{"id":353440,"date":"2015-05-08T06:00:03","date_gmt":"2015-05-08T12:00:03","guid":{"rendered":"https:\/\/www.creditrepair.com\/blog\/?p=353440"},"modified":"2022-03-29T21:25:09","modified_gmt":"2022-03-30T03:25:09","slug":"new-city-new-expenses-can-you-afford-to-move","status":"publish","type":"post","link":"https:\/\/www.creditrepair.com\/blog\/finance\/new-city-new-expenses-can-you-afford-to-move\/","title":{"rendered":"New City, New Expenses: Can You Afford to Move?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-353443\" src=\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201.jpg\" alt=\"shutterstock_159386201\" width=\"484\" height=\"323\" srcset=\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201.jpg 1000w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201-300x200.jpg 300w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201-768x512.jpg 768w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201-600x400.jpg 600w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201-450x300.jpg 450w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201-900x600.jpg 900w\" sizes=\"(max-width: 484px) 100vw, 484px\" \/><\/p>\n<p>Americans are on the move according to the U.S. Census Bureau. A press release <a href=\"https:\/\/www.jchs.harvard.edu\/blog\/who-is-moving-and-why-seven-questions-about-residential-mobility\" target=\"_blank\" rel=\"noopener\">reported<\/a> that roughly 13 percent of the population moves on an annual basis, a steady trend since 2008. Whether you\u2019re accepting a new job or moving closer to family, the decision to relocate is complicated. How will it affect your <a href=\"https:\/\/www.creditrepair.com\/blog\/finance\/budget-time-how-to-prepare-for-2015\/\">budget<\/a>? Will a wage increase cover new expenses? Will a move help or hurt your credit repair efforts? The answers to these questions often depend on:<\/p>\n<ul>\n<li>As the main factor in the cost of living equation, housing plays an important role in the decision to move. Although online calculators provide general conversion numbers, reality can paint a different picture. For example:<\/li>\n<\/ul>\n<p><em>Steve and Grace Bennett are a young urban couple. They live in Chicago in two-bedroom condo, purchased new for $185,000 in 2009. Recently, Grace was offered a job in Seattle, prompting the couple to visit the area and look at housing. Although <\/em><a href=\"http:\/\/www.trulia.com\/real_estate\/Seattle-Washington\/market-trends\/\"><em>online research<\/em><\/a><em> prices the average two-bedroom at $390,000, the couple has trouble finding a decent property for less than $450,000. Unfortunately for the Bennetts, Grace\u2019s $10,000 raise won\u2019t cover the cost of housing in Seattle. <\/em><\/p>\n<p>The moral: Don\u2019t rely on research alone. Consider doing the legwork before committing to a new city. Visit the area, meet with a real estate agent, and view available properties. What you see could affect your decision.<\/p>\n<ul>\n<li>The <a href=\"https:\/\/project.wnyc.org\/commute-times-us\/embed.html#5.00\/42.000\/-89.500\" target=\"_blank\" rel=\"noopener\">average<\/a> one-way commute time is 25.4 minutes according to the U.S. Census Bureau. In addition to time gained or lost, a change in commute will affect your:\n<ul>\n<li><strong>Fuel usage. <\/strong>If you\u2019re moving states, the change in fuel is twofold: time and cost. For example, while a 30 minute commute in Indianapolis may cost $2.21 per gallon, you\u2019ll pay $2.79 per gallon in San Francisco.<\/li>\n<li><strong>Need for help<\/strong>. A longer commute means more time in the car and less time at home. While this may not bother you, consider the effects on your family. If you have children or pets, it may require additional caregiver help, an expense to factor into your budget.<\/li>\n<\/ul>\n<\/li>\n<li>Uncle Sam is everywhere, and the price you\u2019ll pay to move often depends on:\n<ul>\n<li><strong>Property tax. <\/strong>If you plan to buy a home, consider property taxes and their effect on your mortgage. While the 2019 property tax <a href=\"https:\/\/www.naperville.il.us\/government\/city-finances\/taxes-fees-and-financial-forms\/property-taxes\/\" target=\"_blank\" rel=\"noopener\">rate<\/a> in Naperville, Illinois was 0.6937, properties in neighboring Elmhurst enjoyed an assessment <a href=\"https:\/\/elmhurst.org\/591\/Property-Tax-Comparisons\" target=\"_blank\" rel=\"noopener\">rate<\/a> of 0.6159. Consider these differences as you determine cost of living.