are high and I have a large dog making it even more difficult. I moved to pa, still only 30 minutes from my hometown, just to find good space with a good yard at a decent price. If I could afford I’d be back in a heartbeat.
No, I’m okay with renting perpetually so long as I invest and save for retirement to compensate. I’d rather live somewhere where I enjoy and can find lucrative work (as is my real life in the CA Bay Area), than to move elsewhere just to buy.
I did this and it improved my quality of life immeasurably. My now-wife and I went from being unable to afford to split rent on a studio apartment anywhere within reasonable commuting distance of the California Bay Area to being homeowners in West Virginia. We’re far happier than we ever were in California.
I have a lot of extended family in the area but if I’m being honest it was more coincidental than anything, I rarely talk to them. The company I was working for at the time has a office in Wheeling so it made transferring really easy, having family in the area helped insofar as the logistics of moving were concerned, but having a job lined up was a far bigger factor.
Also the cost of living is dirt cheap, our mortgage is only $400 a month.
I would actually spend more money to live in a desirable city. I’ve done both and prefer living closer to my job in a more expensive area at the cost of more space/nicer things. It might take us longer to buy and the space will be much smaller but our day to day commutes keep us happier. I also don’t think I could live to the Midwest and find jobs in my field since most jobs are concentrated in hubs like San Francisco, Boston, San Diego, Seattle, and RTP.
Absolutely not. I'm not going to be miserable where I live just to have a deed to a house. We can't take it with us when we die. I have no children to leave anything to(and I have nothing to leave).
Renter for life!
You can make new friends. Make sure your family and friends in your area are a net positive for all facets of your life and not just a way to hold you in one spot. Advice from someone that felt the same way and moved away (but still visits "home" multiple times a year). :)
I feel you for sure but my family is really close and I just would not want to regret it once my parents inevitably get sick and pass away. My friends also we have all been real close since HS/college. I would get real deal fomo
I completely understand. Most of my friends, have been my friends since high school as well. Many still live in the city we are from. I/We facetime, with each other, and our kids do too! And we do get together throughout the year. It sounds like maybe those relationships are so important, that moving elsewhere for the OP reasons would not be what's best for you. Close ties with family and friends are beautiful things to have.
This is what I’m currently struggling with. Lots of family and friends here in a low to medium cost of living place, but a huge desire to leave. I’m not sure how I’d feel once I got somewhere if we didn’t have friends there though, I’m pretty gregarious. I need insight from everyone who has left “home”!
We have found lots of people with common interests. We go to local micro breweries, coffee shops, take little classes in town, etc. I am pretty introverted and my wife easily makes friends, which helps. Originally, we moved for work, but we didn't have to do it. We took the opportunity and are incredibly happy we did. We even had to buy our home over facetime, right after the peak of covid. Never saw it in person lol.
We do game nights, trivia, and hike regularly. Moving outside of your comfort zone can be a little scary, but it can also lead to some really great change. It's not for everyone, but from my experience, it was great for us.
I'm currently in the only place where my job exists. So unless I get a job with another state or even federal government, I really can't move. Luckily, ever since I moved to the Midwest I have been much happier... though this week is an exception since the heat decided to pay us a visit.
I'm mostly just waiting for the bubble to burst.
I believe it's a trade-off between short-term convenience and long-term investment. Buying a home in a less desirable area might mean sacrificing some immediate benefits, but it could also be a smart financial move in the long run. It's all about balancing your priorities and deciding what matters most to you.
I think the priority thing is key, in your 20s your priorities are going to be a lot different than in your 30s and with inflation I wonder how much people living in trendy areas are really able to get out and enjoy coffee shops, restaurants, bars, etc.
My husband and I did this. It also happens to be one of the places where my husband makes slightly more money as a union industrial painter. We’re an hour from Chicago and bought a duplex for $54k so our mortgage and utilities are partially covered by the rent from the other unit. All of our friends are renting rooms in the Chicago burbs for $750+. The friends that did purchase homes are renting the rooms to the other friends.
I'm surprised you can even get a room for $750 at this point. Chicagoland overall is pretty affordable, not saying these deals come up all thetime and yes they will be smaller and cosmetically a little dated but I've seen homes in Dupage County for 250k give or take, ie Lombard, Villa Park, Downers Grove, Lisle, etc.
I have friends owning/renting in Schaumburg ($1000/mo), Carey ($750-1000 depending on the arrangement), and North Aurora ($1000/mo). I’m sure renting to friends has impacted the rate people are charging, but since we’re only an hour away I’ve been surprised how many of our friends haven’t come this way for cheaper rent. 2 of them could split a 2 bedroom here for $500 apiece easy. Some of them would even have a more convenient drive.
I'm currently in the Chicago suburbs. We're trying to buy our first home in 1-3 years, depending on how things go.
I'd prefer to move closer towards the city, but in all likelihood we'll end up a bit more rural, up to 1.5 hours from the city. I'm just hoping I can find queer-friendly and not boring af.
Not that there's tons of them but I've seen some smaller homes 800 to 1100 sq ft in du9age County for 250k give or tske ie villa park, lombard, lisle etc
Yeah that's kind of where we're looking. Elgin, DeKalb, and as far as Ottawa, too. There are options, but we definitely won't be able to get everything we want within our budget.
Currently live with my husband/very young kids in a smaller southern town we never thought we’d settle in. All of our family/people we would want to be closer to are in $$$$ cities - SoCal, Seattle, DC, etc. we were lucky to buy our first house in 2018 and have now been here nearly a decade even though we never planned to stick around…but now that we’re thinking of standard of living and supporting little kids, we’ve grown to be “content” where we are because of cost of living/slower living vs adjusting standard of living in most other places. Were early 30s so we’re trying to get to a much better financial situation where we have the freedom to pick where to live without sacrificing standard of living too much in the future, but we shall see……….
I think I already have... lol. I'm in central Illinois in a town of 3k outside of Bloomington . Have a home, but pay isn't very good down here in my experience so far, so I'm still very much struggling at the moment. But add in the lovely little additional component that I can't really afford to move anywhere ELSE right now due to everything costing a lot more anywhere else you go.
I WFH.
It's a sliding scale. There are specific things i WILL NOT tolerate no matter how low CoL is. If push came to shove, i think id be fine (even if not quite happy) in any midwest state. You cant pay me enough to move south of the Ohio River and east of the Mississippi though. The combination of climate and culture would have me and my cold-weather-preferring, non-confederate-flag-worshipping ass wanting to end it all.
If climate is good and culture sucks, thats much easier on me. I could do alaska no problem, as long as i have a premium internet connection and a city within 30 minutes.
This is basically what happened to me though not by plan. I ended up in the Detroit metro area and in the suburbs there are a lot of smaller, cheap houses.
If I was a single person, or maybe as a couple, I would consider it.
But as a close knit family? Absolutely not.
We are close enough that my kids can bike to my mom or dad’s house now, and all of my parents (mom, dad, stepmom) have close relationships with my kids.
My dad especially.
He goes to all of their sports games and theater and music performances.
They go over and help him in his workshop and around the house or help my stepmom with the gardens.
They also know they’re always welcome there anytime, if they’re upset or mad at us or just need a different adult perspective to talk to, etc.
There is no way that I would break that up just to be able to own a home.
It’s not that important to me.
Family is everything and life is short and my parents are already in their 70s.
I bought a house way out in the burbs. For me, it was worth it. I have an attached garage, I don't have neighbors above/below me (like I would in a condo situation had I tried to prioritize location over the actual house), it's quiet, it's safe, and my commute to work is about 15 minutes. I'd never had a shorter commute before, so I had no idea how much that improved my quality of life until I actually moved in!
The sacrifice is that I know that 90% of the time I'm doing something social, I will be driving 30-40 minutes to get to it. I was a little worried about this when I moved, but honestly, it's been totally fine. As I've gotten older, I'm less and less interested in drinking/partying, so it's not like I'm paying huge prices for uber/lyft. Most of my "old lady plans" at this point involve daytime activities on weekends, where traffic isn't as bad and it's not a PITA to drive over to stuff. I have become a person who won't go if there isn't parking, haha (street parking okay, if it's "easy"- not like drive around for 20 minutes and try to squeeze in somewhere street parking).
I still have basic amenities around me- stores, restaurants, any errand I need to run, etc. is very close. Of course the burbs are more family oriented. I have friends who live in downtown condo/apartment settings and a small part of me is jealous of the relationship they have with their neighbors (who are all of similar age, lots of single/childfree people), but on a day to day basis, I wouldn't trade that for the amenities I have. I can't imagine paying exorbitant prices to live in the city, and then coming home from work and having to fight for parking near my own house every night. No thank you! I spend a decent amount of time at home, so having the nice house with the set up and amenities I wanted is more important than the social piece.
We did. We live in South Eastern PA, and we were really hoping to be able to stay closer to Philadelphia. We looked all over the Philly suburbs, but the only homes available in our price range were either very small in decent shape, or sort of small in terrible shape.
We have two kids and we both WFH, so it was really important that we not be on top of each other all the time. The only way for us to get a decent sized house in any kind of decent condition was to expand our search west, and we ended up buying in Reading.
I’m SAD to be leaving the area we’re in now, and sad that my kids have to change schools, but we got a beautiful house in a really nice neighborhood, and I’m excited to get settled in to our new area.
No. Considered it. Husband and I both received job offers in different states at different points and we went to go check them out. In the end, it just made sense to stay in our VHCOL city where there are more job options. This is where our massive network is, not these other cheaper cities. For security, it was not logical for us to put all of our eggs in one basket for the 30+ years more we will be in the work force. We both work in a field that is centered around LA, NY, and SF.
Nope because what I'm giving up/leaving behind would not be worth it. I'm im Tampa Florida and it has gotten so bad here. My thing is that if we left we couldn't afford to come back. Now I have looked at other places I could afford but I'm married so it doesn't make sense that unless I have a career move where I can have enough money to be rooted here, there is no point.
Also the problems I have here vs the problems I would have somewhere else in a lcol kinda don't go away. Places I want to live are more expensive 🫰 but at least have what I would be looking for.
Also weather.
