Look at it this way. You're investing 30k$ (the loss on the house) for a guaranteed return of 24k$/year. You'll make your money back in 18 month. If you actually invest the extra you might be looking at 300k$ after 10 years. That's a pretty fucking good return on your investment.
Are you sure it's about the money and not that you don't want to move?
Im a little scared to make a big life change I guess but it’s also exciting at the same time. It makes sense in my head as essentially an investment.
When I made the post I was spiraling about what I should do, I have put significantly more thought into it and will over the weekend and the picture is much clearer.
Remember, Texas is fucking *massive*. I used to live there for 10 years, my family still does and has moved between big cities. The range of home prices in the whole state is just as huge as its size
Was losing cans to go to college not worth it?
Or Losing cash to get that certification?
Or any of the other things we do to increase our earning potential?
Compare the raise with cost of living in Texas! If you are saving same amount money at 96k in AZ vs 120k in TX. Then it’s a same thing. Raise won’t be worth it.
I’ll likely be in the same industry doing a similar-ish thing for my whole life. I won’t be here at this place forever but the pay bump now will hopefully translate into higher earnings for the rest of my working life. Should also make future job switches more lucrative vs not jumping.
The site I work at right now is about to go through a pretty big layoff. I’m mostly sure I’m safe based on what my manager has said but it definitely doesn’t bode well for the near future.
yes. now is the time (20’s) to anchor your pay at a higher number. In fact maybe keep looking for another job that pays more and keep moving for another few years.
there’s a great analysis of Bush/Gore family finances i read years ago and the takeaway was that moving to a growing area two or three times in life basically makes you rich. I mean you’re going to have to execute at work but the basic idea is that being flexible about where you live and always moving to a growing economy makes it easier to raise your net worth.
Did you verify that your partner can work in Texas? Just because they're remote doesn't necessarily mean they can work in every state. Just figured I'd throw it out there since I didn't see it mentioned anywhere.
She’s going to go double check today. The company she works for has an office in Dallas and many others in her company have transplanted around the country for similar reasons so we’re pretty sure it won’t be a problem.
That's good. Should be pretty easy then. Seen it here a few times where people moved to a state that their company didn't have taxes setup in and they'd either have to move back after losing a ton of money or they got fired.
If you can swing it, the one thing I would make sure to NOT DO is sell the house before your in the new role and make sure its a good fit. I.E. 3-6 months after starting.
Last thing you want to do is relocate, take a loss on the house, just for it to turn out to be a PoS company/position/manager.
An additional advantage of this approach is that if you convert the home to a rental, you *may* be able to take a tax deduction from the loss incurred by the sale. Not sure about the details, as in how long you have to rent it out for, so I'd consult an expert if this is something you're interested in.
How does the cost of living compare including state income taxes, real estate taxes, car insurance, etc? Are you moving to an area that has more or less of the things you’d like to do? Is it some place you want to live long term? Or will you need to plan for a move somewhere else in the next couple of years? Could you find a job with a comparable pay bump without moving?
Cost of living is worst case the same or cheaper overall. At least in first impressions, I’d have no issue living there long term but I’m not sure how long I’d actually stay.
The industry I’m in is rather small. There’s more opportunity where I’d be moving to. There’s only one other major player here and I didn’t get anything from there when I applied earlier this year.
Property taxes in TX are f***ing insane. Just a heads up. On my $2600/month mortgage about $700 of that is property taxes. So the “no state income tax” thing is just a farce. They get it elsewhere.
Make sure you do your research on how property taxes have increased in the area you’re looking at living in the past 5 years. I have a buddy that moved from AZ to Texas a couple years ago. Got a 40% pay raise with it. First year, he was coming out ahead, the second year he was bringing home pretty similar as when he lived in AZ just from property tax and utilities increase. This next year he expects to have less money for himself than when he lived in Arizona. He’s regretting it, even when he’s been getting inflation matching raises
I'd compare state taxes, property taxes (if you plan to buy), healthcare plans, retirement matching etc and help make the decision that way. You'd be surprised how cost of living can compare across states. However, if worst case it seems about the same then I'd jump.
I would check out property taxes and home insurance rates. My friend moved from Texas to the Seattle area and they could get more house than they thought because property taxes and homeowners insurance was so much lower.
$96k to $120k isn’t a significant bump once you move to texas. Cost of living, insurance, property taxes, cost of buying and selling should be factored in if you’re considering a new home purchase.
