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Reply to "LCOL- who moved from this area and it was beneficial?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Not worth it. Your husbands salary will be adjusted downward due to a change in locality pay. You will also lose the low interest rate you have on your current mortgage, so a cheaper house may actually be more expensive. [/quote] I already looked at house similar to ours in sq footage and school district and its $200 less than our current mortgage that has a 3.5% interest rate. We could sell our house for 500 or more. It's way less tax and less to insure, etc. The salary difference is 10k per year and I would make my same salary. Housing costs are 60% of DC costs. [/quote] Just looking online doesn't work. You have to go to the city and see these neighborhoods. We moved to a LCOL area that on paper has houses significant less than our 2MM home in a HCOL city. But no way would we want to live in those neighborhoods. Usually newer developments farther away from things to do. And the older neighborhoods with less expensive house were owned by people who couldn't afford the upkeep. We ended up in a nearly 1MM house in a good neighborhood. We are better off financially, but we miss having so much to do in our HCOL city.[/quote]
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