CNNMoney.com recently developed a “cost of living calculator” that can act as a reality check for either yourself or a client moving across the country.
Let’s say your home seller is moving to another coast and needs to know what salary bump to ask for, this is a great tool. If your investment client is simply throwing darts at a map, this is a good way to help them narrow down their needs before they spend all your time verbally dreaming about a condo development.
Example: Austin to San Fran
Take for example if we moved from Austin to San Francisco- we would have to make considerably more to sustain ourselves and just housing alone is 244% more expensive than where we are now and groceries alone are 37% more. But if we moved to Wisconsin, our housing would cost less. It seems common sense to you, but sometimes people need a reality check, especially if they’re still in the dart throwing phase of relocation or investment.
Plus, the calculator is fun to play with and made us realize how lucky we are to live in such a techcentric, gorgeous place so inexpensively!