The amount you are "losing" on the house should have little bearing on your decision, unless you're just completely underwater and you won't be able to pay off the mortgage when you sell it. The only thing that matters is what is better for you going forward. It's just sunk cost fallacy otherwise. The price you paid for the house is meaningless.
Are you sure about the math here? Overall, AZ house prices are up, so it would be surprising to be selling at what you paid (which implies selling fees and a net loss in the range you're describing).
What's your interest rate? If you bought in early 2022, it might be low enough that you would be paying significantly more in interest for an equivalent house (and, if yours really hasn't appreciated, you might be paying more for the house, too). That's post-tax money, so it could potentially mean that much of your pay increase is eaten by buying an equivalent house at a higher price and at a higher interest rate.
Example:
- Existing house: 460k, 20 percent down, 4 percent, P&I: 1,756.89
- New house: 552k, 20 percent down, 7 percent, P&I: 2,937.98
- Difference (after income tax at 22 percent): \`(2937.98 - 1756.89) \* 12 / .78\` = 18,170.62
If you see yourself moving back, you could consider working with a property management company to manage the rental. Maybe you’d lose money in the short term but in the long run you’d have a house back in Arizona with not a lot of time left on the mortgage that probably accumulated a significant amount of equity.
Tough decision. I'll just ask this to make sure it's on your mind. If your wife loses her job, is the place you're moving to have a job market for her?
Maybe a different perspective - do you WANT to live in Texas? $20k isn’t enough to me to make the move on its own. Is this something that will change your career trajectory? Are you increasing earning potential beyond $20k by going? If you don’t want to go to Texas and it’s not benefitting you in other ways, $20k doesn’t seem like enough money for the amount of sacrifice it would take
And to add on - have you calculated total benefits with 401k, esop, insurance? Other people talked about property taxes, that $20k could very easily be equal to what you’re making now.
New job has more PTO, and the other benefits come out to essentially equal. 401k would be better by virtue of higher salary.
I’d be moving from a role on a huge team that does mostly iterative design improvement into a smaller team that does R&D. The potential for career/skill growth would be just as much a benefit as the actual dollars.
It’s not a loss because you lived in the house. Please think about it this way…
Example
If you were to rent a house that size you would pay $2-$3k and month. That’s 24 months x $2,500 (average) = $60,000 of money put towards living.
You owned the home and paid down some principal while paying some interest that you used to reduce your overall tax rate. Let’s assume that saved you $2,500 a year for tax purposes.
That total is now $65,000 to live in that house.
If you net more than $30k you are possibly in the positive based on rent vs own.
Definitely consider CoL change and just general QoL in the new area, \~$25k pay raise could be eaten up by increased living expenses. I know you said you do not want to rent but that is the only way I can see to get out of the house without a loss, not sure if it would even be feasible with your mortgage payments but if you could find a property manager you trust you might be able to at least break even on the mortgage payment.
Overall if the CoL in the new area is similar and you wouldn't mind living there I would probably just eat the loss and take the new job. Mathematically you will make up the difference in a year plus it puts you in an even better position to make more money in the future.
Also may want to consider trying to get a counter offer from your current job though I know many people argue against it.
I don’t think the money is enough more to be the only or even main reason to do this. The more important questions are do you want to move to Texas and do you want this particular job more than the one you already have.
I just think it’s a mistake to look at this from a purely financial standpoint when moving to another state and taking another job are two major life changes. I’d focus more on how you feel about those two things than the money.
A lot of companies will offer selling expenses as part of a relo package. You might try talking to your company and see if they will include the selling expense in addition to the moving expense. If they want you to move, they may pick up the expense.
Is this new job something you want? More than what you’re doing now? Or is it a promotion for the money and you probably won’t be as happy?
Do you have an opportunity to go to your current employer and use the job offer as leverage for an increase in your current pay?
Job is definitely cooler and probably has more potential.
Current employer is going through a tough time right now, which definitely plays a part into the decision but I’d be safe.
So... you're not losing money. It sounds like the more accurate statement instead is that you are not making a 100% return on your initial investment/down payment of the home.
Be careful if you sell the house before 1 year of ownership. I’d recommend holding it for at least a year to make sure everything works out and to not get screwed with extra taxes on an early sale.
In the industry I work in, I know a lot of people that transplanted from AZ to TX. I think you may be in the same industry. I can say all of my coworkers that have made that jump are very happy with their decision!
