To Move or not to Move

S

Slowly

Guest
Age: 29
Spouse’s/Partner's age: 29

Annual gross income from employment or profession: 52,000
Annual gross income of spouse: 63,500

Type of employment: e.g. Civil Servant, self-employed: Both private sector

In general are you:
(a) spending more than you earn, or
(b) saving? - We're saving

Rough estimate of value of home
Amount outstanding on your mortgage: N/A - Renting @ 950 per month
What interest rate are you paying? N/A

Other borrowings – car loans/personal loans etc - None

Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?

Savings and investments: Total cash in our various accounts comes to 35k or so. We save between 2.5k to 3k a month depending on level of incidental spends. Wedding last year ate about 25k of our savings (!)

Do you have a pension scheme? I do, she doesn't

Do you own any investment or other property? No

Ages of children: None

Life insurance: Both covered through work at 4 times salary


What specific question do you have or what issues are of concern to you?
We are both from Cork but living in Dublin for several years now. We got married last year and would like to move back to Cork. It would appear the jobs market for me down in Cork is not too bad and I'd be confident of achieving parity of current wages. My wife would probably be looking at a drop to about 30-40k though (she currently works a shift pattern and the premium for that is boosting her wages significently). We'd like to start a family in the next year and would like to be near our family.

What would people advise? Should we start looking in Cork for jobs and take the plunge? Wait for a year or two and keep saving? I'm really hesitant to give up what we have but feel like we're putting our lives on hold.
 
The real question here - is your wife willing to sacrifice a better salary to be closer to her family? And to start a family? You are on a very secure wage and would be in a position to support a family should she decide not to work altogether (stay at home mum). If you both really want to move home and start a family, what arent ye doing that now? Your only motive in Dublin is her higher salary.
 
It is a decision only you can make. I have been in a similar position over the last few years and have decided to stay and work in Dublin (which I have come to like). What has helped is the improving roads back West, what used to be 7.5 hour roundtrips are now just over 4 hours. So I feel I can work in dublin with a good job but still get home when I want.

If you like Dublin (or at least don't hate it) then I would stay and build up a good financial cushion and in 3-5 years I would consider moving if I wanted to. At that stage your children would getting to the age where they would start going to school etc.
 
I think I'm hesitant because we would like to buy a house in the next couple of years and think we could probably gather a bigger deposit and end up with a lower LTV if we stay in Dublin for another while.

I definately hear what you're saying about the new roads Aristotle.....and we do enjoy our lives in Dublin. I suppose its a nesting thing. I'm inclined to go with my instinct and stick it out for a few more years as we are. We'd like somewhere semi rural with a bit of land and a house that will last us a lifetime space wise. Delayed gratification will make the eventual move all the more satisfying!
 
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