One of the most-read posts in r/AskWomenOver30 this week came from a 36-year-old who landed her dream job, but taking it means selling a house that's almost paid off. It's a very particular kind of dilemma: the thing you worked for in your twenties is in the way of the thing you want in your thirties.
Money won't make the decision. It can stop it being made on a vague sense that "it'll cost a fortune". The calculator compares the one-off costs of moving with the monthly difference in pay and housing, and tells you when the move pays for itself, if it does.
The two options
What the numbers leave out
- The house as an asset. Selling turns property into cash. Whether you rent or buy in the new city changes the long-term picture a great deal, and nobody can promise which way prices will go.
- Renting it out instead. Some people keep the house and let it. That brings its own costs, rules and tax, and is worth discussing with a qualified adviser.
- The career. What would this job lead to in five years, compared with staying where you are?
- The people. Friends, family, a parent nearby. These have no column in a spreadsheet and often matter most.
Questions people ask
Should I include the profit from selling?
It's not included, because it's your money either way; it just changes form. What the calculator measures is the cost of moving and the monthly difference afterwards.
Is there tax on selling my home?
It depends on your country and circumstances. Check official guidance (IRS in the US, GOV.UK in the UK) or speak to a tax adviser.
Sources
Keep going
What does an extra payment really save?
See how many months and how much interest an extra monthly payment would save.
Where should this month's pay go?
Split take-home pay into needs, wants and savings, and compare with real spending.
What does cutting back for care really cost?
Estimate the pay and pension contributions you'd give up by cutting back for care.
