October 2019 15k SPAM Thread

[Orchid PE]

I just want to throw out a Thank You to all you guys. I love discussing adult stuff with other people that actually care; it helps me learn and grow as an adult. There aren't many people my age that are as.... developed in life as I think I am, so it's hard to talk about this stuff with them.

 

[LyceeFruit PE]

I definitely don't feel adult-y enough for most of these convos so ya know, just gonna read and learn and hope for the best when I get around to buying a place.

Moving in with boyfriend means saving a bunch on my bills & gas. But I also feel like I should help pay down the loans my mother took out for my education 

 

[JayKay PE]

Where I came from in FL, the average home when I bought was like $150k. And they were good homes. Now those home are like $200-225k. A nice fancy home could be bought for $300k. Heck, my house here in TN is 3x as nice as the one I had in FL, but I bought for as much as I sold the one in FL.

Yeah.  Those prices confuse me because they're too low.  An average home in Suffolk/LI costs around $350, but that includes the really high and the zombie houses.  A fancy home, easy $450k.  A fancy home with a good school district?  $650k+.  Not crazy high prices, but def something someone with a single income and a lot of student loan debt couldn't afford.

Prices in Indy are way more affordable, though they are starting to rise, but I'd rather rent and invest/save the money I'd be spending on home ownership.  Basic mortgage here is around I think $1500?  I'm paying $1100 in a really nice area of Indy (walking distance to downtown, in an established/nice area with families that is safe), so I'm banking that other money into my 401k or other investment accounts.

 

[Will.I.Am PE]

Thoughts on why I switched from renting to owning:.

• A down payment is not required.
  
• Owning is cheaper than renting.
  

I'm currently renting for a little under $1000/month.

For any house that's not a $#!+hole, with no (or minimal) down payment, including homeowners insurance, mortgage insurance, and *PROPERTY TAXES*, the best I could do would probably be around $1300/month.

I put such emphasis on property taxes because they're that high where I live. 

 

[JayKay PE]

I'm currently renting for a little under $1000/month.

For any house that's not a $#!+hole, with no (or minimal) down payment, including homeowners insurance, mortgage insurance, and *PROPERTY TAXES*, the best I could do would probably be around $1300/month.

I put such emphasis on property taxes because they're that high where I live. 

Property taxes are a *****.  My parents hate the new SALT thing that came out that limits the over $10k write-off.  Sucks when you have property taxes of $17k for one house, and then another $4k for the other house, and you have no more deductibles.

 

[Orchid PE]

Yeah, I didn't realize how much property taxes in FL sucked until I moved.

 

[LyceeFruit PE]

I'm currently renting for a little under $1000/month.

For any house that's not a $#!+hole, with no (or minimal) down payment, including homeowners insurance, mortgage insurance, and *PROPERTY TAXES*, the best I could do would probably be around $1300/month.

I put such emphasis on property taxes because they're that high where I live. 

What are property taxes where you live?

When my family sold my childhood home in 2004, the property taxes for the beach front house in the seacoast of NH was near 13k a year. 

 

[Orchid PE]

I could never live in a big city. The metro population of my city is like 550k. The average home cost is around $150k, and the median household income is around $40k. Yet, it's a very nice and thriving city. It makes it nice being an engineer when the cost of living is low.

Quick info: Single-income family here, married, 1 kid, 1 on the way, 3 dogs.

 

[LyceeFruit PE]

I couldn't live in a city due to lack of space. I grew up with a very small yard and no privacy from the neighbors. I want land. And trees 

 

[Will.I.Am PE]

What are property taxes where you live?

When my family sold my childhood home in 2003, the property taxes for the beach front house in the seacoast of NH was near 13k a year. 

They're not super crazy, but for the houses I was looking at, they added about $300 a month that I couldn't afford... At least not without the down payment to get traditional mortgage... Which I also can't afford.

Basically, we is p'oh.  :bawling:

 

[Orchid PE]

How I feel: https://bit.ly/34XdQZL

 

[MadamPirate PE]

If we're considering any "older millennial" as someone under 30, then I'm gonna be sad. 

Nah, I'm officially mid-30s

 

[ChebyshevII PE PMP]

They're not super crazy, but for the houses I was looking at, they added about $300 a month that I couldn't afford... At least not without the down payment to get traditional mortgage... Which I also can't afford.

Basically, we is p'oh.  :bawling:

Sorry I just got informed that our property taxes are increasing by about $1000 annually. Dumbs...

 

[Booo]

Sorry I just got informed that our property taxes are increasing by about $1000 annually. Dumbs...

That's part of the experience. do y'all have a trend of hiring some lawyer and then they reduce it. Its common in chicagoland. Seems like a scam between the assessor and the lawyers.

 

[Orchid PE]

My property taxes are only $1,300 this year.

 

[ChebyshevII PE PMP]

That's part of the experience. do y'all have a trend of hiring some lawyer and then they reduce it. Its common in chicagoland. Seems like a scam between the assessor and the lawyers.

In my case it looks like an oversight on the auditor's part. When we bought the house it was registered as not having a finished basement (even though it is finished). I guess they figured out their mistake.

 

[JayKay PE]

I could never live in a big city. The metro population of my city is like 550k. The average home cost is around $150k, and the median household income is around $40k. Yet, it's a very nice and thriving city. It makes it nice being an engineer when the cost of living is low.

Quick info: Single-income family here, married, 1 kid, 1 on the way, 3 dogs.

Yeah, I don't know if I could do that.  I like being in a semi-metro area where I can find different food/places/people and be close to an airport and other stuff.  I think the median income in Indy is low(ish)?  But it's rising because of the hospitals/nearby college and a bunch of 'luxury' apartments going up.  Which I would never rent, since I worked in development and know that something that goes up that fast doesn't have good insulation.  I think Indy is going to blow up in the next 5-years due to the lower COL and some other stuff getting revitalized/gentrified.

I think once I get a loan or two paid off, I'll be sitting pretty.  But until then, it's a JK grind until I'm able.

 

[Booo]

I could never live in a big city. The metro population of my city is like 550k. The average home cost is around $150k, and the median household income is around $40k. Yet, it's a very nice and thriving city. It makes it nice being an engineer when the cost of living is low.

Quick info: Single-income family here, married, 1 kid, 1 on the way, 3 dogs.

I like big cities. There are few where the property prices are not too crazy and you can live comfortably while having ample job opportunities. Chicago and Houston are good examples.

 

[Will.I.Am PE]

What are property taxes where you live?

When my family sold my childhood home in 2004, the property taxes for the beach front house in the seacoast of NH was near 13k a year. 

I looked it up (because I'm an engineer, duh) and it looks like the average property tax collected in Rockingham county, NH last year was about 1.74% of the assessed value.

In Franklin County, OH, it varies (a lot) based on what school district you're in, but it's typically between about 1.7 and 2.2%.

:dunno:

 

[Will.I.Am PE]

That's part of the experience. do y'all have a trend of hiring some lawyer and then they reduce it. Its common in chicagoland. Seems like a scam between the assessor and the lawyers.

This is possibly the most Chicago thing, ever.