Thoughts On Moving To Less Expensive Areas?

Discussion in Personal Finance started by Denis Hard • Feb 24, 2016.

  1. Denis Hard

    Denis HardWell-Known Member

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    Fact is there some areas where it would be a lot cheaper to live. While I'd recommend a rural area, there are a number of rural areas where you'd be spending more money than in some cities.

    Anyway, supposing you can get a job wherever it is you want to move to, and you'll be saving a lot of money because almost everything there is cheaper, would you move, leave all your friends behind to start a new life elsewhere?
     
  2. Theo

    TheoWell-Known Member

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    People are forced to move to cheaper areas and it does make sense. You have to balance quality of life with what you have, because working and living in a bedsit is not much fun, so taking a less paid job and having a nice place to live could be a better idea.

    It does have to be safe, and take into consideration friends and family too. Relocating can be stressful, so you shouldn't rush into it, but maybe stay in the area for a week to see how you like it first.
     
  3. Rosyrain

    RosyrainActive Member

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    We are actually looking to move to a cheaper area as I write this. The housing market is ridiculous in the city that I live in and so we are looking to move about 40 minutes away to a more rural area and have a bigger house for the money we would spend on a house around here. I want to be able to have a garden and a place for the kids to play and that is not going to happen if we stay in the city we are in right now. The cost of living is a little cheaper as well so it is going to be a win win situation for us.
     
  4. Lushlala

    LushlalaWell-Known Member

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    Anywhere else besides Botswana, i'd jump at this opportunity. I love country living anyway, as long as it's not too far from the next big city. I love the fresh air, the space, bigger, better property and just....the peace and quiet.

    However, in my city, I think I'd rather stay nearer the centre mainly because the nearer to the city the better in terms of access to utilities. Whenever we get water rations and load shedding, it's usually the places on the outskirts and further away. The more affluent and central areas are very rarely hit! Our objective is actually to move to one of those nice areas mainly for that reason LOL
     
  5. xTinx

    xTinxWell-Known Member

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    It's not a bad idea, really, but you also think about your adjustment period, the cost of moving in (which can be costly if you have a lot of stuff with you) and the challenge of starting a new job (if you happen to have a job that involves an office and requires your physical presence). I may love the idea of nature or a less crowded place but I'm too used to the comforts of city life. My alternative to what you proposed would be to increase my income sources. Only then can I cope up with the financial challenges of an urban lifestyle.
     
  6. BrandonScooterman

    BrandonScootermanActive Member

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    This is a very common topic of discussion in the large metro I am close to (Toronto.)
    Most of the good jobs and fun things to do are in the core, or close to the core.
    BUT it can costs well over $1500 for the privilege to live there.
    So what do you do? Do you fork out that money and walk to work?
    Or do you spend $800 a month on a mortgage and drive 1+ hour each way!

    We have a lot of retiree's moving into our area now. They sold their houses and condo's for a million+ and bought nice homes here for $250 000.

    With the internet and the ability to work from home, the incentive to live in a less expensive area is growing.
    BUT some people consider these area's "boring" and want to be in a lively downtown area.
    I guess it comes down to personal taste and where you are in life.
     
  7. Corzhens

    CorzhensWell-Known Member

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    Living in the rural area here is maybe 50% cheaper than living in the city. We have plans of moving to the province when I retire 6 years from now. But we are still searching which province is best to retire to. Right now we have to stay put here in the suburbs because I am working in the city and I have to brave the usual traffic during rush hours. If we are going to sell our house then we can have a bigger house in the rural area and the rest of the proceeds of the is still substantial.
     
  8. DrRipley

    DrRipleyExpert

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    I would be willing to do this since I am not married and don't have kids. I imagine it would be a hundred times more difficult and complex if I already had a family of my own. I think if be willing to do that as long as I was still comfortable with the environment and as long as the benefits at least equal the sacrifice. Otherwise I wouldn't mind just working harder to maintain a lifestyle somewhere more expensive because ultimately I think comfort in your surroundings is also an investment on its own.
     
  9. GemmaRowlands

    GemmaRowlandsActive Member

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    I think if you're struggling to survive where you're living then it could make a lot of sense for you to move somewhere cheaper, however if you're just trying to save money rather than paying off debts or anything like that then you would have to consider how much you liked your current area, and whether saving money would be a good enough reason to move. To be honest, I would rather live somewhere I liked than have lots of savings for no reason.
     
