Moving to Tennessee from CT ?’s, Career ?’s, Places in TN to move to ?’s (Knoxville: for sale, real estate)

[Geneyus]

Don't even think about buying a boat with ten's of thousands in student loans. Paying off debt should be priority one. I recommend you look at Dave Ramsey's program or another one to help you pay it down, and there might be some government jobs that pay for school, but I don't know about after the fact.

[mjshaw130]

I am moving to TN to enjoy the outdoors and be happy which I am not up here in CT at all. There is far more to life than just money. Yes it is important but it is not the key to life. Most people my age have student loans that follow them for the remainder of there lives, or just a very long time. I am still a year away from even beginning to pay for mine and I am in the low 30's so I am not worried about them or a mortgage. I have saved up a significant amount of money up here and plan on using that to help buy my TN lake house and another boat once I move. I am trying to look at jobs that are at a minimum of 35k a year. Just making sure that is something to be able to live on until the other half comes down, who will easily be making 45k plus as a nurse.

[Serious Conversation]

Originally Posted by mjshaw130

I am moving to TN to enjoy the outdoors and be happy which I am not up here in CT at all. There is far more to life than just money. Yes it is important but it is not the key to life. Most people my age have student loans that follow them for the remainder of there lives, or just a very long time. I am still a year away from even beginning to pay for mine and I am in the low 30's so I am not worried about them or a mortgage. I have saved up a significant amount of money up here and plan on using that to help buy my TN lake house and another boat once I move. I am trying to look at jobs that are at a minimum of 35k a year. Just making sure that is something to be able to live on until the other half comes down, who will easily be making 45k plus as a nurse.

I'm 34 and making around $90k, depending on bonus, a little more if bonus comes in this year, a little less if it does not, due to the pandemic. I'm single, no kids, and live in Bristol, which is likely one of the lowest COL cities in the state.

I do have a high car payment (bought a new car recently), but a low mortgage and no other debt. There's no way in hell I can afford a lake house on South Holston (very limited development), Watauga, or maybe even Boone Lake in this area. Boone may have some opportunity for you, as the lake has been lowered since 2014 due to subsidence issues on the dam, and prices are depressed. The lake is expected to be raised back to full pool in 2022. With that said, Boone isn't that pretty - it's just very convenient to all three of the Tri-Cities.

There's no way you could afford anything on Norris Lake. I can't see you affording anything on Cherokee or Douglas Lakes either. Norris is probably the nicest, but all these lakes other than Boone are beautiful.

Target is hiring for $13/hr locally. Aldi locally is at $16/hr. There's your close to $35k.

I don't think $35k is out of reach at all, but that's a low end wage here and you will not be able to get a third of what you want on that salary. I was tight on that ten years ago with nothing but a $200/month student loan payment (long since paid off), living with my parents, and no other debt. It is a tough life.

You won't have the money to enjoy the outdoors much on a $70k-$80k combined income with usual bills, a ton of student loan debt, etc. I'd be hard-pressed to see a financial institution underwriting a mortgage with those DTI levels, much less a boat loan and all the attendant boating expenses.

[mjshaw130]

Originally Posted by Serious Conversation

I'm 34 and making around $90k, depending on bonus, a little more if bonus comes in this year, a little less if it does not, due to the pandemic. I'm single, no kids, and live in Bristol, which is likely one of the lowest COL cities in the state.

I do have a high car payment (bought a new car recently), but a low mortgage and no other debt. There's no way in hell I can afford a lake house on South Holston (very limited development), Watauga, or maybe even Boone Lake in this area. Boone may have some opportunity for you, as the lake has been lowered since 2014 due to subsidence issues on the dam, and prices are depressed. The lake is expected to be raised back to full pool in 2022. With that said, Boone isn't that pretty - it's just very convenient to all three of the Tri-Cities.

There's no way you could afford anything on Norris Lake. I can't see you affording anything on Cherokee or Douglas Lakes either. Norris is probably the nicest, but all these lakes other than Boone are beautiful.

