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I'm going to disagree and say that you should be fine. Rent will be in the 3K range, but your wife having a doctorate and looking for a job is the key factor. There are numerous salaried jobs that she could walk right in and make 50K until she finds something more suitable. Even tutoring on the side pays very well, especially around here. With your wife working, you will have plenty of options for safe housing with good schools near Farmingdale. The Farmingdale school district itself is okay, but there are better options in the surrounding towns.
Who takes care of the kids? Child care expenses (either full time if not school age or after care) would eat up any of his wife’s “walk right in” earnings.
Originally Posted by fomenter: Wife will be looking for a job but not sure how soon she can get an average paying position (she has a doctorate degree in education, so not quite sure how the market is in her area).
Quote:
Originally Posted by BBCjunkie
She's a teacher? Well, that changes things. Teachers are well paid, on Long Originally Posted by fomenter
In fact, teacher salaries are one of the reasons you will see given, on forums such as these, for our ridiculously high property taxes LOL
A doctorate in education would be a very unusual degree for a teacher.
$100k in MO puts you in a nice financial bracket. I know someone who moved there from LI and bought a 7000 square foot house with an indoor pool. If you have not been to LI suggest you come see it first. Also if you hope to save for a house that is another story as well.
PhD in education is sort of nebulous. Care to elaborate and give her work history? Nepotism is strong when it comes to hiring in Long Island schools.
you can get something livable in copiague for 330k not in flood zone. That will run you around 2300/mo with utilities [if house has oil, use CC and convert that crap asap to gas]. assuming you are married, and no 401k nonsense, you take home ~6k, rent out the basement and net 4700 for rest of your living, which is pretty good.
Thanks for the responses. She has been working as a part time instructional specialist (at Intensive English Program) at a college in MO. She also had some student-teaching experience in an elementary school when she was working on her masters degree.
We live in a new 2500 sqft house that we purchased about 2.5 years ago, so we will be definitely downgrading if we decide to move there, which we are ok with until she finds a decent position.
We kind of know the area since my wife spent 1 year on LI as a student. We realize that cost of living is very high compared to where we live, but it may be comparable (that is how i feel now) if wife finds a job (assuming that we bring $150k per year).
A side note: No child care needed since they are in elementary school. Car payments around $500, no student loan, no significant credit card debts at this moment
Thanks for the responses. She has been working as a part time instructional specialist (at Intensive English Program) at a college in MO. She also had some student-teaching experience in an elementary school when she was working on her masters degree.
We live in a new 2500 sqft house that we purchased about 2.5 years ago, so we will be definitely downgrading if we decide to move there, which we are ok with until she finds a decent position.
We kind of know the area since my wife spent 1 year on LI as a student. We realize that cost of living is very high compared to where we live, but it may be comparable (that is how i feel now) if wife finds a job (assuming that we bring $150k per year).
A side note: No child care needed since they are in elementary school. Car payments around $500, no student loan, no significant credit card debts at this moment
Screw that. If your wife earns 50k at work, she might as well do a wfh job for a bit less and be home with the kids. Win win for everyone.
Keep in mind that your money spent on the home will go towards the value of your home. You will be cash deprived but house rich. The only question you should ask yourself is if it's worth to sacrifice worth vs living in long island. The houses in long island dont appreciate much as not a large number of people really wants to live here, so compared to booming cities, you will earn less overall. If you're ok with that, good luck on your house here.
Nonsense because I can go the bank and take out a loan for the stock market and will come 4x ahead of people with 401ks due to leveraging. 401k is the worst.
you can get something livable in copiague for 330k not in flood zone. That will run you around 2300/mo with utilities [if house has oil, use CC and convert that crap asap to gas]. assuming you are married, and no 401k nonsense, you take home ~6k, rent out the basement and net 4700 for rest of your living, which is pretty good.
The OP is looking to RENT at this point in time, not buy.
A tenant cannot alter the heating fuel source, or (if the landlord is using any kind of a standard lease) sublet part of the house.
Thanks for the responses. She has been working as a part time instructional specialist (at Intensive English Program) at a college in MO. She also had some student-teaching experience in an elementary school when she was working on her masters degree.
We live in a new 2500 sqft house that we purchased about 2.5 years ago, so we will be definitely downgrading if we decide to move there, which we are ok with until she finds a decent position.
We kind of know the area since my wife spent 1 year on LI as a student. We realize that cost of living is very high compared to where we live, but it may be comparable (that is how i feel now) if wife finds a job (assuming that we bring $150k per year).
A side note: No child care needed since they are in elementary school. Car payments around $500, no student loan, no significant credit card debts at this moment
With her degree she should make way more than 50k. Let’s use the public school system in the state. She would need to get certified it’s nothing more than spending a few hundred and taking a test. Let’s just say she has 6 years of experience and taught in a public school she’s looking at 80-105k in a public school on LI or in NYC.
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