photo credit: ILoveButter

We are all trying to cut expenses and make the most of each paycheck, but what if you could increase your take home pay another way? Would you relocate and move your family to make your dollar stretch even further? Do you have a dream of moving your family to a small town where the pace of life is slower? Worried that the local shopping mall is tempting for you or your teenage kids?

What if you could relocate with your current employer and drastically cut your home mortgage payment? Add to that, your home insurance, car insurance, and many other expenses. Where would I first look? Lot’s of places online such as Realtor.com can allow you to daydream or research what a home would cost in smaller towns. I started researching towns outside of the Bay Area to find out where the dollar would go a little further.

Some things I kept in mind during my research:

1. Schools. Check schools test scores and see how they compare to your current district. It might be better. If you home school, this won’t be an issue.

2. Property tax. If you are moving out of state, be sure to check the local property tax rates. If you are moving from California, you might be surprised to see rates higher in Texas or New Jersey.

3. Insurance. Your home insurance and car insurance rates may decline as you are moving to a smaller town. Less crime, lower rates.

4. Public transportation. Here in Northern California we have Bart and train service to Sacramento area. New Jersey and New York have a great train system as well. Could you extend your commute to your current job? Would the trade-off in time and expense outweigh the cheaper mortgage payment? You also might be able to telecommute on the train.

5. Friends. Maybe you have a friend that recently moved and they love the new home. You could allow them to get settled and test out the new community before you make the plunge. Keep in touch with them and find out what they like about the new town and what they don’t.

How much would you have to save on your home mortgage or rent in order for moving to make financial sense to you? $500 a month or $1,000 off your mortgage payment? Maybe you love your friends, family, and town and could never move.

Need more inspiration? Here’s an article from MSN where people have made the move to small towns.

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This is a guest post by Jill aka LivingAlmostLarge Thank you Jill for contributing this wonderful article.

An interesting article by BizJournal says that 83.5% of Americans live in major metropolitans. With 65% of those living in very large cities of more than 1 million people. Yet only 8% of people say they want to live in the city after they retire. So 92% of people are planning on relocating either in smaller towns or rural areas.
Further research showed that 40% chose small towns as the best place to live, while 27% picked suburbs and 21% picked big cities. And when asked where they would build a house 2/3 of respondents said outside of a big city.

The article goes on to list 10 “dreamtowns”, the best places to live with the least hassle. I thought it really amazing. I would love to live a smaller town like what I grew up in. Probably why DH and I aren’t into living in the city even now. The noise and bustle aren’t our things. Both of us grew up in suburbs for DH and smaller town living for myself. I can definitely see the pros and cons of both.

Living in a large city there typically is more job security in the sense that when you lose a job you are less likely to need to relocated to find another comparable job. I think that the security of knowing there are other oppotunities for employment is what draws people to big cities. But often times the pay is lower because the city knows it’s job are desirable. That some people like the hustle and bustle, and there is a constant stream of employable workers. But the cons are of course the cost of living can make it seem a struggle to survive.

Yet in small towns everybody knows your name. You may live in a much nicer home, in a safer neighborhood. You might have closer, longer term friends, than a constant flux of friends from switching jobs. You might have a shorter commute. But the cons are if you lose your job are you willing to relocate? Or would you be willing to retrain in a different field? There is no easy answer I think.

Whatever you choose to do, has ramifications. I like to dream of moving home, but the reality is it will never happen. Anyway here’s the list of the dreamtowns. And perhaps that’s why this is a list of “dream” places to live.

1. Torrington, CT
2. Bozeman, MT
3. Lexington Park, MD
4. Lebanon, VT
5. Helena , MT
6. Kalispell, MT
7. Mankato, MN
8. Oak Harbour, WA
9. Stevens Point, WI
10. Concord, NH

What do you think of this list? And would do you dream of moving to a small town?

Jill aka LivingAlmostLarge www.livingalmostlarge.com

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