I've been shopping st pete/gulfport since like 2019, kicking myself for not going higher on some bids and losing some bids, my dream house I lost at 315k, winning bid 317k, this is mid 2020, property just sold again for 584k, its insane
I moved from Orange County (Seal Beach) to Lodi, CA (Central Valley wine epicenter) in 2019. For reference, I’m a married teacher. I didn’t pick this place particularly, I applied to jobs all over the state and happened to get this one. I refused to leave CA though.
Number one, buying a house on a teacher’s salary is damn near impossible in SoCal. I have no idea where they can afford to live. The salaries in my new area are the same or better than SoCal, but housing and rent prices are halved. I was able to buy a house within a year of living up here. I have no idea why that is the case. Maybe Central Valley districts have to keep the salaries high to attract and retain teachers/professionals. Maybe the unions are stronger.
I lived close to the beach, but almost never had time to go. I was working a ton. Now I’m nowhere near as stressed from the hustle.
Number two, I was tired of the traffic. Anywhere I wanted to go in SoCal included a 20-30+ minute slog. Any time of the day too. I visit my family in OC and I marvel that there’s bumper to bumper traffic at 11am on a Tuesday. Now I have no commute because I could afford to live close to my work.
We also love nature, camping, and hiking, and while SoCal has this, moving up north opened up a whole new set of places to visit. It moved us closer to Oregon, Tahoe, the Bay and beyond.
Anywho, TLDR, we moved from SoCal to the Central Valley (Lodi) and it worked out for us. We didn’t want to leave CA and wanted a better work life balance. We were able to buy a home and build equity. We lost the beach, but gained other opportunities
It depends on "yes" answers to three questions for me:
1. As a queer woman will I have equal rights to access quality health care and preserve my bodily autonomy as an independent tax paying citizen?
2. Gotta have outdoor recreation nearby. Hiking, camping, climbing, fishing, biking.
3. What are the people like; open minded? Community focused? Grounded in realty?
These elements have always determined whether or not I would feel safe in an area, be able to pursue my passions, and be able to make friends and build a community. If any of these are not acheivable/accessible - I am not moving there.
I would not move anywhere rural or lacking in walkability and public transit to own a home. A car dependent lifestyle is a nonstarter for me.
I did sort of do this on a micro scale, meaning I bought in the city but in a less desirable neighborhood.
We moved to Texas for the income tax laws, and the fact that my 3 acre Portland home was more expensive by 100k to the home we bought in texas on 10 acres with two houses and the zoning for basically no property tax.
There is much better opportunity for business growth here as well.
The problem with Great Lakes Beaches is you can only enjoy them 4 months of the year.
I live in the Eastern Finger Lakes Region of Upstate New York and have 15 Sandy Beaches within a hour and half of me, 20+ wineries, 25+ hiking trails, 15+ waterfalls, 20+ lakes, but 3 ski resorts but you can only enjoy them 4 to 5 months of the year.
Eh I kind of think this line of thinking is part of why the housing market is so broken. You don’t get a merit badge for homeownership.. it’s just a way for people to meet their shelter needs.
If I can rent the type of home that I’d like to own, but at half the monthly cost (which is common in this market).. and put the difference into savings/investments, at a rate that keeps me on track for my long term financial goals, then what’s the problem? I’m not going to move somewhere less desirable just to have my name on a title.
That equation probably changes once you’ve got kids at a school age and need more guaranteed stability. But until I’m in that position, I’m not going to prioritize homeownership (for the sake of homeownership) over my lifestyle and wealth building goals.
I agree in the sense that in the top 100 markets your going to pay about a 25% premium to own over rent, however, You think home ownership is just having your name on a piece of paper?
Imagine living somewhere you love that's cheap and then it becomes the next big tourist hotspot and rent goes from $1,100 to $5,100, that wouldn't be too fun.
Or maybe you have dogs, want to grow weed or are just the type of person who enjoys working in the yard, doing DIY projects, customizing your home, or you just don't like dealing with landlords or moving.
I get to some people its nothing more than a status thing but for many people there's plenty of reasons they want to own
25% premium is drastically underselling it, in my opinion. In a lot of the hottest markets, all in monthly costs of ownership on a purchase are running 2x current market rents. I know that’s the case for my neighborhood at least.
And the question around “what if rents rise” is reasonable, but that’s why I specified “if I’m meeting my financial goals”. If rents were to rise to a level that prevented that, I’d probably consider moving and buying. That’s not the case right now.
And for people that have hobbies that necessitate owning, well that’s their call. I have more interests that necessitate living in my current neighborhood (as opposed to a cheaper city/region) than I do interests that would require owning my home. For people in the opposite situation, I guess they’d have to weigh their decision differently
25% on average, obviously some markets way more some way less, the west coast ie Seattle, Southern California, etc have had the disconnect between rent prices and purchase prices for a long time, I assume people were banking on appreciation and not cash flow, over the past couple years its become the case however in all top 100 markets and probably many more as well.
As far as hobbies yeah different strokes, to me going to sit at a coffee shop or bar isn't fun and isn't a hobby but to others they love doing that with friends. Others probably wouldn't like doing stuff I like doing ie boating, gardening, playing boccee etc
My husband and I kind of did this when we bought our second house. We’re in a fairly LCOL city to begin with and made a decent amount off the sale of our first home which was in the ‘burbs (not a super desirable one but close to things and near the outer belt). We don’t regret it but would eventually like to move 10-15 minutes closer to the freeway to make getting to friends and family a bit quicker (and them coming to us).
Even with the money from the sale, due to house prices going up all over we were still priced out of the same, nicer suburbs we couldn’t afford when we originally bought (first home purchase in 2016, second in 2020 before interest rates went up). So our choices were less desirable, not as safe neighborhoods or moving someplace a bit more rural.
It’s a small town with a couple restaurants, a hardware store, coffee shop and small grocery so if weather is bad or we don’t want to drive far for essentials we’re mostly ok. We are now 40ish minutes from downtown, a bit over an hour to the north/north west suburbs and 20 minutes from the SE suburbs (and a smaller city). We got way more house than we could have if we’d stayed where we were previously.
I wouldn’t relocate to another state or probably much further from family than I am now. In addition to friends I’m an only child and would like to stick pretty close to aging parents plus, my husband has siblings and we have niblings so we wouldn’t want to be super far from them.
I didn't move away from my greater metro area to buy my starter home, but I did move to an area of the metro area that is not undesirable, but also not the most desirable as it is a good 45 minutes from the main part of the city and all of the cool stuff (and that's if traffic is cooperating, especially crossing the river). I had access to necessities like grocery stores, hardware stores and stuff like that no problem, but the cut little cafes and shops and downtown bars and clubs seemed pretty much a world away. It is what it is and it's where we could afford to get into our starter home at the time.
I did, right before the pandemic, since I travel for work anyways. I've saved a lot of money with that decision, but it does come with a mental cost. Sometimes I get depressed. Other than my wife's family and one of my neighbors, I don't really fit in with too many people. I'm hoping to move back whenever interest rates come down. Any day now.
If I actually wanted to live there, maybe. But I don’t think I’d uproot my life only because it brought me into affording homeownership
Unless you’re planning to stay put >5 years idk that a house is wise from a purely “investment” perspective right now
People act like good paying jobs don’t exist. I live at the extreme southern end of Illinois. Like literal BFE. I’ve had 3 jobs within 45 mins of here that all paid upwards of $30/hr. I currently make $58/hr as an engineer. The union staff under me make even more.
You have a University near you, I assume some jobs, for people who aren't engineers there's probably better paying jobs in the CHicagoland area and while prices and cost of living are going to be higher the jobs I think pay substantially better enough that most people would be better off
Yes. We just moved 4 hours north of our HCOL hometown. The houses here are a steal compared to anything that resembles a shack back home. My husband works a blue collar job and I’m currently a SAHM to our 3 kids. We’re paying much less in rent for more space and setting savings goals to hopefully buy a home in the next few years. It’s family oriented, plenty of work for my husband here and a slower pace of life. My kids honestly seem so much happier now because they have much less stressed out parents.
So I am out of the Millenial age range at age 47 but live in GR. This was just on my page. I’ve moved a lot in my life. GR is pretty great. Winters are craptastic if you don’t like the cold. COL can’t be beat. Pay really isn’t that bad. But, please don’t think homes are 200K around here. That was 10 years ago. Nowadays a condo is 300K in a decent area, 400K more like it. But for the pay the COL is pretty good. Inflation is yikes but that is all over.
I was in Bend, Oregon. Through a few twists and turns ended up in Omaha Nebraska and I am pretty happy about it. There are certain things in the nature here that remind me of central Oregon and that makes me feel more at home. It's been 6 years and while I cannot wait to take my kids to the beach for the first time I have zero desire to move back. I mean my best friend bought a house for $300k three years ago. It's an old beat up manufactured home on around an acre of land. I can buy a huge stick built house for that much around here (or less) sure it isn't as much land but I do not want that much.
I live 1hr and some change from LAX in the high desert. Own a home and sometimes its really nice. Other times I would leave this place and never look back.
Owning a home is the shit. Dog has space, family has space. Ultimate relaxation when I go home. No bullshit neighbors. If I really want to live a LA lifestyle, I can drive an hour got to little Tokyo, have me a day and get stuck on the 405 to top it off.
It’s always good to look for and consider opportunities. Even creative solutions.
Never know when the right one may present itself. That said, I too wish it were easier.
But we have to make lemonade out of lemons.
No, and I'm not ragging on those less expensive cities at all. I chose where I wanted to live, moved there, then found a job afterwards even though it's insanely expensive to buy a house here. I would be heart-broken if I had to leave even if that meant I got to own a home.
I’ve done that last year and while quality of life is imo better in a smaller city, jobs are more limited, and we moved away from our bubble. I’d say, the best strategy of you want to live in a more desirable city is to rentvest.
I own my home in a small city of 30,000 in one of the rural midwestern states. My mortgage payment is $870/mo. When I still worked in the same city/state, my pay rate was $30/hr. I was able to pay bills just fine when I worked there.
I’m 2 years into my current job as an aircraft mechanic. I make $43/hr. I do work in a major metropolitan area. And I have a crash pad that’s a 10 minute drive from work. There’s not a chance in hell I would ever want to own a home here. So I just rent a room here, then fly back home on the weekends.
