Post by: Alchemisst on March 01, 2019, 09:13:20 PM
Post by: big_slacker on March 01, 2019, 09:32:04 PM
Since for most people it is the biggest cost of living expense I am curious to know what housing costs are for others and or creative ways you have lowered this etc?
Well, what is it for you? :D
Post by: Alchemisst on March 01, 2019, 09:40:35 PM
Post by: Zikoris on March 01, 2019, 09:57:20 PM
So I would say that for us, what keeps our costs down is 1. Keeping things teeny tiny (400 square feet max), and 2. Doing REALLY nontraditional things.
Post by: socalteacher on March 01, 2019, 10:52:39 PM
Post by: Bloop Bloop on March 01, 2019, 10:58:21 PM
Post by: pudding on March 01, 2019, 11:17:49 PM
it's zero. I bought a house 11 years back that has 8 bedrooms, 3 bathrooms and 2 and a bit kitchens.
I live on the middle floor in 2 bedroom 1000 square feet, and 3 language students live upstairs, and 3 live in the basement.
The rents I get off them more than pay for the mortgage and other expenses. There's even some left over.
Post by: SpareChange on March 02, 2019, 12:14:30 AM
Post by: Alchemisst on March 02, 2019, 01:02:48 AM
This is one area I can't complain ;)
it's zero. I bought a house 11 years back that has 8 bedrooms, 3 bathrooms and 2 and a bit kitchens.
I live on the middle floor in 2 bedroom 1000 square feet, and 3 language students live upstairs, and 3 live in the basement.
The rents I get off them more than pay for the mortgage and other expenses. There's even some left over.
Sounds like a great setup, must have cost a lot though for a house that big!
Post by: CoffeeAndDonuts on March 02, 2019, 02:31:10 AM
Anyway, we bought a $435k home and plan approx $135k in additions this fall. Approx 1700 sq ft after. Around $300/sqft value.
The 100yo home has been successively upgraded. 4br, 3 ba, new electric, solar, garage, roof, refinished wood trim, kitchen, porch, efficient heating/cooling, etc.
We could pay it off but choose to carry about $340k in 28y of mortgage payments at 3.625% so we can stay in market.
Payments including tax and insurance are about $2150/mo. Of that, $600/mo is prop taxes and insurance. Water, sewer, garbage, gas are about another $130. Electric via solar will generate a net profit of about $60/mo despite powering our car.
Since we could pay it off, I prefer to think of it in terms of opportunity cost were it paid off. A $550k asset would generate $1833/mo under the 4% rule. Add property taxes and insurance and were at $2433/mo carrying cost before utilities.
It's a luxury for our family of 3. Indirectly it helps us live a 1 car lifestyle at 9000 miles/yr and keeps nearly all friends and family within 30 minutes on a bike in an urban area that is near ideal for us - within 3/4 mile are pool, beach, bike trail, park, grocery, school, restaurants, old high school friend with similar age kid, etc.
We plan to stay 20+ yrs including early retirement.
We cut some costs by:
* Selecting a home that prior owners kept upgrading and growing out of. We feel they repeatedly overinvested in quality while not addressing most important issues to future buyers and we got a bargain.
* Selecting a home where we recognized the issues likely better than prior owners and we're both willing to live w them and able to address them.
* Having a practical architect as a spouse is now enabling us to make improvements more cost effectively and we'll do lots of finishing work ourselves.
* Solar here is heavily subsidized at the moment. It's cash flow positive. One aspect is it doesn't trigger addt property taxes as an improvement.
* In future years, we could do short term rental while we travel during summer. In theory, our basement is a near self contained finished unit. I don't think it's likely we rent it out but it's possible.
Hardly house hacking though! It's the biggest impediment in being totally confident in declaring us fi.
It's also a thoroughly discussed and deliberate expression of our priorities and values.
Post by: Freedomin5 on March 02, 2019, 03:30:52 AM
Housing-related costs (electricity, gas, water) is approx. $40 to 50 per month.
Our work contracts give us free housing in a very HCOL city. Without that perk, we would be paying anywhere between $1200/month for crap housing to $5000/month for a 3-bedroom apartment.
Post by: beer-man on March 02, 2019, 05:15:00 AM
$700 mortgage
$250 insurance
$250 taxes
$1000yr HOA fees for gates and community pool/workout room
Water/sewer is $70 month, down from $140-$200 month after installing an irrigation well 4yrs ago
electric is $100-$150 month and most of that is probably Florida AC/cooling costs
Sent from my iPhone using Tapatalk
Post by: gaja on March 02, 2019, 05:43:58 AM
-$2 100 mortgage interest (1.99% interest, flexible payment plan)
-$365 property tax
-$398 waste and water
-$858 insurance (includes bikes, furniture, etc)
-$2 400 heat and electricity
On the other hand, we have some quite steep single expenses this year:
-$9 500 buy out the land lease
-$2 500 improvements to the basement and paperwork to get the basement bedrooms up to code and approved by the city
-$35 000 to replace siding, rotten windows, and install insulation (yes, there is currently 0 insulation in the walls. Yes, that gets rather cold here in Norway).