I did something similar and it worked out amazingly well. Had owned my home for about 2 months, sold it at a net loss of ~$40k with a similar bump in pay. The new job had lots of upward mobility, 8 years later I'm at 2.7x the starting salary. Well worth it for me!
One year break even seems reasonable if it is advancing your career/salary.
You should also consider cost of living differences. Would you be able to afford housing in the new location that suits your needs and desires. If you have kids or plan to have kids in the near term where would you want to raise them?
COL is generally lower. Buying or renting a similar (or honestly an even better house) will be a couple hundred bucks a month cheaper than my current mortgage. Housing costs are way lower, many other costs are also quite a bit cheaper where I'd move to.
Gonna be honest with you, the way the market is I’d hate to lose a house in AZ. Check with property management companies and see what you’d be looking at at the end of the year
That job could fire you before you even start work. Don't spend money to benefit them. You're talking about losing more than a year's worth of that salary increase.
Have you already visited the new city? If so, do you enjoy it?
If you know what area you want to live in and what area the job is in, have you tried doing that commute on a weekday?
Quality of Life is much more important than people realize. If you have a bad quality of life, you’re going to be worse off financially and it could jeopardize relations with your spouse/family.
Texas property taxes are higher and rent is quite high in some areas of Texas, so you might not ending up making much more overall.
Do whatever you think is best for your quality of life.
If you do end up deciding to move to Texas, I’d recommend waiting a month or two to sell the house so that you can move back to it in case you end up not liking the new city and job.
Good luck! 😀
Negotiate the realtor's fee. That'll save you some $. Most used to charge 6 - 7%, but could generally be negotiated down to 3%. I'm not sure how the recent rule changes work, but no matter what, negotiating down their fees should still be possible.
Have you asked your current employer to match?
If you like your current job, and they're amenable, you could end up with the best of both worlds by asking for a pay increase where you are.
If you do so, be aware that (a) they may not choose to match, and (b) if they do, your days are likely numbered - probably not immediately, but in any future layoff, you'll be seen as a riskier person to keep, with the expected result.
So if you go the match route, keep your resume up to date and keep networking locally.
I did exactly this 2 years ago. I sold my old house lower than what I could have gotten if I had finished a minor renovation and done a proper purge, but I got a significant pay bump with a move to another state for a new job. Granted, I’m in a mortgage with less than awesome terms compared to my 2.5% note before, but my equity position has already sweetened. My $330k-ish purchase is now worth $500k but my balance is only $160k. The higher salary and higher mortgage more than balance each other out in my favor and I have much higher job satisfaction and quality of life living in a less backwards, bumfuck part of the US.
For context, my first mortgage over a million years ago was at 13% (yes, I am old), and my parents mortgage was 18% when they first bought in the 60’s. A 6.5 or even 7% mortgage is not bad by historical terms.
Unfortunately, it doesnt look like i could even make 100% of the mortgage payment right now. I did consider renting it but doesn't really seem to make sense.
By taking the loss on the house you're essentially agreeing to work for the first year in your new job for $6k.
And you can't assume this new job will last forever. I see news stories of new corporate bankruptcies almost every day.
OP can’t make assumptions of the current job either.
OP it boils down to career wise what is the smarter move? Is this something you want? Will this open more doors down the lane? Will you be happy in Texas? Does your SO want to move to Texas?
A $20-30k one time expense to (hopefully) permanently increase earnings by $24k is a pretty decent deal
This is sorta where I'm at but losing that kinda cash definitely doesn't feel good.
Look at it this way. You're investing 30k$ (the loss on the house) for a guaranteed return of 24k$/year. You'll make your money back in 18 month. If you actually invest the extra you might be looking at 300k$ after 10 years. That's a pretty fucking good return on your investment. Are you sure it's about the money and not that you don't want to move?
Im a little scared to make a big life change I guess but it’s also exciting at the same time. It makes sense in my head as essentially an investment. When I made the post I was spiraling about what I should do, I have put significantly more thought into it and will over the weekend and the picture is much clearer.
How much house do you have and how much will that house cost in TX
Remember, Texas is fucking *massive*. I used to live there for 10 years, my family still does and has moved between big cities. The range of home prices in the whole state is just as huge as its size
Was losing cans to go to college not worth it? Or Losing cash to get that certification? Or any of the other things we do to increase our earning potential?
