[USER]

Need insight on my dilemma please!
I am finally on the other side of a painful divorce.
46yo female, no children.

I am thinking of relocating to an extremely HCOL state to be closer to family. But the home prices are so high, I’m not sure if I can manage the move.

My financial picture:
I stand to net about $330k from the sale of our marital home (currently on the market).
My current income is $170k per year

My current portfolio:
Brokerage accounts $500k
Retirement accounts $775k
Crypto $145k
HYSA $100k

If I moved to the HCOL state, my income may increase 15% -20% potentially.

If I moved to the HCOL state, the home prices are almost double compared to where I currently live…
A modest home is approx 800k – $1.1million.

HCOL state also means more taxes overall.
My monthly expenses are approx $4k.

Part of me says, don’t get bogged down in the details and just move. Nothing is more important than family. You can’t get that time back.

The other part of me says, stay put in your current state and continue making the effort to visit frequently.

Any insight on my dilemma would be greatly appreciated!

[Heather]

Move in with your parents. Help them in their old age 🙂
Or if not, downsize and buy a 2-bedroom condo

[Lauren]

money’s not the most important thing. I also live in a HCOL area to be near family.

Money can get you what you want from life, and if that’s what you want, do it!

[Sneha]

I would rent for a while and buy when you have more saved up. I would spend energy on building a life you wanted and finding good ppl to surround yourself with.

You are good saver, you should be able to buy something in few years.

[Donna]

Rent a 1 bedroom in the HCOL area close to family and see if that’s what you are really looking for.

Very risky to buy an expensive home right away and maybe hard to sell and may lose money if it ends up that that is not what you are looking for.

Being close to your family doesn’t mean you can be together as much as you want as these people have their own lives too, you are single with no children so many things you can do with your time and will reinvent yourself so try to settle things first and get to know the new you first.

Also, you might meet someone and you might want to buy with that person.

[Diane]

It’s quite simple really. Where do you want to live? Details will fall in to place when you have decided what’s right for you.

I wouldn’t rush in to buying a home right away though.

Get an apartment or stay with family and decide if it feels right to be home.

You have the answer within yourself. Trust it

[Jeremy]

Maybe it’s just me but with that net worth I’d be retired. Maybe considering moving in with family if possible while helping with expenses, or full FIRE and start traveling abroad

[Randy]

You are loaded with a high income. What the heck are you concerned about? Make the move.

Enjoy your family and that HCOL area.

I would.

[Alexandra]

I would absolutely rent for a while until you figure out your next move and have time to reflect and rest.

[Nicole]

Not sure I would buy a home right away regardless, rent first and get your life together and remain mobile.

[Kathy]

If you put you proceeds from your house you can do something that you don’t pay taxes on the gain if you buy another one, so I would do that.

Then I would buy something that is reasonable and try to avoid hoa, safe but schools don’t need to be the best with no kids.

Family is more important than money

[John]

Your $4k per month in expenses. Does that include housing costs in your current area?

[Abeer]

Visit frequently! It’s easy to travel. Try that out if it gets old then make the move.

I have found everyone is busy, you think the grass is greener but it isn’t always.

Congrats on your divorce!!!

[Christina]

How much longer do you plan to work? How easy would it be to find a job in the HCOL area? I’d secure a job, then rent instead of buying.

Who knows what/where the next chapter will take you.

[Joe]

depends what you are looking for next. seems like being near family is important esp after a divorce.

unless you’re looking to date again ~ recommend just renting for a year and go from there.

[Jule]

The numbers don’t make sense to move. I’d just make frequent visits. Even every other week, if you could.

Besides, visits are often more exciting than when they see you every day.

[Cathy]

Rent for a year. Don’t get tied down to anyone, anything or anywhere. Work on YOU.

Then decide what you want and where you want to be. Use this next year to be YOU and get YOU back.

Best of luck. Congratulations.

[Author]

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