To move or not to move?

[caitlinsmom]

Dh and I have wanted to move to the east coast for a long time, nearly 20 years for me. We would love to go to Maine, anywhere really but we have always been drawn to Aroostook County. Housing prices there are dirt cheap but of course there are few jobs. Here we live in a home that we owe less than 100K but it is small (2bd) and while we love our community we dont enjoy Idaho overall. We need to add onto our home but have been quoted a price that is nearly half of what we currently owe, for only an extra 600sqft. We cant afford to buy a home here that will fit us as housing has gone up since we bought our place. We either move or we stay.

So my question is, would you move to an area that has low job opprotunities (but over all cost of living for you would go down by quite a bit) in the current economic climate? Would you sit on your home and ride the wave out and figure a way to make do with what you have? Is there another option that I am not considering?

[TraceyS/FL]

We kinda did that - but if we had to, DH could commute to Orlando for work (it's about an hour away).

 

I love where we are at and wouldn't do anything differently, but there are challenges.

 

I guess it would really depend on what your DH did and how easy he can adapt to what jobs are there for the taking.

[MrsMe]

Depends. First, see if you can get a decent price for your home if you sold it. See what comps are and what it would go for. If you're okay with that, then look for a job. II think it's more important to have a job first, but you'll have to realize that if you do get a job in Maine, that your house where your at may stay empty.

 

You'll have to weight the pros and cons of that cost and the cost of flying there to get a job. Do you have any family there you could stay with if your house doesn't sell?

 

It all hinges on each other.

[Quiver0f10]

If I remember right from your previous posts, your Dh is a teacher? In Maine right now they are consolidating schools and from what I have read, they will be eliminating some teaching positions. Keep that in mind as your plan for Aroostook country.

[Laura Corin]

I wouldn't make a move at present without a job to go to.

 

Best wishes

 

Laura

[BamaTanya]

I would never move a family without a job first. I probably wouldn't move the family until a place to stay was waiting, too. I can see sending the breadwinner while the family stays to sell the house or whatever, IF we determined the job would pay enough for the transition (rent at the new place + mortage on the old). I saw a relative go through $40K on a bridge loan while waiting for a house to sell and looking for a job in their new city. Meanwhile housing prices were dropping in his old area. Yikes.

 

Just me. I'm not a risk-taker. I was before children, but not now. A bird in the hand, you know. I also would not buy a new house without cash in hand from the sell of the old.

 

It would be different if you were already working for a company and were able to transfer your job (maintaining stability or seniority or whatever) and the company would guarantee the sale of your home.

[Erica in OR]

We moved a few years ago (WI to OR) when dh accepted a new ministry call. One thing that was a surprise for us was the hidden cost of moving to a new location. While our moving van cost was paid for by the new churches, there were so many other items for us to pay for that came up. They included things such as: deposits on various utilities, setup fee for phone service, setup fee for internet service, titles and registrations for vehicles, fees for new driver's licenses, deposit on the house we rented while looking for a house to purchase, etc. Finances were definitely tight for awhile, and this was with a new job already in place.

 

Erica in OR

[alpidarkomama]

We're trying to move right now too so we can go somewhere with lower housing costs (hopefully under $175K for 3+ bed/2 bath). Our area costs about $350K for 3 bed/2 bath. We'll be able to pay nearly cash for a house. DH will just keep applying until something works out. He's only looking at jobs that will pay at least $12K more per year, so it will cover our mortgage here for as long as it takes our house to sell. That way, we're no worse off after we move then we are now. :) It's definitely tricky though! Especially thinking of getting a house ready to go on the market with a 5-1/2, 3-1/2, 2-1/2, and 1-year-old at home!! And of course, since we're all homeschooling, the house is always neat as a pin and I can pack them out of here with just a few minutes notice (like 90!).:lol: Best of luck! It's not easy, especially right now.