KateSH

Hello,
I have received some very helpful feedback from forum users about the pros and cons of living in London (specifically Chislehurst and surrounding areas) verses New York (specifically Summit and Montclair in New Jersey and Greenwich and surrounds in Connecticut) with my family (me, my husband, and two young sons). The question was posed as a result of us possibly having a choice in which of these country destinations we end up in. I have two questions/points of discussion, which I hope you can help me with.

1. If you have returned to the UK from NY, and particularly if you were living in Connecticut or New Jersey, why did you return? Did you enjoy the experience there? How did you rate the schools?

2. I am repeatedly told that for NY (even in the surrounding areas/states that I mention above), we will 'need a lot of money to live comfortably'. I appreciate that rent and property tax is very high in both US places, but my very rough calculations suggested that our cost of living in London (particularly given that in the UK our boys will attend a fee paying school, whereas in the States they will attend local school; and because of higher UK income tax) would be comparable to our two proposed US destinations.

So I am interested, and I know this will be entirely subjective and based on the lifestyle people lead, but does anyone have a ball park figure for what a family would need to earn to live comfortably in London (Chislehurst) with private education thrown in (15,000-20,000 pounds per year for two children) compared to living in either Greenwich or Summit with no school fees?

Thank you in advance.

not2old

A stab in the dark based on your information and to add what you asked on another thread

http://britishexpats.com/forum/usa-5...?#post11619312

First off 'the need to know' net income you'll have each year or month

ListenToTaxman Tax Calculator 2015 / 2014 UK Salary Calculator / Tax Calculator / Income Tax Calculator. Incorporates PAYE, national insurance, tax code, pensions and student loan repayments

Using ~$100,000US or in multiples, in UK currency, taking a gross £70,000/yr the net is approx £47,741/yr (£4000/mth)

- That the property (council) tax in the UK is lower than in NJ.
https://www.gov.uk/council-tax-bands

- Medical costs should be lower than the US if you are using the UK NHS, or, if going private, you'd need to pay medical insurance.

- That Utilities, grocery items & clothing are factored as the same as the US

- Will you be renting or buying (mortgage free)?

from the above (scale to size) with a net income of £4000/mth

- Council tax £125 - £180/mth

- Utilities (electricity, gas, water, landline phone, internet) minimum £150 to ~£250/mth (cell costs will be at your discretion)

- Childrens schooling fees + extra items £1500 - £2000/mth

- Mortgage or rent?

- House/car insurance, transportation costs (petrol /transit fares) for a family of four £500/mth

- All other expenses including groceries, clothing, social, entertaining ?

KateSH

Thank you not2old. Our idea is to rent for one year, be sure that we are settled at the school, and then look to buy.

not2old

kate, its really quite simple once you know your net income, minus the kids costs as well as the rent costs. The rest such as council tax & other living expenses are scaled to your lifestyle. The other consideration is will you be going the medicare (NHS) or private, will you be entertaining or travelling a lot etc

Good luck to you

WEBlue

For what it's worth (and may not be much, considering the locations both US & UK are somewhat different from yours), the husband & I found a few years ago that buying a family-sized house in our preferred area of Cambridge environs in the UK was out of reach for our budget, whereas here in coastal New England well northeast of Summit or Greenwich we found ourselves easily able to afford a larger house than we needed in 2013.

Now I don't know if your family will actually consider buying a house in NJ or CT in the USA, but if you do the price for a similar house/property in those towns will to my mind be lower than in the nicer London suburbs....

Just my 2p. Housing, restaurants, petrol--those categories of expenses hit me as being quite a bit cheaper in the US, as compared to costs in Cambs.

durham_lad

Healthcare could be a big factor, or not, depending on the health of you, your spouse and 2 children.

My wife and I are generally very fit, and have very good retiree health insurance from my previous employer but this last few years our out of pocket expenses, including monthly premiums and dentist visits (nothing other than check-ups and cleanings have been needed) have cost us,

2012 : $3.8k
2013 : $8.2k
2014 : $7.2k
2015 year to date $6.2k

GeordieinJersey

We have lived near Princeton NJ for 18 years we are expats from the UK .We lived in Essex and my husband commuted to London .Now he commutes to NYC . I think if you are sending your children to local township schools even if you are paying local NJ taxes , which can be high, you will save money . Also the cost of living is less expensive than the UK , clothing, food , gas ( petrol) are much cheaper also cars are cheaper and definitely housing compared to London you will get a v.nice house here on a large plot. However school districts are funded by local taxes so in order be in a good school district you will pay a premium you will have to consider more expensive areas it's as simple as that . Also the school systems is very different from the UK our school district has elementary school , upper elementary, middle school then high school .There are no half terms a week at Christmas and Easter and 12 weeks summer holiday and a a few bank holidays and Jewish holidays . Therefore the school year is quite intense a lot of homework even for elementary kids . We have had a great time here but the winters are freezing and the summers are hot and humid so be prepared for expensive heating and cooling bills. Also you must consider health costs if you get health insurance through your employer out of pocket costs will be affordable as long as you don't have a family member with a chronic or serious condition. My husband just had a small stroke and needed stents put in his arteries and an operation on his carotid artery our out of pocket costs with medication and hospital and doctors visited is so far about $ 12, 000 and we do have good insurance .Don't forget that the cost of travel back to the UK is also v.expensive especially if you have to travel in school holidays. Coming to the US was a great adventure for us and we really did not intend to stay this long our son was six when we arrived but once they get involved in school it is hard to disrupt them again . We are moving
back to the UK next year we have loved our time here but as you get older that yearning for home and family gets stronger .Hope this helps .Good Luck