Our townhouse is relatively cheap, but the price of 4-br single family houses in this area are in the $400K and $500K range, not too much lower than those in VA (of course it depends on the location). But property tax in NJ is much higher (we currently pay nearly $6,000 a year). We have prepared to move to a bigger house anyway, so house may not necessarily be a bigger burden for us when we move to VA.

I heard daycare in that area is much more expensive, could be twice as much as what we are paying for our two children now in NJ. So in general I feel the cost of living will go up, but not to the level that we can’t afford, as long as we have jobs

@STLPlace I will need a lot of luck for sure

I know you don’t need financial advice from me, but good luck will be helpful especially in this economy

Also, have you factored in the cost of living? You say it will be higher, but housing costs last I checked are almost double there from what you state your NJ house is worth. That’s again why I recommend renting.

If you give me the “stability” argument, just be forewarned I bite. I have lived in my current rental for nearly 5 years, and during that time, the landlord has only raised the rent a total of $100/month ($25/year every year; my 5th anniversary comes up in August.) Finding a good landlord is key.

I plan to move in July to San Diego (long-distance move!) and there are a ton of great single-family homes on the market. We’re currently looking at a 2400sq.ft. place about a mile from the beach, for just 60% of what it would cost us to buy.

-Erica (happy high-net-worth renter)