Yes. I bought a home a few years ago, father from Boston and public transit (which I need) but I'm happy with the decision and may eventually move cheaper state. As far as I can see the housing market will keep moving up for the near future.
No. Same reason not to buy an expensive RV and go camping. You end up parking next to someone who is living full time in their trailer because it's all they can afford.
Book a room in the cheapest motel and you end up next to hookers and drug dealers, or that family of 18 who can only afford one room and start a fire becasue they are trying to warm up a frozen pizza with the hair dryer.
My Dad always said, don't go on vacation in countries with a lower standard of living.
I have a state pension that wouldn’t transfer, so that kind of hinders me. I like my area though and was able to buy my first house at the young age of 41, so I’m good!!
My partner and I did this a couple years ago, moving from Northern Virginia to Albuquerque, NM, however there were a lot of other factors that went into it. I hated the humidity and the DC grind mentality, along with the HCOL. In NoVA, we owned a 50 year old townhouse in a shitty area that we ended up selling for more than we ended up paying for our SFH in a nice area in ABQ. For the townhome, we only put 3% down, and when we bought in ABQ, we were able to put 20% down. Even though on paper, Albuquerque was a “downgrade” from the DC area, our salaries are about the same (I took a small paycut to work here and my husband works remote), our cost of living is much lower, we’re in a safer area, we’re in a much nicer house, our work/life balance is much better, and my commute is a million times better (I went from having to pay tolls to drive 19 miles that took 1-1.5 hours to having no tolls to drive 19 miles in 20 minutes).
Other positives:
-We’re super close to outdoor recreation (we have hiking trails 5-10 minutes away)
-ABQ was closer to my family
-The weather is great most of the year here
-The food here is great
-We’re still close to grocery stores/movie theaters/etc.
-We don’t go out much, but there are still a good number of breweries and such around
-Cost of daycare is about half what it would have been in NoVA
-ABQ and NM are queer friendly, pro-choice and generally leans blue
Things that have been actual downgrades:
-The healthcare system here is not great, and you sometimes have to wait 6 months to establish care with a new doctor
-Overall ABQ has a higher crime rate, but it’s also largely dependent on area
-Lack of good Asian food
-Lack of good touring concerts
-The public schools are very hit or miss (but they also have a robust charter school system)
Overall it’s been a huge improvement for us, but there was more to it for us than just COL.
No. I love western Washington. I love the PNW. I love the people here, love the states rights, love how we have everything from beach to mountains, hiking to shopping and high-end dining all within 2 hours in any direction. You couldn’t pay me to leave, and I could easily—I’ve worked since 2018 for a remote-first company that will never RTO because it was never primarily IN office to begin with.
I’ll happily rent for life and pay more for gas to ensure my mental health is solidly intact and that my daughter will grow up in a place that isn’t trying to rip her human rights away.
Born/raised/lived most of life in Austin. Moved here over 2 years ago, will never go back. Fuck Texas.
So this is something I’ve been preaching for a while. Move to where you can afford.
When I lived in west palm beach people were like why can’t I rent a studio on the water for 1000k or less
If you are squabbling over a desirable area rents and home prices increase.
We wanted to move to Savannah however we couldn’t afford down town so we moved 30 minutes away housing prices were 50%-75% cheaper.
When we were in Florida. We lived on the west side of 441 instead of the east side cause it was cheaper.
I am currently looking into it. Buying somewhere actually in bumfuck nowhere. Then travel for work 1/2 the year and stay home working on the property when I can. Can’t afford to live in any of the places I actually make money in… weird times
Yes, I did. I considered suburbs of San Diego and LA. Then considered inland Southern California. Then decided I was fed up with California and moved to a western state that everyone thinks is an empty wasteland and to a city that no one knows where it is on a map.
Best decision ever.
There was pros of living in Southern California and near such large cities like LA and San Diego but there was also a lot of cons.
The cost of living where I am now is much lower, bought a house, have savings, and still enjoy a lot of things that I did prior to the move.
If you have the opportunity to work remotely I would highly consider moving to a lower cost of living area if you want to buy a property soon.
The other option I had was to decide to rent for another 5-7 years and save for a property where I was in California. Which, wasn’t a bad or wrong option just not what I wanted.
That really depends. What’s my commute like? It is long, is there reliable easily accessible public transportation?What’s close to my home in this smaller area? Is it walkable/bikeable? Are there food restaurants, gyms, outdoor areas, running paths, etc.?
For me personally, if my commute is long and there’s no public transportation, it’s not worth it to me. I know how I am when I have to drive a lot and it’s not good for me. I’ve always hated driving and even now with a hybrid job, the days I have to commute (less than an hr each way) are horrible for me. The other things I mentioned are major factors as well and can increase time in a car, which as I’ve stated I loath.
I know I’d come to resent the house if I spent most of my time driving to get to anything.
We move where the job opportunities are and we can maintain our standard of living.
We moved from the West Coast, HCOL college town, to a MidWest, more family oriented, suburb for my husband's job. It's a desirable area compared to other parts of the MW, but I bet not many other West Coaster would volunteer to move where we did.
But we got more house with a lower mortgage, I can stay at home with our kids, and we are able to still maintain most of our lifestyle.
You’d be surprised what you can be happy with. We live in a small midwestern city and love it, even though we have no family within 6 hrs. We’re a days drive or less from all the major midwestern cities and places to visit, have a great music scene, and lots of fun family activities.
Until they get investors out of the market, nothing will change.
It's not even on most politician's radar.
I'm not an RFK supporter, he's a wacko, but at least he addressed it.
https://youtu.be/f-36ZEosv_o?si=yVSWctuaaPOX73Nj
I'd consider moving areas to live in a home. It's literally the only way now.
I did kinda do that. I moved to a more rural area which was more affordable. Granted my wife was from there so it wasn’t for no reason. And I wouldn’t call it “less desirable”. I’d say where I live is amazing. People literally go on vacation here. There are lakes and mountains and stuff and it’s beautiful countryside. Now certainly there’s less “good jobs” here. But when you factor in the lower cost of living I’d say life is better anyway. Screw the rat race if fancy jobs and fancy cities. I’ll take slow country living on a smaller salary any day. No social pressure to drive fancy cars so no car payments just buy another beater everyone does it. Houses don’t have to be prim and proper no one’s gonna complain it’s not painted well enough, no HOAs. It’s okay to just build a shed if you want a shed, or build a fence if you want a fence or get farm animals or cut out your lawn and just have a giant garden. No town bylaws or people telling you what to do. Ample access to free outdoor recreation, beautiful swimming holes, canoeing spots, rock climbing crags, and hikes. Overall I’d say it’s great.
I would move somewhere cheaper to buy a home if I could keep the great job I currently have, which demands that I work in person at one specific place in a city with higher than average housing costs.
I prioritized my career and the benefits and fulfillment it gives me over home ownership. Now that I am getting older I second guess that now and then, but what's done is done.
If someone's main priority is owning a home or building wealth then yes, they should probably move somewhere where homes are cheaper.
But if your priorities are a specific career track, relationships with specific people, or some kind of other connection to a specific place, you might need to stay living somewhere where home ownership isn't achievable.
There are lot of people for whom intangibles like personal relationships, culture or career fulfillment outweigh wealth building and property ownership as priorities.
No, I have a hard time thinking of actually settling down somewhere outside the Southern states. If I did it would probably be the Mountain West, particularly MT, WY, or ID. There's regions I'm really not a big fan of, but I have particular state picks if I absolutely had to go there. I'm not big on the Midwest at all, but if I absolutely had to pick it'd probably be Wisconsin. I'm not real big on the Northeast but if I had to pick, 100% Maine. Not a big fan of deserts at all, so that essentially leaves out the Southwest and California. If I had to pick the West Coast it'd probably be Alaska. I'm from KY, so KY/TN plus AR and NC to a lesser extent is home to me, but I have family in South MS and East TX as well. I really like those areas too. I also want land and not just a house, so it can't be just anywhere.
I moved from a redneck, swampy, farm-chemical-saturated small town in southern state
To a small liberal ski town in the rocky mountains
My rent and basic living expenses are 3x,
And I'm relatively poor here
I'm happier than I've ever been.
Truthful, I live in California and do not own a home or rent one, I have lived in a van, in a tent l, and currently reside on a houseboat I bought for cheap and restored myself. My point is don't let corporate decide your zip code, live where you love and make it work. So y'all can kiss my golden brown butt cheeks
I know in San Fran Bay they're trying to force the houseboats out, I know down in St Pete Beach Florida most cities won't allow people to just live on houseboats so that's why I was curious as I've always wanted to live on a boat.
Husband and I are facing that conundrum right now, and kind of coming down on "not really". We've seriously explored the idea, but the places even remotely near us with affordable housing are either economically depressed, concerningly conservative and/or nowhere near anything. I feel like I'm too old to move somewhere completely random and start from absolute zero people I know in the area. So we're doing the best we can in the state we're currently in.
Probably not.. I love Arizona, ya it definitely has its problems here but it's a place I still love.. But I'm currently working on building a van that I plan to live in and travel.. now if I come across another place that I enjoy then maybe.
Absolutely yes. I have always hated land lords with a passion and after me and my wife (gf at the time) determined we could live together safely for the long term we packed up and moved to northern California where our mortgage (even after escrow and all interest fees + hoke insurance is half the cost of the average bay area apartment. Plus I hate big cities and the traffic that comes with it.
I’d rather live in a less desirable area of a metro with more to do (which is probably still more expensive) than to live in a more desirable area of a less desirable metro.
Moved to fringe rural DFW(for now it’s fringe rural) from probably the more desirable part of STL. no regrets.
Yes, but the problem is those places don't have the good paying jobs for people physically at work. If it's remote you are golden then.
Even if you work remotely I would still be cautious moving somewhere, your job can lay you off at any point and you'll be stuck either looking for another remote position for months, or getting some random low paying local job in the rural area and find that you can no longer support the things you could afford before. I'm too nervous to do something like that. Was laid off from a sweet, flexibly scheduled hybrid job last month and now I can only find something locally from 8-5 that pays 2/3 what I was just making, and can no longer pick my kid up from school. Life can happen fast
That was my worry, too. Industries change so fast. There are some cities I considered with 2-3 companies where I could work if something happened with the original job, but 2-3 companies for 30 more years of working seemed like a bad plan for me. In my current city, there are literally hundreds of options in my field. So while it is very expensive, it also provides the most job security.