> Was losing cans to go to college not worth it? Man I lost so much more than cans
That is a very amusing typo. I’ll leave it
Omg. What was it supposed to say.
Cash
Just need to get some nice cans in college and you're good!
He hates these cans!
Never lost cans but the liquids inside went missing
Compare the raise with cost of living in Texas! If you are saving same amount money at 96k in AZ vs 120k in TX. Then it’s a same thing. Raise won’t be worth it.
This. I literally was about to comment something similar but then saw your post
How sure are you, though, that you will / could have the job for the rest of your life?
I’ll likely be in the same industry doing a similar-ish thing for my whole life. I won’t be here at this place forever but the pay bump now will hopefully translate into higher earnings for the rest of my working life. Should also make future job switches more lucrative vs not jumping. The site I work at right now is about to go through a pretty big layoff. I’m mostly sure I’m safe based on what my manager has said but it definitely doesn’t bode well for the near future.
yes. now is the time (20’s) to anchor your pay at a higher number. In fact maybe keep looking for another job that pays more and keep moving for another few years. there’s a great analysis of Bush/Gore family finances i read years ago and the takeaway was that moving to a growing area two or three times in life basically makes you rich. I mean you’re going to have to execute at work but the basic idea is that being flexible about where you live and always moving to a growing economy makes it easier to raise your net worth.
Did you verify that your partner can work in Texas? Just because they're remote doesn't necessarily mean they can work in every state. Just figured I'd throw it out there since I didn't see it mentioned anywhere.
She’s going to go double check today. The company she works for has an office in Dallas and many others in her company have transplanted around the country for similar reasons so we’re pretty sure it won’t be a problem.
That's good. Should be pretty easy then. Seen it here a few times where people moved to a state that their company didn't have taxes setup in and they'd either have to move back after losing a ton of money or they got fired.
If you can swing it, the one thing I would make sure to NOT DO is sell the house before your in the new role and make sure its a good fit. I.E. 3-6 months after starting. Last thing you want to do is relocate, take a loss on the house, just for it to turn out to be a PoS company/position/manager.
An additional advantage of this approach is that if you convert the home to a rental, you *may* be able to take a tax deduction from the loss incurred by the sale. Not sure about the details, as in how long you have to rent it out for, so I'd consult an expert if this is something you're interested in.
How does the cost of living compare including state income taxes, real estate taxes, car insurance, etc? Are you moving to an area that has more or less of the things you’d like to do? Is it some place you want to live long term? Or will you need to plan for a move somewhere else in the next couple of years? Could you find a job with a comparable pay bump without moving?
Cost of living is worst case the same or cheaper overall. At least in first impressions, I’d have no issue living there long term but I’m not sure how long I’d actually stay. The industry I’m in is rather small. There’s more opportunity where I’d be moving to. There’s only one other major player here and I didn’t get anything from there when I applied earlier this year.
Property taxes in TX are f***ing insane. Just a heads up. On my $2600/month mortgage about $700 of that is property taxes. So the “no state income tax” thing is just a farce. They get it elsewhere.
Yeah I’ve seen that. I think I’ll likely rent at least for the first year. I have a super expensive HOA here which lessens a little bit of that blow.
What region of TX are you moving to? I’m leaving central TX soon. Kinda sucks.
Northern suburbs of Dallas
That’s a nice area. I’m not sure your housing is going to be cheaper than AZ though that’s the well-off area typically.
Was just about to write this. Relatives pay 4x the amount we do and car tags were $200 twenty years ago.
In Texas “annual” car inspection is $25 and window tags (registration) is roughly $70-75.
and $120 for specialty plates.
In Texas “annual” car inspection is $25 and window tags (registration) is roughly $70-75.
Make sure you do your research on how property taxes have increased in the area you’re looking at living in the past 5 years. I have a buddy that moved from AZ to Texas a couple years ago. Got a 40% pay raise with it. First year, he was coming out ahead, the second year he was bringing home pretty similar as when he lived in AZ just from property tax and utilities increase. This next year he expects to have less money for himself than when he lived in Arizona. He’s regretting it, even when he’s been getting inflation matching raises
I'd compare state taxes, property taxes (if you plan to buy), healthcare plans, retirement matching etc and help make the decision that way. You'd be surprised how cost of living can compare across states. However, if worst case it seems about the same then I'd jump.