In addition, the bathrooms and kitchen in this house would probably be on most people's "need upgrade" list. For us, they are defined as wants.
Post by: Parizade on March 02, 2019, 05:48:38 AM
Mortgage $183
HOA $100
Utilities $147 (Electric, gas, sanitation, mobile phone, fiber internet and landline)
Property tax $80 (projected, I pay it twice a year but it works out to $80/mo)
Insurance $50 (projected)
Total $560
I work from home so no commute. I can walk to a grocery store, hardware store, post office, library, florist, or pub in minutes and during the week there is bus service to the nearest large city so I don't really need a car but I have one anyway (paid for). Wonderful neighbors, close knit community.
Post by: YttriumNitrate on March 02, 2019, 06:07:44 AM
Since for most people it is the biggest cost of living expense I am curious to know what housing costs are for others and or creative ways you have lowered this etc?The number one thing I have done to lower my housing costs is to live in a low property tax state while working in a high property tax state. If my house were to be moved across the border, I'd have to pay about an extra $1000 a month in property taxes (and current PITI is only $1400).
Post by: big_slacker on March 02, 2019, 06:35:51 AM
On the plus side financially the entire reason we're in this HCOL area is my high paying tech job. So the retirement pot gets bigger really fast and once the kids are launched we're out! :D
Post by: bryan995 on March 02, 2019, 06:44:08 AM
2650/mo rent
30/mo insurance
220/mo electric+gas
45/mo water+trash
Good location for commuting to work.
Post by: 2Birds1Stone on March 02, 2019, 07:12:26 AM
It's in a basement (with decent light from 1/2 windows) and includes a loooong hallway and separate storage room for bikes/luggage/etc.
It includes water/heat/electric/WiFi/lawn-care
We have access to a very large yard, which no one else in the rental house uses.
Landlord is cool and only bumped our rent to $1,100 from $1,080 after 4 years of living here.
We consider ourselves lucky as hell.
Post by: Metalcat on March 02, 2019, 07:20:56 AM
Extremely well located for us, walking distance from the downtown core/DH's work, all of the amenities we could ever want (gym, pool, carwash station, heated indoor parking, library, etc), but a very old building in a low income neighborhood, so people avoid it, even though it's a stunningly beautiful urban area with tons of public waterfront and old trees everywhere.
12 blocks away and a new apartment of the same size costs nearly 700K, ours is 140K. No lie, it's ugly as sin, but nothing a few thousand dollars and a long weekend of work couldn't fix.
Post by: Greystache on March 02, 2019, 08:03:04 AM
Post by: HPstache on March 02, 2019, 08:46:39 AM
Post Marriage / Kids: 3/2 House $1,575 mortgage. Miss the days of cheap living! Still own the duplex and rent out both sides now. Could be a safety net as well if we ever had a big life drama.
Post by: Tuskalusa on March 02, 2019, 08:54:07 AM
Post by: davisgang90 on March 02, 2019, 09:07:43 AM
Not very mustachian but a bargain for the price.
Post by: CheapScholar on March 02, 2019, 09:24:38 AM
We have a 30 year mortgage, although we’ve paid quite a bit against it.
Monthly cost: $885 (mortgage/taxes/insurance)
Glad I left Illinois!
Post by: Omy on March 02, 2019, 09:30:52 AM
Post by: wenchsenior on March 02, 2019, 09:39:58 AM
So, for TWO houses in a medium sized, LCOL city:
Mortgage: ~680
Prop taxes: ~350
Insurance: ~175
Elect/Water/Gas: ~365 (~150 recently taken over by relative in second house)
Estimate sinking fund for repairs/ maintenance: ~200
So, ~$1770.00/month total costs for two houses.
One is a standard 1,600-sq. ft 3/2/2 ranch in a nice 'starter' neighborhood, the other is a 1,100-sq. ft WW2-era 2/1/1 in a mixed rental/starter house neighborhood.
If you subtract the 150$/month, then our costs are ~$1,620/month
ETA: We've cut costs over the years by not upgrading our housing. We bought the 3/2/2 in 2001 and are still in it. We bought the 2/1/1 in 2007/08 and have fully paid all the housing related costs to support my mom there, though she just this past year took over paying her own Elec/Water/Gas, so I guess you could now subtract about $150/month from our costs.
Post by: Teachstache on March 02, 2019, 10:54:20 AM
Our property taxes are quite high, at nearly 2.05% & we have high homeowners insurance rates, too. All told, property taxes & insurance run us $393/month.
With that being said, we love our home & our location. Our neighborhood is changing in terms of population demographics. We're within 2 miles of work, 1 mile from the grocery store and approximately 1 mile away from my parents/our son's grandparents.
Post by: YttriumNitrate on March 02, 2019, 10:58:37 AM
Small city in Indiana. I have what would be considered a nice but not luxury home. Purchased for 161k in 2013 and is now worth 221k.It's really saying something that there are less than 30 replies in this thread and we already have two "stay of out Illinois" responses as ways to reduce housing costs.
