How much do I need saved to move to dallas.?

Question

Hi I'm from NYC and plan to make my move to Dallas sometime next year. My question is how much do I need saved to move to Dallas. I am currently working in NYC and have to move to Texas in about 9 months. If I find a job first great but if I dont I will have to quit my job and then find one. So how much do I need saved?

Answer 1

Let's see...depending on where you live, rent will run $600 - unlimited.  Some apartment complexes have deals where you can pay $150 deposit, some require a full month's rent as deposit.

So let's just say you get an apartment for $600, and the landlord wants $600 for deposit, that's $1200 to move in (most places in Dallas do NOT charge first and last month's rent, just first month and a deposit).

Turning on utilities will require a deposit.  Electric will be $200 - $300 just to get it turned on, gas will be about $150, cable will be about $150.  Water, sewer, and trash are typically covered by the landlord.

So that is $1200 plus about $600, or $1800 just to get in the door.

You will have to re-register your car, and get new insurance.  That will vary depending on the type of car, and your credit.

Electric at this time of year will run about $200 a month, gas depends on which appliances you have that are gas, but my bill is around $25 a month in the summer.  Cable will run about $100.

So there you have it.  Your basic expenses in Dallas outlined.  You should be able to figure out with savings how long you can last without a job.

Answer 2

Cost of living in the Dallas-Fort Worth area is 25% to 45% less than the cost of living in NYC ... depending on where you plan on living.

I.e., calculate what your living expenses are for 6 months ... and then reduce by 30%.   Why 6 months ... because, even though the economy is not shrinking, neither is it growing all that much.  DFW area is expecting only about a 2% growth rate in new jobs.   So, to land the kind of job you desire, figure on about a 3 to 4 months unemployment period.

I recommend you start your job search, now!!