In reply to Beer Baron :
A 3bed/2bath place here in a commutable area starts about 100k more than your numbers. With two kids now and hopefully 1-2 more in coming years I don't want to look too hard at anything smaller. That said, it's definitely manageable and I am handy for repairs and possible upgrades.
The local market has only dropped in the ritzy areas, the rest is stable though the sales pace has dropped significantly. And there are a TON of new builds that will need filled in the next 6-12 months.
Another point I forgot to make is we're contracted in our apartment through November. There are options to get out early, sign a new contract, or go month-month. It isn't a huge deal in any case, just something to be considered. Rent rates are showing no sign of slowing, and word around here is our complex is still raising rates for new renters/contracts.
pheller
UltimaDork
6/30/23 3:54 p.m.
Beer Baron said:
I live in a nice neighborhood, but not in a trendy area. 3 Bedroom houses built in the 80's and 90's go for $220k - $270k. Rogue Fitness is always hiring, and the base pay for a day shift welding machine operator is $21/hour. (I'm using Rogue as an example, because they clearly list pay rates.)
St. George is $250k-$300k for attached condo with an HOA fee.
It's heavily targeted by investors so any SFH homes that come up in that price bracket are scooped up with cash offers.
I imagine that it's going to be around $400k until you start to see some of that demand diminish.
pheller
UltimaDork
6/30/23 3:58 p.m.
How involved are the parents and family you have nearby?
Full-time babysitters level of involved?
Or "we'll see you at Thanksgiving dinner" level of involved?
If family isn't invovled enough to allow your wife to work, then move.
If you family is willing to watch the kiddos during the day. Wife should be working.
Unfortunately that's the pits of living in the isolated small cities of the west. They are just big enough to have huge housing demand, but just small enough that the wages aren't great for single earner incomes.
If you want a single earner household, you need to look at the cheapest housing markets in the country relative to the local wages. Pittsburgh, PA is a good example.
I would stay but......
where we are a good parts guy will make $50-60k a year at a decent sized dealership. Cost of living in central indiana is fairly cheap. We have a lot of good things to offer people over all except the weather. Winter is cold and gray and sometimes snow, summer is hot and muggy. Taxes are low, housing is reasonable and there are a lot of jobs. It's nice being so close to Illinois because when all those companies gave up and left a lot came here.
