Are looking to do something new, in a new place and feel like you are ready to take on your new life?  Maybe you’ve already started looking at places to live and new jobs in the area you would like to move to.  Have you, however, really done all the necessary research for your new move? How do you know if you are really ready for the next big adventure?  How do you know if you are choosing the right job?  How much should your new salary be?  Where are you going to live? Are you sure you are making the right decision for yourself and your family?  

Anyone who has ever moved knows the stress of getting ready to move, whether it’s another place in the same area where you are currently living or another city or state.  It is a lot easier to move to a different part of the same city or town you are living in than to move to another city in the same state.  The biggest challenge though, is making a major move from one state to another.  There has to be thought and research put into a decision like this.  Unless you have lived there before, have spent a lot of time there or have family there, a move from one state to another can not only be stressful, but also requires a lot of research to find the right city or town, and then what part of that city or town you want to live in.  Even after you have done the research, you have to plan, save and then find the right place to live.  You have to decide if you want to rent, lease or buy a place.  We are in the research portion of our current plans ourselves.

As anyone who has read many of my posts knows, we already know where we want to move to, which is Florida. We want to be close enough to the Clearwater area so that Leslie can one day reach her goal of being a dolphin trainer and work at Clearwater Marine Aquarium.  As I’ve spent time researching the Tampa area, I was surprised to discover the difference in costs between there and here.  For example, here in Lexington, KY, the average rent of a 3 bedroom apartment is $1,425.  However, according to Zumper.com, the average rent for a 3-bedroom apartment in Tampa, FL is currently $2,235. This is a 23% increase compared to the previous year. They also report that the average rent for a 1-bedroom apartment increased by 5% to $1,683, and the average rent for a 2-bedroom apartment increased by 7% to $1,930.

I also know that the cost of living in Florida is higher than here in Lexington.  All of this is important to know because as we plan, we need to adjust our income, expenses and savings to match the higher cost of living and higher expenses that we will be going into when we move.  As you look at and start thinking about where you want to move to, the more research you do and the more you know and plan, the less stress you will have when moving day finally comes. 

It’s also good to know what your income will be in the new job you choose when you move.  Your income has to change as well, in order to match the change of cost of living in the area you move to.  This is very important, especially if there is an increase in the cost of living where you are going.  When you look at housing where you are moving to, you want to be sure that you are paying not more than 30% of your gross income.  That 30% should include rent or mortgage and utility costs like heat, water and electricity. So for example, if you are making $50,000 a year, your monthly cost of housing plus utilities should not exceed $15,000 a year, which when broken down monthly would be $1249.80.  Knowing this information tells you what you need to make a month in order to be able to afford rent or mortgage in your new state and can then decide whether the job you’re being offered will meet the new cost of housing and living you can expect when you are ready to move.  It’s also a good idea to adjust your emergency savings to plan for 3 to 6 months at the increased cost of living before you move.  

Learning about all this and keeping it in mind, as you plan for your next move, will greatly decrease the amount of stress.  Once you have done your research, know what to expect and have a plan laid out, only then are you going to be ready to save for and be able to move.  Good luck in all your future endeavors!