My husband is flying to CO this week for an interview with Boulder County. We are seriously considering moving there but I am wondering if part of my interest in the area is influenced by 'drinking too much MMM kool aid'. It would mean a serious pay cut for him but I am envisioning a paradise of bike commuting, less expensive housing, biotech job opportunities for me and lots of outdoorsy activities and people.
Some background: Family of 4, kids are 6 & 9. Live in the expensive East Bay of San Francisco metro area. Current household income is $190 K, both parents work, both commute to SF from 'burbs. High housing debt, high daycare expenses (annually more than the entire MMM family budget last year, WTF!?!?!)
The hubby job possibilities: He's interviewing for a position that would be in the 50-67K range (down from 97K currently), his territory would be Boulder County, he would have to drive a county vehicle all around but I'm trying to convince him to bike from home to office for daily exercise. The job would include benefits that his current job doesn't have. We do not yet know the cost of the benefits. It's a switch within his industry from private to public sector. He wants to make that switch.
The wife job possibilities: I currently work in Biotech IT making $105K. I historically hold down a full time job primarily because the benefits in this industry in our area are excellent and we have one kid with medical issues that needs good insurance. Also the extra income helps with affording a house in the Bay Area. I would love to quit or work part time if my husband could provide the benefits. There is a fairly good possibility that I could work for my same employer remotely or find a job in Biotech in Longmont. But this leaves my salary as an unknown 0-105K.
The elephant: The house is underwater. We owe $450K and Zillow estimate is $335. We are unsure of the true value of the house. Rumor has it that Zillow is under estimating our value. Demand in our neighborhood is high, inventory low, we have the 2nd largest lot in the area, but the house is small - 2 bed/1 bath. The house has been totally gutted and updated (all by us) over the last 10 years but there are very few 2/1 comps in our neighborhood so I don't know if we could sell and break even or not.
Other liabilities: student loan $15K, car loan $11K (I have no issue selling the car, especially if I can either work from home or bike commute)
Savings (401Ks not included): $3K cash, $21K brokerage account
I want a simpler life and this seems like a good time to just pick up and start anew. Some friends think we are crazy. What do you think?
Erin
(fairly new to MMM site but I've read all the archives, and lurk on the forum)