CHAPTER 10 SCENARIOS THAT SHOW HOW THIS MOVE CAN COMPLETELY CHANGE YOUR NUMBERS AND YOUR LIFE Sometimes the best way to understand the power of moving from a high tax town to a lower tax one is to see how it plays out in real world style situations. These scenarios are simplified, and the numbers will vary depending on interest rates, credit profiles, tax year, and home values. But the patterns are real, and I have seen versions of these play out time and time again.
Scenario 1: The Maplewood to Paramus Upgrade Current situation: • Taxes: $32k • Home value: $900k • Monthly taxes: $2,666
New situation in Paramus: • Taxes: $19k • Home value: $1.1M • Monthly taxes: $1,583
Monthly savings: $1,083 (~$13k/yr)
This couple used the savings to buy a larger home with a bigger yard, more bedrooms, and more space to grow. Their total monthly payment stayed almost the same. Their lifestyle improved dramatically. Scenario 2: The Glen Ridge to Upper Saddle River Move Current situation: 44
Powered by FlippingBook