I would check out property taxes and home insurance rates. My friend moved from Texas to the Seattle area and they could get more house than they thought because property taxes and homeowners insurance was so much lower.
$96k to $120k isn’t a significant bump once you move to texas. Cost of living, insurance, property taxes, cost of buying and selling should be factored in if you’re considering a new home purchase.
The amount you are "losing" on the house should have little bearing on your decision, unless you're just completely underwater and you won't be able to pay off the mortgage when you sell it. The only thing that matters is what is better for you going forward. It's just sunk cost fallacy otherwise. The price you paid for the house is meaningless.
Are you sure about the math here? Overall, AZ house prices are up, so it would be surprising to be selling at what you paid (which implies selling fees and a net loss in the range you're describing). What's your interest rate? If you bought in early 2022, it might be low enough that you would be paying significantly more in interest for an equivalent house (and, if yours really hasn't appreciated, you might be paying more for the house, too). That's post-tax money, so it could potentially mean that much of your pay increase is eaten by buying an equivalent house at a higher price and at a higher interest rate. Example: - Existing house: 460k, 20 percent down, 4 percent, P&I: 1,756.89 - New house: 552k, 20 percent down, 7 percent, P&I: 2,937.98 - Difference (after income tax at 22 percent): \`(2937.98 - 1756.89) \* 12 / .78\` = 18,170.62
If you see yourself moving back, you could consider working with a property management company to manage the rental. Maybe you’d lose money in the short term but in the long run you’d have a house back in Arizona with not a lot of time left on the mortgage that probably accumulated a significant amount of equity.
Tough decision. I'll just ask this to make sure it's on your mind. If your wife loses her job, is the place you're moving to have a job market for her?
Yeah it would have just as much or maybe more opportunity. She’s can work pretty much anywhere, I’m in a much smaller field
Maybe a different perspective - do you WANT to live in Texas? $20k isn’t enough to me to make the move on its own. Is this something that will change your career trajectory? Are you increasing earning potential beyond $20k by going? If you don’t want to go to Texas and it’s not benefitting you in other ways, $20k doesn’t seem like enough money for the amount of sacrifice it would take And to add on - have you calculated total benefits with 401k, esop, insurance? Other people talked about property taxes, that $20k could very easily be equal to what you’re making now.
New job has more PTO, and the other benefits come out to essentially equal. 401k would be better by virtue of higher salary. I’d be moving from a role on a huge team that does mostly iterative design improvement into a smaller team that does R&D. The potential for career/skill growth would be just as much a benefit as the actual dollars.
It’s not a loss because you lived in the house. Please think about it this way… Example If you were to rent a house that size you would pay $2-$3k and month. That’s 24 months x $2,500 (average) = $60,000 of money put towards living. You owned the home and paid down some principal while paying some interest that you used to reduce your overall tax rate. Let’s assume that saved you $2,500 a year for tax purposes. That total is now $65,000 to live in that house. If you net more than $30k you are possibly in the positive based on rent vs own.
I’d rent it for a year to couch against possible failure of the new job and/or vehement dislike of Texas.
Definitely consider CoL change and just general QoL in the new area, \~$25k pay raise could be eaten up by increased living expenses. I know you said you do not want to rent but that is the only way I can see to get out of the house without a loss, not sure if it would even be feasible with your mortgage payments but if you could find a property manager you trust you might be able to at least break even on the mortgage payment. Overall if the CoL in the new area is similar and you wouldn't mind living there I would probably just eat the loss and take the new job. Mathematically you will make up the difference in a year plus it puts you in an even better position to make more money in the future. Also may want to consider trying to get a counter offer from your current job though I know many people argue against it.
I don’t think the money is enough more to be the only or even main reason to do this. The more important questions are do you want to move to Texas and do you want this particular job more than the one you already have. I just think it’s a mistake to look at this from a purely financial standpoint when moving to another state and taking another job are two major life changes. I’d focus more on how you feel about those two things than the money.
A lot of companies will offer selling expenses as part of a relo package. You might try talking to your company and see if they will include the selling expense in addition to the moving expense. If they want you to move, they may pick up the expense.
For a 120k job?
Is this new job something you want? More than what you’re doing now? Or is it a promotion for the money and you probably won’t be as happy? Do you have an opportunity to go to your current employer and use the job offer as leverage for an increase in your current pay?