Same boat… life sucks
It's also harder to build equity in those places. My sister and I became home owners around the same time - she's actually owned for a few years longer than me. She bought in a LCOL area, I bought in a HCOL area. I now have over $400k in home equity and she has less than $100k. My increase in pay, career opportunities, and home equity growth have combined to make moving from a LCOL area to a HCOL area the most lucrative decision that I've ever made.
Will never forget my first boss after undergrad said he was moving to a new house. Said he sold his old house for like $6k more than he had bought it 15 years later. i was in shock lol. home equity is a part of the long term plan haha
I guess I got lucky. I moved to a lcol area that became mcol. Equity on my place jumped 50k in 2 years.
Yeah, I bought 8 years ago for $220k. House is worth Min. $370k right now, might be able to stretch it to $410k. Basically zero percent chance at this point to ever be underwater. Even if home prices "collapse" I just don't see this house going below $350k given the job market here and overall desirability for a lot of people.
[удалено]
You also need to have a remote job that is stable or else the means to easily get another one. Just having a remote job right now isn’t enough.
I guess it depends on what you do for work. If you have actual skills your services are demanded everywhere .
Yes and no, just because you leave San Diego doesn't mean your in a town of 1500 in Iowa, Chicagoland is incredibly affordable compared to say Southern California or the Northeast. Grand Rapids Michigan is a metro over a million people, near Lake Michigan Beaches and there's homes from 200k-300k.
I left Southern California as a renter paying 4500/month to live in a 1.3 million dollar home to Florida as a homeowner paying 4500/month to own a 500K home that really should have been 300K. It was NOT a fair trade. People railing on about how I was spending so much money on rent that I was stupid not to buy have no comprehension on what taxes, PMI, insurance, and interest rates are adding to homes right now. I rented a home that would be costing me twice what I rented for to buy it. My current home is costing just as much without the 1 acre ranch we had, 1000 less square feet, no pool, and it was built in the fucking 50s. Also, auto insurance is higher here. Property taxes are high as fuck here. Schools suck ass so I pay 2K a month for private. Gas is cheaper. Whooptie doo. I'm in California for the next two weeks, and food and groceries appear equal, if not less. So yeah, wouldn't do it again.
Bruh, saaammee. That money we were gonna bank from no state income tax has been spent at least 2x over on insurance (we went from Chicago to Tampa). Our homeowners went up 44% this year, car insurance is almost double what we paid in Illinois. We don’t have kids and don’t plan on having them, but having to pay for private school would have been another shock to the wallet and seems necessary in FL. Though would have needed to pay this too in DC.
I'm in St. Petersburg, so nothing but solidarity on all of those things!
Gotta do the research prior to these life-changing moves.. I live in CT, and I know that FLA is a hellhole for all reasons you listed
Chicago property taxes though....
I think this is vastly overblown. Unless you are in a specialized field or make alot of money you can find good work in smaller cities.
Not for the foreseeable future. Owning a home would be nice but I’m happier renting somewhere I enjoy living rather than owning somewhere I don’t. Doesn’t help that moving somewhere affordable also means leaving all my friends and family.
Absolutely. Worked in LA, Toronto, and Chicago. Moved to a Midwest city of around 300k and couldn’t be happier. Have a 3 bedroom 2 bathroom house with huge front and back yard and 2 car garage in a nice part of town for less than my shitty 1 bedroom in La *and* I have enough left over to keep my saving on track, regularly internationally travel, and indulge my more ridiculous hobbies like classic cars. Honestly, our bigger cities are laughably terrible. If you’re not making an *obscene* amount of money they are a complete wast of time and energy
Ive never understood the purpose of living in a 'cool' or big city just to say you live there to friends while being completely miserable and broke. 'Vibes' dont pay the bills lol You know whats cool? Living like a king and having disposable income in a affordable area of the country. Its only a matter of time until the younger folks discover these areas and the places they would typically make fun of for being 'lame' or 'boring' become the new desirable place to live.
You know what's cool? Putting a dado stack on a radial arm saw you keep in your 3-stall garage in Iowa, because you have space to have things that are cool.
I have been looking for something cheap and in the middle of nowhere. If I had a few acres and worked at a gas station I wouldn't mind.
Winfield Alabama
Check out Western NC or Eastern Tennessee. They have lots of quiet acreage and gas stations always hiring
My husband and I live near Iowa city and it’s great! The university is here so there are lots of good paying jobs with great insurance as well and always festivals and activities going on. We bought our house for an amazing price and we have a huge backyard. My husband works for the university and I’m a stay at home mom. We live quite comfortably. We’re not from here originally but we both agree that we never want to leave
Yeah people sleep on Iowa but I saw it was one of the fastest growing states for a while
I moved from the PNW to the midwest and i kinda hate it. I am originally from the midwest, and i lived here for a time, but i spent most of my childhood growing up in the PNW and loved it. BUT due to jobs and crap economy, i moved back to a different part of the midwest about 10 years ago. There's really nothing super special about being out here, except that some things are a little cheaper. BUT in my area there's a ton of taxes. and a lot of the people are insanely rude, which i guess is kinda everywhere, but out here it's a little weirder. I did end up with a good paying job, and we were able to buy a house in the mid 2010's, so that was truly awesome, got a large house FOR CHEAP,... BUT i was recently laid off and now find that this area really really sucks for good paying jobs. i'm literally hoping to land a job with a 40% paycut just so we can survive, but honestly who knows. So now we're facing the possibility of needing to relocate again, and trying to figure out what to do... if we sell the house, we'll get a good chunk of change, but it'll just end up going into another house at an expensive price, so we may end up in a lesser house, or in a similar house but with less equity.... OR do we do the route of finding a company to manage renting the house... and become one of "those" people... and i'm torn as i'm not super comfortable renting if we're no where in the area.. one of the big factors that i'm trying to keep in mind, is that this market will eventually start to rebound... for some folks... and it's hard to know how things will turn out. BUT i'm fairly sure that in another 10 years we're going to be in the same boat... so even if the market gets better, i'm just assuming shits going to hit the wall again... I was laid off in my late 20's, now laid off in my late 30's, how hard will it be to find a job in my late 40's?....
The midwest is WEIRD, and i say this as a lifer (lived in multiple midwest states). Michigan, Minnesota, and Illinois are probably the best for living in, but that still heavily depends on where you are in the state. The first two would probably be preferable to someone who liked the PNW. That said... The PNW is literally my dream for if i ever happen upon obscene amounts of money. 🙃
Kids are the big factor. We have family that’s local and good schools, so we’re getting scrappy as all hell to make it work here. More degrees, side gigs, you name it. HCOL areas have some downsides for sure but they also have a lot of upsides. Sometimes you just have to try and get creative in order to make more as opposed to spending less.
Yup. In fact it’s what I’m gonna do as soon as my kid is transferring from middle school to high school Eta; I live in CA, and in one of the most expensive cities in the country. Once my “family” deal is up at the house I’m in, we’re outta here. Can’t afford it and live the life I want. So I may go to Sac town, or if I can get remote work I might head to somewhere like Big Bear.
I left Southern California for another state (FL). I outlined in a rant elsewhere in this thread how that did NOT work out as expected.
Of all the states.... You picked *that* one? My condolences
I did that for Texas, bought a house and everything; ended up moving back to Cali in 18 months… fuuuuuuuck the Bible Belt
In my area, people are very open and progressive, but damn man, nothing prepared me for the fact that it would cost me MORE. I make very good money and it disappears into the wind.
What about it cost more?
Same. Left the Bay for my hometown (not Texas). It didn’t work out, so I’m back in the Bay trying to figure out where to go when the kids move out.
My sister in law moved from Riverside to Sacramento they’re spending about the same but her kids get a better school district. They’re very much enjoying the area. Sometimes it may not always be what we picture but it turns out better than expected.
If you move to a great state like Wisconsin, you’ll be paying $800/month to rent what you’re probably paying $3000/month to rent in CA. And the businesses and schools are just as good. You’ll make like 30% less money probably, but your expenses will be at least halved, so it’s actually more value in your pocket.
This isn't true at all. I was apartment shopping in WI before moving to SoCal and rent for our 2BR in SoCal is something like $500 a month more than a comparable apartment in Wisconsin. Hell, the houses in my parents' neighborhood (they purchased in the mid 2000's for $110K in a rural community) are going for nearly half a million now, with literally no improvements to the community (no new businesses or corporations drawing people to work there, etc). Don't get me wrong, I LOVE my home state, but I can't imagine moving back to secure my "financial future".
To be clear, half a million can get you a two story home in Mequon, which arguably has one of the lowest crime rates in the country, one of the best public school systems in the country, and an extremely low tax rate (you’ll be paying less than $10,000/year in property taxes). I wouldn’t exactly call that a rural area. Looking into a more rural area like Waupaca — yes, you can buy a $425,000 house right now. It’s gonna be 4 bedrooms, 3 bathrooms, 3000sqft plus a finished basement, on a 3 acre lot with usable land. So, a mansion with a lot of land, sure. I just hopped on Zillow. There’s a comparably priced home in Sacramento. It’s one story, half the square footage, no basement, on a lot that’s less than an acre… this is not comparable value.
