I'm often curious why more people aren’t moving to low cost of living areas. I don’t know if I’ve just been fortunate, but I’m a college drop out who honestly hasn’t tried very hard in my “career”, but I moved out to Cincinnati which has a low cost of living at 23 (8 hours from my family) and I’ve managed to do very well for myself with a modest paying job (20ish an hour). I have 40k saved up and plan to buy a house this year. I wonder if other people who have went or started on a similar route are doing well for themselves.
And if you are in a high cost of living area, would you ever consider moving somewhere significantly cheaper?
Semi-recently moved to a lower cost of living area from a more expensive one. Probably wouldn't have been able to afford it if everything didn't align.
We both had work from home jobs that allowed us to keep our incomes through the move. Before covid sent us home, we would never have been able to pay for the move plus an uncertain period without dual incomes. I honestly don't know how people do it.
We were able to do downpayment and we're in a house now, in the city, which is nice. Mortgage is less than I was paying for a 1br in a suburb in the more expensive area. Rents there keep rising which is what finally made us bite the bullet.
I miss my family and friends quite a bit though. Still a bit bitter that the only way I could afford the security of a home was to leave my whole life behind.