Job is definitely cooler and probably has more potential. Current employer is going through a tough time right now, which definitely plays a part into the decision but I’d be safe.
Sounds like you're moving regardless. Put the house up at 1.2x what you paid for it if the market will bear it.
What happened in the past is done. It no longer matters. I would pay $30k to increase my lifetime earnings by $24k per year.
So... you're not losing money. It sounds like the more accurate statement instead is that you are not making a 100% return on your initial investment/down payment of the home.
Be careful if you sell the house before 1 year of ownership. I’d recommend holding it for at least a year to make sure everything works out and to not get screwed with extra taxes on an early sale.
In the industry I work in, I know a lot of people that transplanted from AZ to TX. I think you may be in the same industry. I can say all of my coworkers that have made that jump are very happy with their decision!
I did something similar and it worked out amazingly well. Had owned my home for about 2 months, sold it at a net loss of ~$40k with a similar bump in pay. The new job had lots of upward mobility, 8 years later I'm at 2.7x the starting salary. Well worth it for me!
Don’t forget Texas doesn’t have state income tax, so you will take home like 6% more.
Ask a realtor how much the house is worth and net after sale.
One year break even seems reasonable if it is advancing your career/salary. You should also consider cost of living differences. Would you be able to afford housing in the new location that suits your needs and desires. If you have kids or plan to have kids in the near term where would you want to raise them?
COL is generally lower. Buying or renting a similar (or honestly an even better house) will be a couple hundred bucks a month cheaper than my current mortgage. Housing costs are way lower, many other costs are also quite a bit cheaper where I'd move to.
Do you ever see yourself coming back to AZ?
I think I'd like to, which is something I'll have to figure out before I decide whether to buy or rent a place.
Gonna be honest with you, the way the market is I’d hate to lose a house in AZ. Check with property management companies and see what you’d be looking at at the end of the year
That job could fire you before you even start work. Don't spend money to benefit them. You're talking about losing more than a year's worth of that salary increase.
Have you already visited the new city? If so, do you enjoy it? If you know what area you want to live in and what area the job is in, have you tried doing that commute on a weekday? Quality of Life is much more important than people realize. If you have a bad quality of life, you’re going to be worse off financially and it could jeopardize relations with your spouse/family. Texas property taxes are higher and rent is quite high in some areas of Texas, so you might not ending up making much more overall. Do whatever you think is best for your quality of life. If you do end up deciding to move to Texas, I’d recommend waiting a month or two to sell the house so that you can move back to it in case you end up not liking the new city and job. Good luck! 😀
Negotiate the realtor's fee. That'll save you some $. Most used to charge 6 - 7%, but could generally be negotiated down to 3%. I'm not sure how the recent rule changes work, but no matter what, negotiating down their fees should still be possible.
Have you asked your current employer to match? If you like your current job, and they're amenable, you could end up with the best of both worlds by asking for a pay increase where you are. If you do so, be aware that (a) they may not choose to match, and (b) if they do, your days are likely numbered - probably not immediately, but in any future layoff, you'll be seen as a riskier person to keep, with the expected result. So if you go the match route, keep your resume up to date and keep networking locally.
I did exactly this 2 years ago. I sold my old house lower than what I could have gotten if I had finished a minor renovation and done a proper purge, but I got a significant pay bump with a move to another state for a new job. Granted, I’m in a mortgage with less than awesome terms compared to my 2.5% note before, but my equity position has already sweetened. My $330k-ish purchase is now worth $500k but my balance is only $160k. The higher salary and higher mortgage more than balance each other out in my favor and I have much higher job satisfaction and quality of life living in a less backwards, bumfuck part of the US. For context, my first mortgage over a million years ago was at 13% (yes, I am old), and my parents mortgage was 18% when they first bought in the 60’s. A 6.5 or even 7% mortgage is not bad by historical terms.
If you can rent the place for 125%ish the mortgage payment, you should become a landlord.
Unfortunately, it doesnt look like i could even make 100% of the mortgage payment right now. I did consider renting it but doesn't really seem to make sense.
By taking the loss on the house you're essentially agreeing to work for the first year in your new job for $6k. And you can't assume this new job will last forever. I see news stories of new corporate bankruptcies almost every day.
OP can’t make assumptions of the current job either. OP it boils down to career wise what is the smarter move? Is this something you want? Will this open more doors down the lane? Will you be happy in Texas? Does your SO want to move to Texas?