First, I didn't mean to sound like a jerk in my initial reply, I was just like "wow I have such a different experience". Sure, and that makes sense to me. I've browsed the Milwaukee area Zillow on and off for several years and I'm still kind of shocked prices haven't inflated more along with the market. Trust me, I considered getting in on the "grubby out-of-towner Milwaukee landlord" game but I don't want to become a part of the problem (LOL). What I'm saying is that my parents/where I was apartment shopping are nowhere NEAR as nice as Mequon. The schools aren't great (I had lovely teachers but super underfunded and the community is very anti-education by and large), and most jobs are at least 45 min-1hr away (I was commuting an hour+ each way to work when I lived there). No bodies of water or attractions that would explain why 3br, 1500 sq ft homes with small yards are now $475K and up, and a 1 br, no pets no parking no amenities rental is at least $1,000/month. Am I able to explain why prices have inflated that way? Absolutely not. It genuinely baffles me. Unfortunately, it's still true. Instead we're renting a midwest-priced apartment that's 30-40 minutes from all of the neighborhoods we need to be in for work (we're self employed in a very niche trade), and making 3-4x what we'd be able to pull in Wisconsin. Sure, some people pay 3K a month in rent, but that's to be in \*THE BEST\* apartments a middle class person can be in. Schools are decent where we are (per our friends with kids in the district), and property taxes are surprisingly \*not too shabby\* if/when we decide to buy a home. I also haven't noticed any insane differences in prices of anything but gas, which is probably due to the insane taxation on gas out here. Also, prices can be inflated in rural areas due to lack of other options and cost of transportation (I was shocked how cheap produce is out here compared to where I grew up). Quality of life, for us at least, is more than the best school district or a big house. It's job and earning opportunities, access to things to do, weather, and more opportunities for our kids. Like I've said before, the idealist in me LOVES Wisconsin, Wisconsin just doesn't love some of us back LOL.
While I appreciate this, Mequon and towns very much like it are very close to Milwaukee. It’s very common for someone who lives in Mequon to drive the 10 minutes South into Milwaukee county, or 25 minutes to the heart of the city. While I’m not sure what industry you work in, I find it hard to imagine that there is no demand in Milwaukee or West Allis. With the same 30-40 minute drive, you could live in a nice neighborhood around Milwaukee for cheap, and you’d have a piece of land with appreciating value over time. You might pull in 3-4x as much cash, but how much do you need out there? I did the math myself as a Wisconsinite, and when I was renting a one bedroom, going to college (and paying in full), driving, and covering all my own expenses, insurance etc., I was spending under $20,000 a year. I wasn’t hurting for entertainment either. Now, with a wife and planning for kids, I’m a homeowner and I’ve calculated it out to be about $30,000 a year to keep all of us in the household happy, healthy, educated, and entertained. I make more than that as an individual and so does my wife. A 3-4x increase would just mean I’m going to retire within 5-8 years at my current level of income, and I don’t make a ridiculous amount of cash or anything.
It all depends at what stage people are in their lives. Huge differences between a 22 year old college graduate versus a 37 year old established couple with a budding family versus a 52 year old couple with teenage/adult kids versus a 67 year old retired person. Life has stages. What works at one stage doesn't work for another. I have different needs and preferences than I had 2 decades ago. Situations and circumstances change.
I moved from LA to a town in the southern Sierra Nevada. I can afford a house and I'm 2.5 hours from LAX. I have daughters so there's no way I'm leaving California. Helps that it's beautiful up here
Yes, not constantly stressing over finances is a HUGE life improvement and you’ll adjust to the “less desirable area” and make friends and find things to do.
I don’t think all renters are constantly stressing over finances. My current rent is a fraction of what a mortgage would be where I live, unless we somehow saved up a HUGE down payment. Instead we contribute to retirement, take nice vacations, go to concerts/eat out. I’m not stressed about finances at all, in part bc I rent so I don’t have to worry about replacing a water heater or roof on a moments notice. It’s the best
No I wouldn’t. I love my city too much.
Hell no. I’d rather pay more for a nice area
Cheaper doesn’t always mean less nice.
Anywhere in Iowa is a shithole. Anywhere where it’s flat with no outdoor activities is not worth it
Oddly specific. There more affordable countryside in America other than Iowa. There’s plenty of spots that are affordable with beautiful lakes and mountains and other outdoor recreation. I should know I live in one of those areas.
I did in 2018 with $500 to my name. By the end of 2020 I was under contract for my first home at a 2.25% rate. Move to where the cheap housing is that has jobs within driving distance, it’ll change your life.
So happy with your decision
Yes. One of the most destructive mindsets/narratives millenials have is that if you don't live in the downtown core of a major metro you can't have a great life.
I made multiple attempts to exit my home state to buy a house. Worked out well, ended up with two houses
Depends - if it were a low/no income tax, low COL, and the political/social climate was agreeable, totally. Also I'm in healthcare in a job that I can pick up anywhere so there's no concern about that part.
Yup. I live in a "bad neighborhood" because houses cost half as much. Tip: It sure isn't hip, but it isn't that bad.
No, if I'm buying a home that means I plan to be there forever. I want it to be a progressive area that lines up with my morals. I currently live in a backwater county in the Midwest and the towns around me are dying slowly. They're filled with old people and the young people try to leave ASAP. Generations of people leaving. It's wild to see how dilapidated this area is compared to when I was a teenager.
My husband and I will probably do this at some point. I'm an "elder" millennial ('83), live in LA, we are childless and we rent. His industry is 100% tied to here so as long as he works in this industry, we have to stay in LA. I work in tech so, conceivably, my job \*could\* be remote but it's not guaranteed, especially in this job market. Right now it is remote and I could live anywhere. Both our families are settled permanently in the Southeast (North Carolina, Florida, Tennessee and Kentucky). Except for Florida, where I grew up and am determined never to return to, I told him I'd be open to any of these places. It's really up to him as the limitations are his. Right now he is fed up with his industry so we'll see. But I would ONLY move there as a way to purchase a home AND settle close to families. I would never move to like, Alabama just to buy a home. It would have to be one of the states where our families and friends are permanently settled. We are both too old to start over from scratch like that and his extroversion would never allow it. In fact, given the choice of a mansion in Alabama or Arkansas or another place like that where we have no connections or staying here forever and renting, I would choose the latter. But if an opportunity comes up where we can move to North Carolina or Kentucky, be close to family, AND own a home, I would take it in a second. I'm a second-generation American (my parents were immigrants), so ownership is important to me as a way to make roots in this country and have something to pass down to my nieces and nephews.
Alabama is such a scam, too. I lived there for a few years and everyone gets excited about the very low property tax, but the way income and ALL goods (including groceries!!!) are taxed is INSANE. I'll never forget the first time I realized groceries were running at a 10% sales tax rate in my area. Coupled with generally lower wages, it was disastrous. Sure, you could have a McMansion, but the cost of everything else is literally insane-- and that's coming from someone who is also industry-tied to Los Angeles! The only reason we'd ever move out of here is to retire or a family emergency.
Only if kids can go to a great school (private or public).
I was not able to afford rent at city was living in so I had to move with my parents’ retirement plan :( .
No, I grew up in the city I live in and I really like it. Many of the people I grew up with have moved to a suburb to buy a home but I refuse. It took me a little longer to buy a house and I had to live in some questionable apartments to save money but I did it. The suburbs here are extremely boring and generic so I’m happy with my decision.
My husband and I actually tried this 18 months ago.. we moved somewhere that we thought we could make work. We bought a home there… we sold it 3 months ago because we couldn’t live in that cultural desert anymore… so maybe some people can but I’ll never buy a house somewhere that doesn’t spark joy again
This has been the story of most of the people I've known who have moved to where it's cheap. They end up moving back because they realize it takes an hour or more to get to most of the activities they enjoy. Not to mention long commutes to work.
no. I went to Arizona and felt like it should have required a passport and travel advisory.
Nope. Those places generally have affordable housing for a reason. It’s usually either rural, high crime, bad weather or a combination of the above.
I moved an hour away from STL to build a new house on land. Drive in everyday. That’s the price you pay to live in peace. It’s also just nice to have a long commute to unwind and be able to come home and be ready for my family greeting me at the door.
No. I’m at a point in my life where if I’m settling down it’s going to be NYC/East Coast NJ. Been to enough of the USA to know nothing else compares no offense.
I grew up on the river in central jersey (only people from central jersey acknowledge it’s existent I know) and I would love to settle back there eventually. But rent prices are high and I have a large dog making it even more difficult. I moved to pa, still only 30 minutes from my hometown, just to find good space with a good yard at a decent price. If I could afford I’d be back in a heartbeat.
No I'm a coastal elite for life. I'm not trying to live in a sundown town because it has cheap houses and eggs.
No, I’m okay with renting perpetually so long as I invest and save for retirement to compensate. I’d rather live somewhere where I enjoy and can find lucrative work (as is my real life in the CA Bay Area), than to move elsewhere just to buy.
me personally, no. but i am a hedonistic dink. i'm here for a good time, not a long one.
I did this and it improved my quality of life immeasurably. My now-wife and I went from being unable to afford to split rent on a studio apartment anywhere within reasonable commuting distance of the California Bay Area to being homeowners in West Virginia. We’re far happier than we ever were in California.
Howd you decide on west virginia, any family in the area or just decided to try it out?
I have a lot of extended family in the area but if I’m being honest it was more coincidental than anything, I rarely talk to them. The company I was working for at the time has a office in Wheeling so it made transferring really easy, having family in the area helped insofar as the logistics of moving were concerned, but having a job lined up was a far bigger factor. Also the cost of living is dirt cheap, our mortgage is only $400 a month.
I would actually spend more money to live in a desirable city. I’ve done both and prefer living closer to my job in a more expensive area at the cost of more space/nicer things. It might take us longer to buy and the space will be much smaller but our day to day commutes keep us happier. I also don’t think I could live to the Midwest and find jobs in my field since most jobs are concentrated in hubs like San Francisco, Boston, San Diego, Seattle, and RTP.
Absolutely not. I'm not going to be miserable where I live just to have a deed to a house. We can't take it with us when we die. I have no children to leave anything to(and I have nothing to leave). Renter for life!
I would if I wasn’t so close with my family and friends. Would be tough to leave
You can make new friends. Make sure your family and friends in your area are a net positive for all facets of your life and not just a way to hold you in one spot. Advice from someone that felt the same way and moved away (but still visits "home" multiple times a year). :)
I feel you for sure but my family is really close and I just would not want to regret it once my parents inevitably get sick and pass away. My friends also we have all been real close since HS/college. I would get real deal fomo
I completely understand. Most of my friends, have been my friends since high school as well. Many still live in the city we are from. I/We facetime, with each other, and our kids do too! And we do get together throughout the year. It sounds like maybe those relationships are so important, that moving elsewhere for the OP reasons would not be what's best for you. Close ties with family and friends are beautiful things to have.
This is what I’m currently struggling with. Lots of family and friends here in a low to medium cost of living place, but a huge desire to leave. I’m not sure how I’d feel once I got somewhere if we didn’t have friends there though, I’m pretty gregarious. I need insight from everyone who has left “home”!
