Is It Downsizing Time?






Taxes/Insurance and Other Costs Associated with Where You Choose to Live:
Many types of living costs depend on where you live - rural vs. urban vs. suburban, sometimes even down to the section of town you live in. And it's entirely possible that if you add up a few of these differentials, it could go a long way toward breaking a deadlock if you're having trouble deciding between locations. 

Minneapolis, or St. Paul? - they're right across the river from each other, and they look the same to me. I suppose Kansas City, Kansas and Kansas City, Missouri have even more differences, though they too "feel" about the same. Likewise a small town right over the hill from a major city would be a rich field for comparison.

In some circumstances, one can downsize without "trading down" in size/value, simply by virtue of moving to a location where the cost of living is lower. If this is an option for you, you might be able to relocate into a similar home/acreage and save. Couple it with actually downsizing your property, and you can save majorly.

There are so many factors that can mean higher or lower yearly outlay:

  • property taxes; income taxes; sales taxes
  • fire/flood/earthquake/tornado insurance zones
  • auto insurance rates and air quality testing requirements
  • commuting options; proximity of your shopping zone
  • children’s private school fees; availability of a junior college or local university
  • proximity and cost of other services/facilities (e.g., where you’ll be able to board your horse or berth your yacht or airplane!)
  • cost of food and other supplies
  • cost of utilities, which vary widely across the country
  • telecommunications services available locally
  • whether or not you’ll have to make a lot of phone calls to a nearby town in a different area code
  • cost of services (which tend to be higher in smaller towns, for instance) and wages (which is generally the reverse – nice if you’re the wage payer, not nice if you’re the wage earner)
  • etcetera!

We often overlook many of these living costs when choosing a landing spot. But whether you’re moving far away or just across a county line, the precise spot you choose may considerably affect your pocketbook.





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