  10. cocolgooh

    cocolgoohActive Member

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    I moved to a less expensive area, although that wasn't the primary reason I moved there. I was shocked how much cheaper many things were. My grocery shopping for example has been practically cut in half just because prices are lower here for food. Household bills seem lower too. Insurances are generally higher here though so I suppose it's swings and roundabouts. I like it here a lot better though.
     
  11. TJMarian

    TJMarianNew Member

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    Me and my family are planning on saving up enough money for a travel trailer to live in until we can afford to buy a house. I have been living in an apartment for almost 6 years now, and rent tends to be expensive no matter where you live. I would think that something like this would allow me to quite easily move to an area with a low cost of living, as I tend to get most of my income online anyway. Although it wont be very roomy, the prospect of never having to stay at a hotel, and owning the place that I live somehow seems worth it to me.
     
  12. Pat

    PatWell-Known Member

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    We have a large amount of people leaving our area every year because of cost. My sister in law is considering moving from Cleveland, Ohio to South Caroline due to cost. Rent is cheaper the heating bill will also be less expensive.
     
  13. Zyni

    ZyniWell-Known Member

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    There are so many variables. If you can relocate (job wise) then it is probably something to seriously consider (yet there are still many other things to take into account). If not, take the time to research the job market first, is my advice. In many areas where the cost of living is cheaper, so are salaries and wages. It may still be worth it, especially if you can buy a home for far less, but it's important to have all the information on hand before making a decision.

    You may need to prepare yourself for a bit of culture shock as well. I like the advice given above about staying a week and having a look around, checking things out, before making a final decision.

    At first glance "cheaper cost of living" sounds great, but there's always more to it than that.
     
  14. rickymuus

    rickymuusNew Member

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    There are a few considerations though. You are used to a particular lifestyle and therefore you must consider whether the changes you will have to make are worth it. Security is also a major concern.
     
  15. Dame6089

    Dame6089Active Member

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    I recently moved from NYC to a rural area. Luckily there are lots of things to do in this area that are close by. You just have to weigh the options. I will tell you this, there is nothing like NYC. You can walk out of your apartment and just stumble onto an amazing experience. That city really never sleeps. For me though, it came to the point that my regular standard of living wasn't worth the amazing experiences anymore. It was hard to justify struggling to get by for that one day a week I did something fun. I am much more comfortable in a cheaper area.
     
  16. Jamille

    JamilleActive Member

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    I live in the suburbs and I can vouch that the quality of life here is a lot better than living in the city for the amount of money I spend every month. I can't afford to buy a condo unit of my own and still live comfortably knowing that I always have to work harder and save on everything else to be able to pay the mortgage. To top it all, I can't live in a very cramped place which is what my budget can afford at best.

    On the other hand, my house is located in a relatively bigger lot area and our subdivision is free from the the daily noise and smoke of city vehicles. I travel a couple hours to and from work but it's worth it because I get to rest in a comfy, spacious, and peaceful home. Most of my officemates live in suburban areas with their families because renting a house in the city is quite prohibitive and owning one is beyond the reach of average employees.
     
  17. Decentlady

    DecentladyActive Member

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    I have actually moved from high cost area to suburban area and the savings are a huge difference. Things are a lot more cheaper and the distractions like parties and pubs are non existent. So essentially you just save as you have no much choice but travel a long distance for some form of entertainment.

    Local sight seeing and exhibitions still exist and are cheaper and equally entertaining.
     
  18. Zero

    ZeroActive Member

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    Just because you're moving to less expensive areas it does not necessarily mean you will spend less or the cost of living will decrease tremendously, you have to take into consideration that you will spend much more on commuting to work.
     
  19. Alexandoy

    AlexandoyWell-Known Member

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    We used to rent a house in the Metro Manila area until we were able to buy a home in the suburbs. Truly, the suburbs is a cheaper place to live in. The barometer of the cost of living is the market place. Check out the prices of food items like meat and fish. Vegetables are pretty cheap in the market here, likewise with the fish although the meat is practically the same prices as in Metro Manila. Another advantage in the suburbs is the lesser traffic. However, before you finalize your plan in moving to the suburbs, check out your circle. When we moved here, it seemed that we were detached from friends and relative due to the distance.