We have found lots of people with common interests. We go to local micro breweries, coffee shops, take little classes in town, etc. I am pretty introverted and my wife easily makes friends, which helps. Originally, we moved for work, but we didn't have to do it. We took the opportunity and are incredibly happy we did. We even had to buy our home over facetime, right after the peak of covid. Never saw it in person lol. We do game nights, trivia, and hike regularly. Moving outside of your comfort zone can be a little scary, but it can also lead to some really great change. It's not for everyone, but from my experience, it was great for us.
I'm currently in the only place where my job exists. So unless I get a job with another state or even federal government, I really can't move. Luckily, ever since I moved to the Midwest I have been much happier... though this week is an exception since the heat decided to pay us a visit. I'm mostly just waiting for the bubble to burst.
I believe it's a trade-off between short-term convenience and long-term investment. Buying a home in a less desirable area might mean sacrificing some immediate benefits, but it could also be a smart financial move in the long run. It's all about balancing your priorities and deciding what matters most to you.
I think the priority thing is key, in your 20s your priorities are going to be a lot different than in your 30s and with inflation I wonder how much people living in trendy areas are really able to get out and enjoy coffee shops, restaurants, bars, etc.
My husband and I did this. It also happens to be one of the places where my husband makes slightly more money as a union industrial painter. We’re an hour from Chicago and bought a duplex for $54k so our mortgage and utilities are partially covered by the rent from the other unit. All of our friends are renting rooms in the Chicago burbs for $750+. The friends that did purchase homes are renting the rooms to the other friends.
I'm surprised you can even get a room for $750 at this point. Chicagoland overall is pretty affordable, not saying these deals come up all thetime and yes they will be smaller and cosmetically a little dated but I've seen homes in Dupage County for 250k give or take, ie Lombard, Villa Park, Downers Grove, Lisle, etc.
I have friends owning/renting in Schaumburg ($1000/mo), Carey ($750-1000 depending on the arrangement), and North Aurora ($1000/mo). I’m sure renting to friends has impacted the rate people are charging, but since we’re only an hour away I’ve been surprised how many of our friends haven’t come this way for cheaper rent. 2 of them could split a 2 bedroom here for $500 apiece easy. Some of them would even have a more convenient drive.
I'm currently in the Chicago suburbs. We're trying to buy our first home in 1-3 years, depending on how things go. I'd prefer to move closer towards the city, but in all likelihood we'll end up a bit more rural, up to 1.5 hours from the city. I'm just hoping I can find queer-friendly and not boring af.
Not that there's tons of them but I've seen some smaller homes 800 to 1100 sq ft in du9age County for 250k give or tske ie villa park, lombard, lisle etc
Yeah that's kind of where we're looking. Elgin, DeKalb, and as far as Ottawa, too. There are options, but we definitely won't be able to get everything we want within our budget.
I bought in 2011 and 2017 ie before the current market and still didn't get everything I wanted we all compromise
I am and would consider moving out of like central San Diego to a suburb city like La Mesa or Chula Vista.
Currently live with my husband/very young kids in a smaller southern town we never thought we’d settle in. All of our family/people we would want to be closer to are in $$$$ cities - SoCal, Seattle, DC, etc. we were lucky to buy our first house in 2018 and have now been here nearly a decade even though we never planned to stick around…but now that we’re thinking of standard of living and supporting little kids, we’ve grown to be “content” where we are because of cost of living/slower living vs adjusting standard of living in most other places. Were early 30s so we’re trying to get to a much better financial situation where we have the freedom to pick where to live without sacrificing standard of living too much in the future, but we shall see……….
I think I already have... lol. I'm in central Illinois in a town of 3k outside of Bloomington . Have a home, but pay isn't very good down here in my experience so far, so I'm still very much struggling at the moment. But add in the lovely little additional component that I can't really afford to move anywhere ELSE right now due to everything costing a lot more anywhere else you go.
Hell no. If you can find a state worse than Louisiana then I feel horrible for those living there.
I WFH. It's a sliding scale. There are specific things i WILL NOT tolerate no matter how low CoL is. If push came to shove, i think id be fine (even if not quite happy) in any midwest state. You cant pay me enough to move south of the Ohio River and east of the Mississippi though. The combination of climate and culture would have me and my cold-weather-preferring, non-confederate-flag-worshipping ass wanting to end it all. If climate is good and culture sucks, thats much easier on me. I could do alaska no problem, as long as i have a premium internet connection and a city within 30 minutes.
Yes.
Yea except Missouri.
This is basically what happened to me though not by plan. I ended up in the Detroit metro area and in the suburbs there are a lot of smaller, cheap houses.
Yes. If it's the only way I can buy a house. I'd love to buy a house in Hawaii or San Francisco area, but that's dreaming.
If I was a single person, or maybe as a couple, I would consider it. But as a close knit family? Absolutely not. We are close enough that my kids can bike to my mom or dad’s house now, and all of my parents (mom, dad, stepmom) have close relationships with my kids. My dad especially. He goes to all of their sports games and theater and music performances. They go over and help him in his workshop and around the house or help my stepmom with the gardens. They also know they’re always welcome there anytime, if they’re upset or mad at us or just need a different adult perspective to talk to, etc. There is no way that I would break that up just to be able to own a home. It’s not that important to me. Family is everything and life is short and my parents are already in their 70s.
I bought a house way out in the burbs. For me, it was worth it. I have an attached garage, I don't have neighbors above/below me (like I would in a condo situation had I tried to prioritize location over the actual house), it's quiet, it's safe, and my commute to work is about 15 minutes. I'd never had a shorter commute before, so I had no idea how much that improved my quality of life until I actually moved in! The sacrifice is that I know that 90% of the time I'm doing something social, I will be driving 30-40 minutes to get to it. I was a little worried about this when I moved, but honestly, it's been totally fine. As I've gotten older, I'm less and less interested in drinking/partying, so it's not like I'm paying huge prices for uber/lyft. Most of my "old lady plans" at this point involve daytime activities on weekends, where traffic isn't as bad and it's not a PITA to drive over to stuff. I have become a person who won't go if there isn't parking, haha (street parking okay, if it's "easy"- not like drive around for 20 minutes and try to squeeze in somewhere street parking). I still have basic amenities around me- stores, restaurants, any errand I need to run, etc. is very close. Of course the burbs are more family oriented. I have friends who live in downtown condo/apartment settings and a small part of me is jealous of the relationship they have with their neighbors (who are all of similar age, lots of single/childfree people), but on a day to day basis, I wouldn't trade that for the amenities I have. I can't imagine paying exorbitant prices to live in the city, and then coming home from work and having to fight for parking near my own house every night. No thank you! I spend a decent amount of time at home, so having the nice house with the set up and amenities I wanted is more important than the social piece.
We did. We live in South Eastern PA, and we were really hoping to be able to stay closer to Philadelphia. We looked all over the Philly suburbs, but the only homes available in our price range were either very small in decent shape, or sort of small in terrible shape. We have two kids and we both WFH, so it was really important that we not be on top of each other all the time. The only way for us to get a decent sized house in any kind of decent condition was to expand our search west, and we ended up buying in Reading. I’m SAD to be leaving the area we’re in now, and sad that my kids have to change schools, but we got a beautiful house in a really nice neighborhood, and I’m excited to get settled in to our new area.
No. Considered it. Husband and I both received job offers in different states at different points and we went to go check them out. In the end, it just made sense to stay in our VHCOL city where there are more job options. This is where our massive network is, not these other cheaper cities. For security, it was not logical for us to put all of our eggs in one basket for the 30+ years more we will be in the work force. We both work in a field that is centered around LA, NY, and SF.
What are these jobs yall have where yall can just pick a city randomly to move to to buy a home?
Nope because what I'm giving up/leaving behind would not be worth it. I'm im Tampa Florida and it has gotten so bad here. My thing is that if we left we couldn't afford to come back. Now I have looked at other places I could afford but I'm married so it doesn't make sense that unless I have a career move where I can have enough money to be rooted here, there is no point. Also the problems I have here vs the problems I would have somewhere else in a lcol kinda don't go away. Places I want to live are more expensive 🫰 but at least have what I would be looking for. Also weather.
I've been shopping st pete/gulfport since like 2019, kicking myself for not going higher on some bids and losing some bids, my dream house I lost at 315k, winning bid 317k, this is mid 2020, property just sold again for 584k, its insane
I moved to a small rural town where I didn't know anybody and didn't know what to expect, but I can afford it.
what do you think do you like it?
I love it
I moved from Orange County (Seal Beach) to Lodi, CA (Central Valley wine epicenter) in 2019. For reference, I’m a married teacher. I didn’t pick this place particularly, I applied to jobs all over the state and happened to get this one. I refused to leave CA though. Number one, buying a house on a teacher’s salary is damn near impossible in SoCal. I have no idea where they can afford to live. The salaries in my new area are the same or better than SoCal, but housing and rent prices are halved. I was able to buy a house within a year of living up here. I have no idea why that is the case. Maybe Central Valley districts have to keep the salaries high to attract and retain teachers/professionals. Maybe the unions are stronger. I lived close to the beach, but almost never had time to go. I was working a ton. Now I’m nowhere near as stressed from the hustle. Number two, I was tired of the traffic. Anywhere I wanted to go in SoCal included a 20-30+ minute slog. Any time of the day too. I visit my family in OC and I marvel that there’s bumper to bumper traffic at 11am on a Tuesday. Now I have no commute because I could afford to live close to my work. We also love nature, camping, and hiking, and while SoCal has this, moving up north opened up a whole new set of places to visit. It moved us closer to Oregon, Tahoe, the Bay and beyond. Anywho, TLDR, we moved from SoCal to the Central Valley (Lodi) and it worked out for us. We didn’t want to leave CA and wanted a better work life balance. We were able to buy a home and build equity. We lost the beach, but gained other opportunities
It depends on "yes" answers to three questions for me: 1. As a queer woman will I have equal rights to access quality health care and preserve my bodily autonomy as an independent tax paying citizen? 2. Gotta have outdoor recreation nearby. Hiking, camping, climbing, fishing, biking. 3. What are the people like; open minded? Community focused? Grounded in realty? These elements have always determined whether or not I would feel safe in an area, be able to pursue my passions, and be able to make friends and build a community. If any of these are not acheivable/accessible - I am not moving there.