<\/li>\n<li><strong>Sales tax. <\/strong>Even the smallest move can have a large impact on sales tax. Metropolis areas tend to have higher taxes than their rural counterparts. Check your new city\u2019s tax rate and calculate how it will affect your bottom line.<\/li>\n<li><strong>State income tax. <\/strong>While income tax doesn\u2019t exist for in some states e.g., Washington and New Hampshire, others like California and Minnesota take a healthy bite of their residents\u2019 wages. Consider your tax burden as you contemplate a move. Don\u2019t let a tax increase eclipse a new salary.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Food and utilities. <\/strong>Food, water, electricity: these are the basics of living, and yet, many forget to factor them into a moving budget. For example, suppose you\u2019re moving from Phoenix, Arizona to Bloomington, Indiana. You\u2019ll pay an average of 14 percent less for electricity, 20 percent less for pizza and 11 percent less for orange juice. Refer to a cost of living <a href=\"https:\/\/www.bankrate.com\/calculators\/savings\/moving-cost-of-living-calculator.aspx\" target=\"_blank\" rel=\"noopener\">calculator<\/a> to estimate expenses and revise your budget accordingly.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Americans are on the move according to the U.S. Census Bureau. A press release reported that roughly 13 percent of the population moves on an annual basis, a steady trend since 2008. Whether you\u2019re accepting a new job or moving closer to family, the decision to relocate is complicated. How will it affect your budget? [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[158],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.5 (Yoast SEO v18.5.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New City, New Expenses: Can You Afford to Move? - CreditRepair.com<\/title>\n<meta name=\"description\" content=\"Whether you\u2019re accepting a new job or moving closer to family, the decision to relocate is complicated.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.creditrepair.com\/blog\/finance\/new-city-new-expenses-can-you-afford-to-move\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New City, New Expenses: Can You Afford to Move?\" \/>\n<meta property=\"og:description\" content=\"Whether you\u2019re accepting a new job or moving closer to family, the decision to relocate is complicated.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.creditrepair.com\/blog\/finance\/new-city-new-expenses-can-you-afford-to-move\/\" \/>\n<meta property=\"og:site_name\" content=\"CreditRepair.com\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-08T12:00:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-30T03:25:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sarah Szczypinski\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.creditrepair.com\/blog\/#website\",\"url\":\"https:\/\/www.creditrepair.com\/blog\/\",\"name\":\"CreditRepair.com\",\"description\":\"We are the credit repair experts\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.creditrepair.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.creditrepair.com\/blog\/finance\/new-city-new-expenses-can-you-afford-to-move\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201.jpg\",\"contentUrl\":\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/04\/shutterstock_159386201.jpg\",\"width\":1000,\"height\":667},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.creditrepair.com\/blog\/finance\/new-city-new-expenses-can-you-afford-to-move\/#webpage\",\"url\":\"https:\/\/www.creditrepair.com\/blog\/finance\/new-city-new-expenses-can-you-afford-to-move\/\",\"name\":\"New City, New Expenses: Can You Afford to Move? 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Originally trained as a tech writer, she began her career writing online courses and administrative manuals for Fortune 500 insurance, HR and engineering firms. After forming her writing consultancy, Top Drawer Publications, in 2009, Sarah began to write about personal finance. She quickly realized that technical content and personal finance have something in common: there are rules for success. Sarah spent the next five years compiling these rules and applying them to credit repair, budgeting, debt, savings, marriage, divorce and more. What she learned has yielded hundreds of articles aimed at helping consumers take a closer look at their financial habits in order to make lasting changes. Sarah joined CreditRepair.com\u2019s Expert Panel in September 2014. 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