Cost of living reality check needed for NJ - URGENT

[Megatomic]

I've got a job offer in hand, the plant is in Sayreville, NJ. They are offering me $34/hr to start with a $10K signing bonus. In six months I'll be automatically bumped up to $34.50/hr. No relocation funds available up front, all I get is the signing bonus with my first paycheck. I have a wife, 3 teenagers, and 2 dogs.

Is $75K enough to live on comfortably in the South Brunswick/Sayreville/East Brunswick area? I will have to make my decision this week so any help I can get from people here would be greatly appreciated.

TIA

 

[AgaBoogaBoo]

How does your current occupation compare?

General rule: Don't make any big decision in a rush. I tend to play on the safe side of things and my gut recommendation is to take it easy and let this pass if they're so pressed for time. I don't mean to kill your excitement though, but that's how I feel.

 

[Megatomic]

The offer has been on the table for a week now, my wife needs me to make the decision this week actually.

The new job pays $10/hr more than my current job does with similar benefits. The big difference is geography. I'm in the DFW area now, the new job is in NJ.

Thanks the input Aga.

 

[compnovice]

A one bedroom Apt will cost about $850-$1000 per month. With three teenagers you will require a bigger place. Real Estate is also expensive...

And grocery is more expensive than many parts of the country.

By train, each round trip will cost ~$15 to NYC (Thats where your teenagers will be going )..

The only cheap thing you will get is gas..

 

[akshatp]

Compared to DFW, your cost of living will be higher. However, I think 75k/yr is enough to live on, and if your wife also works you should be fine. I live about 15 miles north of Sayreville. Nice little town with lots of apartments/condos/housing nearby.

PM if you want more specifics or if you have any questions

 

[Juno]

cost of living / auto insurance = way too high. i'm really hoping you can afford them.

 

[Megatomic]

Thanks guys.

While I was up there interviewing, I did visit local grocery stores and noticed the price differences. It was wierd to see food higher and gas lower to be honest.

Some towns we're considering are Whiting, Freehold, and Jackson. Anyone have any knowledge of those areas?

 

[AgaBoogaBoo]

http://www.relocationessential.../tools/salary/col.aspx - tool to compare cost of living

 

[akshatp]

Jackson is not that close to Sayreville, so you will have a semi long commute. Freehold is closer, and not too pricey IIRC.

 

[PlatinumGold]

Originally posted by: Megatomic
I've got a job offer in hand, the plant is in Sayreville, NJ. They are offering me $34/hr to start with a $10K signing bonus. In six months I'll be automatically bumped up to $34.50/hr. No relocation funds available up front, all I get is the signing bonus with my first paycheck. I have a wife, 3 teenagers, and 2 dogs.

Is $75K enough to live on comfortably in the South Brunswick/Sayreville/East Brunswick area? I will have to make my decision this week so any help I can get from people here would be greatly appreciated.

TIA

not comfortably. unless you have a very big down payment on a house.


are you looking to buy or rent?

do you have car payments?

do you have good credit?

your car insurance will definitely go up.

 

[Specop 007]

Pull up a realtor website and see how property is going for.
realtor.com is what I use to check housing prices for various areas.

 

[StageLeft]

Unless you have money already, you won't be buying a nice house on that salary. Does your wife work? Do you have car payments?

Relocating is _EXPENSIVE_. We did it last year and with moving our furniture and car and selling our house and buying a new one it was in the tens of thousands. When I signed on to move I had done the math but somehow missed out on the vast scale of the costs. Thank heavens it was covered by relocation, otherwise we'd be drowning.

 

[Regs]

A 3 bed room 2 1/2 bath house in NJ is about 500-800k on average. Taxes depend on your locale, but I would expect at least 3k-5k a year on taxes.

2 bed room 2 1/2 bath town houses around my area go for about 250k.

75k a year though is a pretty healthy salary.

 

[PlatinumGold]

Originally posted by: Regs
A 3 bed room 2 1/2 bath house in NJ is about 500-800k on average. Taxes depend on your locale, but I would expect at least 3k-5k a year on taxes.

2 bed room 2 1/2 bath town houses around my area go for about 250k.

75k a year though is a pretty healthy salary.

mortgage + taxes on a 600k house with a 10% downpayment should be over $3000.00 / month.

75k / year comes out to roughly 4500.00 / month after taxes.

so, unless he is looking at a very large down payment, the numbers do not work.

i think it is hard to live comfortably in NJ for less than 130k / year if you expect to put down 10% or less.

edit

also, by comfortably, i'd say you have to get a 4 bedroom house (with 3 kids). i have 3 kids and 2 bedroom was not an option for me.

 

[mikej007]

You will live much more comfortably in DFW than in NJ...

 

[rh71]

dual income? I'm guessing not since this is a relocation thing, but does she plan to work too?

 

[FreedomGUNDAM]

ygpm

 

[SoulAssassin]

Didn't you have another thread on this?

Property taxes will be much higher, you have to pay state income tax in Jersey which I believe TX doesn't have, insurance will be much higher, roadways are highly congested in that area. You're basically a suburb of NYC or at least close to it so everything is going to be expensive. Unless the job itself will make you happier I would stay put. I'm from that area and considering moving to TX fwiw.

 

[Pabster]

Originally posted by: mikej007
You will live much more comfortably in DFW than in NJ...

On so many levels. :thumbsup:

 

[evident]

nj taxes suck. need more info from you for relocating. new brunswick area isnt as expensive as say nyc, but it's still not as cheap as dfw i would argue, since everything in NJ is expensive except gas and traffic sucks

if your wife makes a decent salary though, you would be set with that job! i would love to be making 75k a year, but i don't have a family. congrats on the offer!

 

[evident]

Originally posted by: akshatp
Jackson is not that close to Sayreville, so you will have a semi long commute. Freehold is closer, and not too pricey IIRC.

please, for your own sanity too, you DO NOT WANT A LONG COMMUTE if you are in NJ. traffic is abysmal. the turnpike is always congested, even on sunday nights. if you move, move close to your work.

 

[Sentrosi2121]

I am surprised that the relocation funds are not added as an incentive to move, especially from DFW (I'm assuming Dallas, correct?). Do they consider your bonus as the relocation fund? If so, that's pretty damn cheap of them.

 

[HannibalX]

They are offering 10k which presumably is to cover the move, but he has to front the move cost.

 

[Aharami]

if that 75K is the only income coming in, then no. its not enough to sustain a family of 5 in NJ. Now if there's a second income close to that amount, then yea, you can live comfortably in NJ.
Housing is probably more expensive. Food is probably more expensive. Insurance (car/house/etc) is more expensive. Transportation is more expensive. Property taxes are higher. NJ sucks actually

 

[Svnla]

OP, I was in the same situation like you a few years ago (job offer to move from East Texas to NJ..New Brurnwick to be exact). Here are my takes:

NJ cons = income tax, higher car insurance (NJ has the highest rate in the US), higher cost of housing (almost 50% more in my case..this was the main reason I didn't move to NJ)....oh and this is maybe just my opinion, but NJ was not as friendly as TX.

NJ pros = cheaper gas (and no extra charge for attendances to fill your car up).

Like other said, moving is expensive and very stressful. Don't take it lightly. I hated it and I didn't have a wife or kids.

Make a list of ALL of your expenses then compare the costs in TX vs. NJ and then add on the cost of $$ and time of moving. GL.

Last but not least, was you the one that moved from Northern part of the US (Penn) to DFW to work in a nuclear plant last year?