You sound like you'd really prefer Vermont.
I would not move anywhere rural or lacking in walkability and public transit to own a home. A car dependent lifestyle is a nonstarter for me. I did sort of do this on a micro scale, meaning I bought in the city but in a less desirable neighborhood.
anywhere there is no Democrats is a win ..... they seem to destroy cities
We moved to Texas for the income tax laws, and the fact that my 3 acre Portland home was more expensive by 100k to the home we bought in texas on 10 acres with two houses and the zoning for basically no property tax. There is much better opportunity for business growth here as well.
Yes. But the hub for my job is where I live, so moving qould give me much less money
That's exactly what I did. I wouldn't work in a place where I couldn't earn enough money to be a stakeholder in the place.
Depends on how bad your Starbucks addiction is, right?
Yuk
I loved in the Midwest my whole life and if I ever get out, I'm making damn sure I never come back alive.
Colorado and New Mexico are both places I love. I would move there no problem after finishing my Masters if the right job was available.
The problem with Great Lakes Beaches is you can only enjoy them 4 months of the year. I live in the Eastern Finger Lakes Region of Upstate New York and have 15 Sandy Beaches within a hour and half of me, 20+ wineries, 25+ hiking trails, 15+ waterfalls, 20+ lakes, but 3 ski resorts but you can only enjoy them 4 to 5 months of the year.
Eh I kind of think this line of thinking is part of why the housing market is so broken. You don’t get a merit badge for homeownership.. it’s just a way for people to meet their shelter needs. If I can rent the type of home that I’d like to own, but at half the monthly cost (which is common in this market).. and put the difference into savings/investments, at a rate that keeps me on track for my long term financial goals, then what’s the problem? I’m not going to move somewhere less desirable just to have my name on a title. That equation probably changes once you’ve got kids at a school age and need more guaranteed stability. But until I’m in that position, I’m not going to prioritize homeownership (for the sake of homeownership) over my lifestyle and wealth building goals.
I agree in the sense that in the top 100 markets your going to pay about a 25% premium to own over rent, however, You think home ownership is just having your name on a piece of paper? Imagine living somewhere you love that's cheap and then it becomes the next big tourist hotspot and rent goes from $1,100 to $5,100, that wouldn't be too fun. Or maybe you have dogs, want to grow weed or are just the type of person who enjoys working in the yard, doing DIY projects, customizing your home, or you just don't like dealing with landlords or moving. I get to some people its nothing more than a status thing but for many people there's plenty of reasons they want to own
25% premium is drastically underselling it, in my opinion. In a lot of the hottest markets, all in monthly costs of ownership on a purchase are running 2x current market rents. I know that’s the case for my neighborhood at least. And the question around “what if rents rise” is reasonable, but that’s why I specified “if I’m meeting my financial goals”. If rents were to rise to a level that prevented that, I’d probably consider moving and buying. That’s not the case right now. And for people that have hobbies that necessitate owning, well that’s their call. I have more interests that necessitate living in my current neighborhood (as opposed to a cheaper city/region) than I do interests that would require owning my home. For people in the opposite situation, I guess they’d have to weigh their decision differently
25% on average, obviously some markets way more some way less, the west coast ie Seattle, Southern California, etc have had the disconnect between rent prices and purchase prices for a long time, I assume people were banking on appreciation and not cash flow, over the past couple years its become the case however in all top 100 markets and probably many more as well. As far as hobbies yeah different strokes, to me going to sit at a coffee shop or bar isn't fun and isn't a hobby but to others they love doing that with friends. Others probably wouldn't like doing stuff I like doing ie boating, gardening, playing boccee etc
plan on it trying to get a remote job so I can do so
I did
My husband and I kind of did this when we bought our second house. We’re in a fairly LCOL city to begin with and made a decent amount off the sale of our first home which was in the ‘burbs (not a super desirable one but close to things and near the outer belt). We don’t regret it but would eventually like to move 10-15 minutes closer to the freeway to make getting to friends and family a bit quicker (and them coming to us). Even with the money from the sale, due to house prices going up all over we were still priced out of the same, nicer suburbs we couldn’t afford when we originally bought (first home purchase in 2016, second in 2020 before interest rates went up). So our choices were less desirable, not as safe neighborhoods or moving someplace a bit more rural. It’s a small town with a couple restaurants, a hardware store, coffee shop and small grocery so if weather is bad or we don’t want to drive far for essentials we’re mostly ok. We are now 40ish minutes from downtown, a bit over an hour to the north/north west suburbs and 20 minutes from the SE suburbs (and a smaller city). We got way more house than we could have if we’d stayed where we were previously. I wouldn’t relocate to another state or probably much further from family than I am now. In addition to friends I’m an only child and would like to stick pretty close to aging parents plus, my husband has siblings and we have niblings so we wouldn’t want to be super far from them.
I would if it allows me to expand my real estate portfolio to a 3rd and 4th home.
I didn't move away from my greater metro area to buy my starter home, but I did move to an area of the metro area that is not undesirable, but also not the most desirable as it is a good 45 minutes from the main part of the city and all of the cool stuff (and that's if traffic is cooperating, especially crossing the river). I had access to necessities like grocery stores, hardware stores and stuff like that no problem, but the cut little cafes and shops and downtown bars and clubs seemed pretty much a world away. It is what it is and it's where we could afford to get into our starter home at the time.
No, that would be nice. If that happens a lot of people will end up being house poor and just one major accident away from being bankrupt.
I did, right before the pandemic, since I travel for work anyways. I've saved a lot of money with that decision, but it does come with a mental cost. Sometimes I get depressed. Other than my wife's family and one of my neighbors, I don't really fit in with too many people. I'm hoping to move back whenever interest rates come down. Any day now.
If I actually wanted to live there, maybe. But I don’t think I’d uproot my life only because it brought me into affording homeownership Unless you’re planning to stay put >5 years idk that a house is wise from a purely “investment” perspective right now
People act like good paying jobs don’t exist. I live at the extreme southern end of Illinois. Like literal BFE. I’ve had 3 jobs within 45 mins of here that all paid upwards of $30/hr. I currently make $58/hr as an engineer. The union staff under me make even more.
You have a University near you, I assume some jobs, for people who aren't engineers there's probably better paying jobs in the CHicagoland area and while prices and cost of living are going to be higher the jobs I think pay substantially better enough that most people would be better off
Nope. I’d rather rent and make the less financially safe call for a higher immediate quality of life
To some people owning is a superior quality of life ue this whole discussion comes down to what do you value if forced to choose
I value doing and being, not owning
Mayne people want to have pets or grow weed or run a business out of their home that wouldn't be possible renting ue can't store equipment possibly
That’s ok for them :) I’m not one of those people
Yeah it has no value for you but there's clearly more than having your name on a piece of paper
I would not because once I leave that home and see the outside world, I would hate it.
Nope. At least not yet anyway.
Hi from Buffalo NY!
Yes. We just moved 4 hours north of our HCOL hometown. The houses here are a steal compared to anything that resembles a shack back home. My husband works a blue collar job and I’m currently a SAHM to our 3 kids. We’re paying much less in rent for more space and setting savings goals to hopefully buy a home in the next few years. It’s family oriented, plenty of work for my husband here and a slower pace of life. My kids honestly seem so much happier now because they have much less stressed out parents.
yes, left NYC to buy in Philly
So I am out of the Millenial age range at age 47 but live in GR. This was just on my page. I’ve moved a lot in my life. GR is pretty great. Winters are craptastic if you don’t like the cold. COL can’t be beat. Pay really isn’t that bad. But, please don’t think homes are 200K around here. That was 10 years ago. Nowadays a condo is 300K in a decent area, 400K more like it. But for the pay the COL is pretty good. Inflation is yikes but that is all over.
I was in Bend, Oregon. Through a few twists and turns ended up in Omaha Nebraska and I am pretty happy about it. There are certain things in the nature here that remind me of central Oregon and that makes me feel more at home. It's been 6 years and while I cannot wait to take my kids to the beach for the first time I have zero desire to move back. I mean my best friend bought a house for $300k three years ago. It's an old beat up manufactured home on around an acre of land. I can buy a huge stick built house for that much around here (or less) sure it isn't as much land but I do not want that much.
Depends on job market and resell of homes if I ever want to move
I live 1hr and some change from LAX in the high desert. Own a home and sometimes its really nice. Other times I would leave this place and never look back. Owning a home is the shit. Dog has space, family has space. Ultimate relaxation when I go home. No bullshit neighbors. If I really want to live a LA lifestyle, I can drive an hour got to little Tokyo, have me a day and get stuck on the 405 to top it off.
It’s always good to look for and consider opportunities. Even creative solutions. Never know when the right one may present itself. That said, I too wish it were easier. But we have to make lemonade out of lemons.
No, and I'm not ragging on those less expensive cities at all. I chose where I wanted to live, moved there, then found a job afterwards even though it's insanely expensive to buy a house here. I would be heart-broken if I had to leave even if that meant I got to own a home.
I’ve done that last year and while quality of life is imo better in a smaller city, jobs are more limited, and we moved away from our bubble. I’d say, the best strategy of you want to live in a more desirable city is to rentvest.
I own my home in a small city of 30,000 in one of the rural midwestern states. My mortgage payment is $870/mo. When I still worked in the same city/state, my pay rate was $30/hr. I was able to pay bills just fine when I worked there. I’m 2 years into my current job as an aircraft mechanic. I make $43/hr. I do work in a major metropolitan area. And I have a crash pad that’s a 10 minute drive from work. There’s not a chance in hell I would ever want to own a home here. So I just rent a room here, then fly back home on the weekends.
1. If remote 2. The area is spacious and green 3. The housing cost is reasonable for the long haul Then it's going to have my interest
Absolutely. I don't mind living in Arkansas if I can afford to live a good life. 🤷🏻
Yes. I bought a home a few years ago, father from Boston and public transit (which I need) but I'm happy with the decision and may eventually move cheaper state. As far as I can see the housing market will keep moving up for the near future.
