Before deciding to move to that new location, make sure you know how much it will really cost you to live their. Residents fed up with high property taxes or expensive housing may be tempted to relocate to a home in a lower-cost region. People who fail to do their homework may get burned. Whether you are moving by choice or by necessity, you should evaluate all the costs of relocating because costs vary a lot even within a metropolitan area. Before you move, weigh the following costs:

Transportation

After housing, transportation is the second-biggest expense for most households, according to the Center for Neighborhood Technology in Chicago. Costs can be high whether residents drive their own cars or use public transportation. The first calculation when it comes to choosing a place to live should be this: You don’t live your life in your home, you live it outside your home. While homeowners generally are urged to keep housing costs to no more than 31% of income, the combined costs of housing and transportation should not exceed 45% of income. Many home shoppers budgeting for a new home weigh their monthly payment, taxes and insurance, but they don’t always estimate their transportation costs. It’s a mistake to think of transportation costs purely in terms of commuting. For every five miles that the average person drives, only one mile is for commuting. People need to think about the compactness of their neighborhood, how far they need to drive to reach places like the grocery store, school and medical offices.

Taxes

Taxes are especially important when comparing the overall cost of living in one area to another. Property taxes will be estimated on each home listing, but everyone should also review sales taxes and state and local income taxes. Some states also have personal property taxes on items such as cars and boats, which can add to the cost of living.

Insurance and utilities

It is recommended that people contact their insurance agent to receive an estimate of the costs of car insurance and homeowners insurance in the new location. People moving to a flood-prone or tornado-prone area may find they need additional hazard insurance. Car insurance costs depend not only on the car and driver, but also regional theft and accident rates. Utility costs also can vary from region to region. Utility costs have a lot to do with the size of the property and the energy efficiency of the design and the systems. The best way to estimate them is to get copies of the utility bills from the owners.

Other costs

Even the cost of basic groceries and medicines can vary from place to place. For example, someone earning $200,000 in Washington, D.C., would need 30% more income to maintain his or her lifestyle in New York City. By contrast, that same D.C. resident could earn 33% less in Dallas and still maintain the same lifestyle. It’s very important for people to know what the fees are and what they cover in terms of amenities and maintenance. You need to look at the association’s finances and ask about the rate of increase in fees. Of course, costs are not the only factor in deciding whether or not to relocate. I think the primary consideration should be quality of life.  As long as they can afford to live there and still save for retirement, people should choose where they want to live.

Read at: http://realestate.msn.com/article.aspx?cp-documentid=24764498&GT1=35005

According to a recent survey released by Whole Foods Market, 68% of adults say the economy has affected their cooking and eating habits. More than 50% of consumers say they are eating dinner at home more often to save money. But cutting costs on dining out doesn’t mean giving up on the joys of great company and delicious foods. The changing economy has many Americans bringing their love of food back into the comfort of their own kitchens. And with a wealth of supermarket coupons and in-store specials available, entertaining at home is easier than ever and more affordable. So even if a fancy meal out with friends isn’t in your budget, you can still enjoy spending quality time together over a delicious meal.

Here are a few budget-friendly tips to make the most out of dining in:

Prepare Foods that Stretch. It’s important to make every dollar count. Soups, pastas and casseroles are not only easy to make, but they’re an economical way to feed a large group. Not sure what to make? Many food websites offer a “budget friendly” category for inspiration.

Make it a Game Night. Invite guests to bring over a few of their favorite games. Pair up into teams and rediscover the joy of a little friendly competition. Whether you’re the reigning card champion or experiencing the latest gaming phenomenon for the first time, you’re sure to enjoy an evening filled with fun and laughter.

Host a Potluck. Forget buying expensive groceries and spending hours in the kitchen. Encourage guests to bring a dish of their own for a tasty potluck. From homemade pasta salads to delicious breads and indulgent desserts, you’ll have a variety of taste-tempting foods that will be the talk of the party. Plus, everyone loves to help out the hostess.

http://rismedia.com/2010-02-27/around-the-home-the-comforts-of-dining-in/