Target is hiring for $13/hr locally. Aldi locally is at $16/hr. There's your close to $35k.

I don't think $35k is out of reach at all, but that's a low end wage here and you will not be able to get a third of what you want on that salary. I was tight on that ten years ago with nothing but a $200/month student loan payment (long since paid off), living with my parents, and no other debt. It is a tough life.

You won't have the money to enjoy the outdoors much on a $70k-$80k combined income with usual bills, a ton of student loan debt, etc. I'd be hard-pressed to see a financial institution underwriting a mortgage with those DTI levels, much less a boat loan and all the attendant boating expenses.

Fortunately for me I have a ton of money saved up from here specifically for another boat and a nice lake house. Also the Tennessee river is 652 miles long and offers lakefront/riverfront property almost everywhere. Last time I was in TN I stayed at Douglas Lake and found a nice lakefront home overlooking the smoky mountains on 8 acres of land with a 2 car garage for 180k. That would be a couple million in CT. House was in good shape too. Could use a little updating but didnt need much. 30k is about average for most jobs down in TN. Unfortunately with what I chose for a career law enforcement does not pay well. Here in CT or there in TN. Most people in this country have a mortgage, student loans, and a car payment. Those are just everyday bills for almost everyone. I have made less than 35k up here in CT and done fine so living in a place like TN where the cost of living is not even 1/4 of what it is here should not be an issue.

[ElDiabloJoe]

It's clear from your responses, mjshaw130, that you already have better answers to your own questions than the people of whom you are asking the questions. If they are clearly misinformed and mistaken about the COL and what it takes financially to do the things you want to do in the area they know well, then go ahead and do what you want. Good luck to ya.

PS-- It already says a lot about your ability to financially manage your life when you have "...a ton of money saved up from specifically for another boat and a nice lake house." when that money should pay off your 100K in student loans (I know you corrected it with "closer to 80" but you did say you had about 40 and she had about 60K in student loans. Most people put that at "about 100K.").

[AppalachianAngler]

MJ:

It appears you are just looking for confirmation bias for someone to tell you this is a good idea, when it is obviously not. You do not have enough of a stream of income to support your desired lifestyle. How much have you saved? The bills are not going to stop after the initial down payments.

No one is saying that money is everything; there are plenty of other activities you can do outdoors for basically free (hiking, camping, etc.) but do not have the means to own a boat and lake house at the moment. Unless you are putting something like 25%+ down on the boat and house, you all will likely not even qualify for such loans. If you do, you are going to eventually be underwater and may lose it.

I am not sure what your point is that a lot of people have student loans or car payments? A lot of people also file for bankruptcy. There are plenty of people that live above their means and it catches up to them and ruins their lives. The people that do have these debts usually do not have a boat and lake house.

No one here is telling you to run away from your dreams, but everyone is warning you of an almost certain life-ruining financial decisions. By all means come to the area and enjoy it! Pay off your debt and when/if you can afford it, get a boat.

[mjshaw130]

Hi guys,
So this is the year. Planning to be down in TN within the next 4-5 months at the latest. Looking for some opinions on the coffee county/Murfreesboro area. I grew up in a very small farm town up here in ct and kind of looking for the same down there. A lot of jobs in the area for me as well as lakes, and the positioning is great because it is right between Nashville and Chattanooga. Let me know thanks!

[mjshaw130]

Hi everyone,
Me and my fiancé are moving down to Tennessee soon and have decided on Eastern TN and we are looking for advice on the best lakes to live on in small towns or close to small towns. She works as a nurse and myself in law enforcement. There are a large variety of lakes in eastern TN so any advice will help. Thanks!

[grampaTom]

Are you looking for lakefront property or just a small town very near a lake with good lake access? If the latter you have many options including Lenoir City, Oak Ridge, Dandridge, Morristown and many even smaller towns.

How small a town are you thinking?

[mjshaw130]

Prefer lakefront, but if that is out of the question when we start our home search then we would take lake view as well.