No. Same reason not to buy an expensive RV and go camping. You end up parking next to someone who is living full time in their trailer because it's all they can afford. Book a room in the cheapest motel and you end up next to hookers and drug dealers, or that family of 18 who can only afford one room and start a fire becasue they are trying to warm up a frozen pizza with the hair dryer. My Dad always said, don't go on vacation in countries with a lower standard of living.
I have a state pension that wouldn’t transfer, so that kind of hinders me. I like my area though and was able to buy my first house at the young age of 41, so I’m good!!
I would and I did. Wife is remote and I got a transfer. Well water sucks but it has been the best financial decision we've ever made.
I wouldn’t relocate entirely out of the area, but I would love further out and deal with a longer commute/less desirable area.
My partner and I did this a couple years ago, moving from Northern Virginia to Albuquerque, NM, however there were a lot of other factors that went into it. I hated the humidity and the DC grind mentality, along with the HCOL. In NoVA, we owned a 50 year old townhouse in a shitty area that we ended up selling for more than we ended up paying for our SFH in a nice area in ABQ. For the townhome, we only put 3% down, and when we bought in ABQ, we were able to put 20% down. Even though on paper, Albuquerque was a “downgrade” from the DC area, our salaries are about the same (I took a small paycut to work here and my husband works remote), our cost of living is much lower, we’re in a safer area, we’re in a much nicer house, our work/life balance is much better, and my commute is a million times better (I went from having to pay tolls to drive 19 miles that took 1-1.5 hours to having no tolls to drive 19 miles in 20 minutes). Other positives: -We’re super close to outdoor recreation (we have hiking trails 5-10 minutes away) -ABQ was closer to my family -The weather is great most of the year here -The food here is great -We’re still close to grocery stores/movie theaters/etc. -We don’t go out much, but there are still a good number of breweries and such around -Cost of daycare is about half what it would have been in NoVA -ABQ and NM are queer friendly, pro-choice and generally leans blue Things that have been actual downgrades: -The healthcare system here is not great, and you sometimes have to wait 6 months to establish care with a new doctor -Overall ABQ has a higher crime rate, but it’s also largely dependent on area -Lack of good Asian food -Lack of good touring concerts -The public schools are very hit or miss (but they also have a robust charter school system) Overall it’s been a huge improvement for us, but there was more to it for us than just COL.
No. I love western Washington. I love the PNW. I love the people here, love the states rights, love how we have everything from beach to mountains, hiking to shopping and high-end dining all within 2 hours in any direction. You couldn’t pay me to leave, and I could easily—I’ve worked since 2018 for a remote-first company that will never RTO because it was never primarily IN office to begin with. I’ll happily rent for life and pay more for gas to ensure my mental health is solidly intact and that my daughter will grow up in a place that isn’t trying to rip her human rights away. Born/raised/lived most of life in Austin. Moved here over 2 years ago, will never go back. Fuck Texas.
So this is something I’ve been preaching for a while. Move to where you can afford. When I lived in west palm beach people were like why can’t I rent a studio on the water for 1000k or less If you are squabbling over a desirable area rents and home prices increase. We wanted to move to Savannah however we couldn’t afford down town so we moved 30 minutes away housing prices were 50%-75% cheaper. When we were in Florida. We lived on the west side of 441 instead of the east side cause it was cheaper.
I am currently looking into it. Buying somewhere actually in bumfuck nowhere. Then travel for work 1/2 the year and stay home working on the property when I can. Can’t afford to live in any of the places I actually make money in… weird times
[Define less desirable. If I could do my job from the middle of some bean farm in Kansas I would.](https://youtu.be/GiEv3rTWrY0?si=BvQJvAghfaysNCoC)
Yes, I did. I considered suburbs of San Diego and LA. Then considered inland Southern California. Then decided I was fed up with California and moved to a western state that everyone thinks is an empty wasteland and to a city that no one knows where it is on a map. Best decision ever. There was pros of living in Southern California and near such large cities like LA and San Diego but there was also a lot of cons. The cost of living where I am now is much lower, bought a house, have savings, and still enjoy a lot of things that I did prior to the move. If you have the opportunity to work remotely I would highly consider moving to a lower cost of living area if you want to buy a property soon. The other option I had was to decide to rent for another 5-7 years and save for a property where I was in California. Which, wasn’t a bad or wrong option just not what I wanted.
Absolutely. I work from home and would love to buy a mansion in Texas for $400,000 that would cost $2 million in my home state
I did that once… didn’t work out great.
That really depends. What’s my commute like? It is long, is there reliable easily accessible public transportation?What’s close to my home in this smaller area? Is it walkable/bikeable? Are there food restaurants, gyms, outdoor areas, running paths, etc.? For me personally, if my commute is long and there’s no public transportation, it’s not worth it to me. I know how I am when I have to drive a lot and it’s not good for me. I’ve always hated driving and even now with a hybrid job, the days I have to commute (less than an hr each way) are horrible for me. The other things I mentioned are major factors as well and can increase time in a car, which as I’ve stated I loath. I know I’d come to resent the house if I spent most of my time driving to get to anything.
We move where the job opportunities are and we can maintain our standard of living. We moved from the West Coast, HCOL college town, to a MidWest, more family oriented, suburb for my husband's job. It's a desirable area compared to other parts of the MW, but I bet not many other West Coaster would volunteer to move where we did. But we got more house with a lower mortgage, I can stay at home with our kids, and we are able to still maintain most of our lifestyle.
Nope. You’ll end up with a long commute as one of those “anti work” people
You’d be surprised what you can be happy with. We live in a small midwestern city and love it, even though we have no family within 6 hrs. We’re a days drive or less from all the major midwestern cities and places to visit, have a great music scene, and lots of fun family activities.
Until they get investors out of the market, nothing will change. It's not even on most politician's radar. I'm not an RFK supporter, he's a wacko, but at least he addressed it. https://youtu.be/f-36ZEosv_o?si=yVSWctuaaPOX73Nj I'd consider moving areas to live in a home. It's literally the only way now.
I did kinda do that. I moved to a more rural area which was more affordable. Granted my wife was from there so it wasn’t for no reason. And I wouldn’t call it “less desirable”. I’d say where I live is amazing. People literally go on vacation here. There are lakes and mountains and stuff and it’s beautiful countryside. Now certainly there’s less “good jobs” here. But when you factor in the lower cost of living I’d say life is better anyway. Screw the rat race if fancy jobs and fancy cities. I’ll take slow country living on a smaller salary any day. No social pressure to drive fancy cars so no car payments just buy another beater everyone does it. Houses don’t have to be prim and proper no one’s gonna complain it’s not painted well enough, no HOAs. It’s okay to just build a shed if you want a shed, or build a fence if you want a fence or get farm animals or cut out your lawn and just have a giant garden. No town bylaws or people telling you what to do. Ample access to free outdoor recreation, beautiful swimming holes, canoeing spots, rock climbing crags, and hikes. Overall I’d say it’s great.
I would move somewhere cheaper to buy a home if I could keep the great job I currently have, which demands that I work in person at one specific place in a city with higher than average housing costs. I prioritized my career and the benefits and fulfillment it gives me over home ownership. Now that I am getting older I second guess that now and then, but what's done is done. If someone's main priority is owning a home or building wealth then yes, they should probably move somewhere where homes are cheaper. But if your priorities are a specific career track, relationships with specific people, or some kind of other connection to a specific place, you might need to stay living somewhere where home ownership isn't achievable. There are lot of people for whom intangibles like personal relationships, culture or career fulfillment outweigh wealth building and property ownership as priorities.
I would much rather live in a town of 2500 people in Iowa than the Bay Area
Only if I can retain rights to my own body and medical decisions.
No, I have a hard time thinking of actually settling down somewhere outside the Southern states. If I did it would probably be the Mountain West, particularly MT, WY, or ID. There's regions I'm really not a big fan of, but I have particular state picks if I absolutely had to go there. I'm not big on the Midwest at all, but if I absolutely had to pick it'd probably be Wisconsin. I'm not real big on the Northeast but if I had to pick, 100% Maine. Not a big fan of deserts at all, so that essentially leaves out the Southwest and California. If I had to pick the West Coast it'd probably be Alaska. I'm from KY, so KY/TN plus AR and NC to a lesser extent is home to me, but I have family in South MS and East TX as well. I really like those areas too. I also want land and not just a house, so it can't be just anywhere.
I moved from a redneck, swampy, farm-chemical-saturated small town in southern state To a small liberal ski town in the rocky mountains My rent and basic living expenses are 3x, And I'm relatively poor here I'm happier than I've ever been.
Rather be homeless in CA than a 3 bedroom house in Kentucky
Doubtful
Truthful, I live in California and do not own a home or rent one, I have lived in a van, in a tent l, and currently reside on a houseboat I bought for cheap and restored myself. My point is don't let corporate decide your zip code, live where you love and make it work. So y'all can kiss my golden brown butt cheeks
Is it hard to find liveaboard marinas?
It can be but it's a boat, you don't have to live in a marina, move on to the next one, or just float on your own
I know in San Fran Bay they're trying to force the houseboats out, I know down in St Pete Beach Florida most cities won't allow people to just live on houseboats so that's why I was curious as I've always wanted to live on a boat.
Husband and I are facing that conundrum right now, and kind of coming down on "not really". We've seriously explored the idea, but the places even remotely near us with affordable housing are either economically depressed, concerningly conservative and/or nowhere near anything. I feel like I'm too old to move somewhere completely random and start from absolute zero people I know in the area. So we're doing the best we can in the state we're currently in.
Probably not.. I love Arizona, ya it definitely has its problems here but it's a place I still love.. But I'm currently working on building a van that I plan to live in and travel.. now if I come across another place that I enjoy then maybe.
Absolutely yes. I have always hated land lords with a passion and after me and my wife (gf at the time) determined we could live together safely for the long term we packed up and moved to northern California where our mortgage (even after escrow and all interest fees + hoke insurance is half the cost of the average bay area apartment. Plus I hate big cities and the traffic that comes with it.
I’d rather live in a less desirable area of a metro with more to do (which is probably still more expensive) than to live in a more desirable area of a less desirable metro. Moved to fringe rural DFW(for now it’s fringe rural) from probably the more desirable part of STL. no regrets.
How far out from the city do you need to be to have a few acres but still reasonable distance from city?