cost of living calculator

71T Targa · 09-09-2008, 06:30 AM

Anyone use and trust a cost of living calculator? I want to know what I need to make in Seattle to live like I do in MN.

71T Targa · 09-09-2008, 06:31 AM

And google has lots of options, but what one is the closest to reality?

HardDrive · 09-09-2008, 07:26 AM

What kind of living situation do you want?

Appartment, condo, house? How many bedrooms? Do you have kids? How many cars? Do you prefer living in the city, or more suburban living?

This is big area, with lots of living options. I think we locals could give you some idea if you give us some inputs.

71T Targa · 09-09-2008, 07:38 AM

I'd like to be in a house, 3-4 bed room, 2-3 bath. We have two kids, two cars plus the 911 and motorcycle. Then there's the bikes and toys etc.

It's not just the house I'm wondering about. It's the package. State income tax? Relative cost of gas, food, etc. Sales tax?

I see on-line calculators that say if you make $xx,000 in Rochester, MN you need to make $xx,000 in Seattle, WA. But these are all over the place, as far off as 20k. So I'm wondering if anyone has used one they trust. Or maybe it's all just a big crapshoot...

onewhippedpuppy · 09-09-2008, 08:11 AM

I always found it useful to look at local real estate websites. Find a house like you think you want, see how much it costs. The sites should also list property tax. Find a number of houses to give you a broad idea of what it will cost to buy one. Sure, there's a lot of other variables, but the house is normally your biggest expense. Plus, sale prices are not estimated, they're real numbers.

Rick Lee · Rick Lee's Garage

Having visited Seattle a few weeks ago, I came away feeling that everything there was at least as expensive as in coastal California and I didn't even bother looking at real estate prices. Gas was a good $.40 more per gallon than here in AZ, groceries were just outrageous. I recently moved from the DC area, which ain't cheap at all and WA State's prices stunned me. I think it's safe to say you're in for some sticker shock, coming from MN.

VincentVega · 09-09-2008, 08:59 AM

Quote:

$xx,000 in Rochester, MN you need to make $xx,000

I think it's more like $xx,000 in Rochester, MN you need to make $xxx,000

71T Targa · 09-09-2008, 09:06 AM

The more I get in to this the less likely in seems. How does anyone afford to live there? I mean really, 400k for a distressed fixer-upper that wouldn't be 70k here?!?!?

Rick Lee · Rick Lee's Garage

Quote:

Originally Posted by phred68

The more I get in to this the less likely in seems. How does anyone afford to live there? I mean really, 400k for a distressed fixer-upper that wouldn't be 70k here?!?!?

You have to want to live there with all your heart AND find a job that pays better and will cover the move. I chose to move to a lower-cost area, am making less money here and still living way better than I did in VA. Doing the reverse was just unthinkable for me.

aigel · aigel's Garage

Only way to do it is to cut back on the size of the house. That is still the highest cost of living difference between the coasts and fly over country. If you are not set on buying, you can do pretty well renting, actually, and you may be able to get the 4/3/3 house.

If you stay in at the coast, the goal is to own the house outright by the time you retire. That will be a much bigger asset than a house in fly over country.

George

The Gaijin · 09-09-2008, 09:46 AM

It is the incaluable calculations that will get you!! (Ask Rumsfeld.)

New school district - suddenly the kids are trying to keep up with the Jone's kids. Clothes and cars and camps and stuff unheard of hack in Podunk are must haves..

The wife wants to go out more and try the Seattle restaurants she had been reading about..

Boy are you sunk! Better add 20% to that package..

JeremyD · JeremyD's Garage

It's going to be difficult to go from one of the fly over states to one of the coastal communities. Anyway you slice it - Going out west - you will typically have to cut the size of your home/ slash living expenses for the privilege of living there.

onewhippedpuppy · 09:53 AM

Quote:

Originally Posted by aigel

If you stay in at the coast, the goal is to own the house outright by the time you retire. That will be a much bigger asset than a house in fly over country.

George

Try telling that to someone selling their house in SoCal right now.

From what I've seen, a house that would sell for $130k in KS is easily a $1M house in SoCal. From what I've heard and seen, Seattle isn't that far behind. That's a HUGE delta, and the pay difference doesn't make up for it. It's not a difference of how long you pay, it's a difference of whether or not you CAN buy. As someone else noted, you have to really want to live in that area, and be willing to pay the price to do so.

aigel · aigel's Garage

Quote:

Originally Posted by onewhippedpuppy

Try telling that to someone selling their house in SoCal right now.

From what I've seen, a house that would sell for $130k in KS is easily a $1M house in SoCal. From what I've heard and seen, Seattle isn't that far behind. That's a HUGE delta, and the pay difference doesn't make up for it. It's not a difference of how long you pay, it's a difference of whether or not you CAN buy. As someone else noted, you have to really want to live in that area, and be willing to pay the price to do so.

I did say that the way to do it is to downsize. Owning 4 bedrooms 3 baths and a 3 car garage is not going to happen in the high cost west coast areas on an average salary. It may change in the future if prices decline further - who knows. Living in California - for me - has so many upsides, that I accept and deal with the housing situation.

George

71T Targa · 09-09-2008, 12:43 PM

What are those 'upsides'?

I really want this to work, and work the first time. So I'm trying to do my homework.

Superman · 09-09-2008, 01:14 PM

When I was doing wage surveys and making comparisons between locations, there was only one cost-of-living index that compared costs between geographic locations. Cities. And the only cities represented were the ones that participated in the (COLA) survey. It was done by ACCRA - American Chamber of Commerce Researchers' Association.

aigel · aigel's Garage

- Melting pot: I am a foreigner. I have lived in fly over states and did not appreciate the "you aren't from around here, are you?" attitude I experienced. This is especially important if you raise a bilingual family. The melting pot also is a great place to work in - I enjoy the diversity at work.

- Climate: When the sun shines I am happy. I grew up far north in latitude with a lot of winter darkness, snow, fog and rain. Here in CA the sun shines a lot.

- Hobby value: Climate allows year round wrenching and outdoor activity. Some of the nicest race tracks are within a few hours. The ocean is less than an hour (I like to dive and fish). The mountains are close by for snow fun, hunting, hiking and trout fishing.

The population density is high, which on one hand istn't a lot of fun, but on the other hand you will always find like minded people, no matter what hobby you get yourself into. I can write on this board today "need help dropping the engine on Saturday - free pizza" and there will be half a dozen people showing up.

edit:
- Opportunity: I work in high tech. There aren't many high tech jobs in fly over country. CA is a hotbed for high tech and venture capital. Chances are that there will always be work around here - even if the buck doesn't go as far.

George

slakjaw · 09-09-2008, 01:43 PM

Quote:

Originally Posted by phred68

The more I get in to this the less likely in seems. How does anyone afford to live there? I mean really, 400k for a distressed fixer-upper that wouldn't be 70k here?!?!?

I moved here from Nebraska and I said the same exact thing!

slakjaw · 09-09-2008, 01:50 PM

I was born in Thousand Oaks, CA and moved to Nebraska at age 15 or so. Been back to CA many times in my adult life and I wanted to move back until the day I realized that people in "fly over country" aren't missing out on anything.