I would move because of the quality of life of having that commute. That's at least an extra 3 hours each day you are losing. Ridiculous. Either move or start looking for a new job.
I would also consider that you may not actually be in the city forever--you could relocate to another part of the country at some point. And a pay cut may not hurt so much when your expenses decrease by half.
That commute will kill you. I commute in the NYC metro area over one bridge. It's less than 20 miles and takes me over an hour and I hate it with a passion. You will hate your job, I guarantee it.
Do you want to live in the new location? What would it otherwise do for your quality of life, for the type of childhood (schools?) you want your child to have? If living in the new place is appealing minus the financial aspect, then absolutely move now.
Also worth thinking about.... how secure is the job and how secure are you in wanting to stay in this niche field? You don't want to put your whole financial future on the line and then get laid off a year from now or decide to change fields a year from now. Also, can you anticipate any aspects of the job that you currently enjoy changing in the new place? (For example, coworkers who you really enjoy not making the move and then the company hiring new people who suck, or the type of clients you get being different in a new locale, etc.)
why not? we refi'd in january, the renters were in by february.
Because most conventional mortgages are structured for owner occupied residences. If I have the intent to move, it could be construed as mortgage fraud. If they catch me. Ha.
Start the process now; once the refi is done, they won't keep tabs on you.
Post by countthestars on Jan 11, 2013 10:00:41 GMT -5
Would you be able to take the Tap instead of the GW? I find that if I leave Fairfield County early enough, I can get over the Tap with little to no traffic.
There is no way I would last a year doing that commute. If you decide to stay at this job I would bite the bullet and start the process of selling the house now, but really I agree with the others and would look into other job options.
ETA: Just saw your update re: niche market. I would just move then. That commute would suck the life out of me. I think you'd start hating your job really fast.
This. If it's not going to adversely affect your H's job, then move and preserve your sanity. GL!!
I could not do that long of a commute. My first job I was driving in traffic for 1.25 hrs each way. I didn't love the job and only lasted 4 months. However I know other people who do it and don't care. If you really can work from home 2 days a week, t might not be that bad. Do you want to move? I might try the commute for a few months first and gauge how bad it is, how you like the area near work, etc before making a decision.
Post by countthestars on Jan 11, 2013 10:04:34 GMT -5
I do think you should move and rent out your house. But I loooove Fairfield County (minus the COL). Where is your office moving to? You can PM me if you prefer. Or ignore me
I'd work on a refi ASAP if you are eligible. What do you think the difference would be in your mortgage payments? If you would currently lose $300/month by renting it out, refinancing could cut that down a bit and make it worth it to rent. If you lose $300/month, even if you rent it for a few years while you pay the mortgage down, the market may bounce slightly and you won't lose the full $30k you were referencing above.
I would move. It isn't worth the stress. Could you stay with family during the work week if you commuted?
This is a good idea. Though depending on where your family lives, if you are commuting towards NYC the commute may be even worse. I'll be on the lookout for the PM