We have a 30 year mortgage, although we’ve paid quite a bit against it.
Monthly cost: $885 (mortgage/taxes/insurance)
Glad I left Illinois!
Post by: Cranky on March 02, 2019, 11:16:02 AM
Post by: Just Joe on March 02, 2019, 11:17:47 AM
Drive to work is ~15 minutes.
Might scope out more acreage soon. Don't really need bigger house but more outside space would be nice i.e. not a neighborhood.
Post by: Poeirenta on March 02, 2019, 11:21:50 AM
Taxes and insurance: $3k/yr
Cell phones w/big data plan (for mobile hotspot): $960
Utilities (propane only):$1000/yr
Home maintenance and decor: $1600/yr
We built a home with proceeds from our city house sale ($150K). House is 950 sq. feet on 85 acres. We have some outbuildings too; those costs show up in our maintenance category.
Post by: beer-man on March 02, 2019, 11:22:41 AM
The key is to collect an Illinois pension but not have to live there and pay the taxesSmall city in Indiana. I have what would be considered a nice but not luxury home. Purchased for 161k in 2013 and is now worth 221k.It's really saying something that there are less than 30 replies in this thread and we already have two "stay of out Illinois" responses as ways to reduce housing costs.
We have a 30 year mortgage, although we’ve paid quite a bit against it.
Monthly cost: $885 (mortgage/taxes/insurance)
Glad I left Illinois!
Sent from my iPhone using Tapatalk
Post by: BicycleB on March 02, 2019, 11:29:02 AM
Net cost about $500/mo for bedroom in shared house that I own in popular MCOL city (most expensive city in our state, median home price just over $300k). As best I can tell, my cost to own the property and rent out spare bedrooms is about the same as if I just rented a room from a similar landlord. In the past I made good profits being the owner-landlord after buying in a cheaper era; now sitting on lots of equity. Since I don't feel like moving, breakeven is good enough to stay.
Annual total costs, very roughly:
8k mortgage
10k taxes, insurance, maintenance, utilities
___
18k
3k less mortgage paydown
___
15k net cash outlay per year on average
Rent is about 15k from roomies, so you could say cost is zero. But that ignores the cost of capital:
-9,600 (240k equity x 4% assumed return on alternative investment)
2,100 (105k mortgage x 2% inflation; reduces buying power required to pay off mortgage)
_____
7,500
Arguably I'm paying $625/month and losing money compared to rent, in return for any appreciation above inflation. OTOH, if I sold, I'd suffer from selling costs, which now include some capital gains tax (yes, really). I think the selling costs would reduce my return to roughly equal where I'm at by staying. And I kind of feel there's still some appreciation to be had, so I feel safer staying unless there's a specific reason to move on.
Post by: Much Fishing to Do on March 02, 2019, 11:51:01 AM
Looks like what remains now is about $10k/year
Taxes - $3k
Utilities - $6k (electric in the winter is the killer, heat with electric and up north)
Repairs - $1k
Insurance - $700
Post by: MonkeyJenga on March 02, 2019, 11:56:48 AM
In DC, it ranged from nothing (cat-sitting, house-sitting, and couchsurfing) to $1,700 at the max. My only actual lease was $950 all-in.
In NYC, it ranged from $500 to $1450, all-in. The cheapest rent there lasted for a year, and I was renting a semi-private railroad-style room from friends.
After NYC and before DC, I spent nothing on rent for 5 or 6 months. Some was campaign housing, where I would camp out for a week or two while volunteering, some family, some friends, some internet strangers who became friends. Only cost of living was bus tickets, groceries, and cell phone.
Post by: JLee on March 02, 2019, 12:02:24 PM
Post by: HBFIRE on March 02, 2019, 12:15:39 PM
Post by: kaizen soze on March 02, 2019, 12:46:26 PM
This is one area I can't complain ;)
it's zero. I bought a house 11 years back that has 8 bedrooms, 3 bathrooms and 2 and a bit kitchens.
I live on the middle floor in 2 bedroom 1000 square feet, and 3 language students live upstairs, and 3 live in the basement.
The rents I get off them more than pay for the mortgage and other expenses. There's even some left over.
It's not really zero, it's costing you whatever you could get by renting out the 1000 square feet. :). But seriously it sounds like a good setup.
Post by: Archipelago on March 02, 2019, 01:06:20 PM
Mortgage PITI is $2650/month.
All other expenses, vacancies, utilities, repairs, & capital expenditures are $800/month.
Rental income is $4000/month which nets $500/month.
Living in a 4-unit apartment building, renting out 3 units, living in 1 unit and having a roommate as well in my unit.
Post by: JLee on March 02, 2019, 01:08:55 PM
MCOL area.
Mortgage PITI is $2650/month.
All other expenses, vacancies, utilities, repairs, & capital expenditures are $800/month.
Rental income is $4000/month which nets $500/month.
Living in a 4-unit apartment building, renting out 3 units, living in 1 unit and having a roommate as well in my unit.
Do you have any regrets about this arrangement? I have considered doing something like that, as it's really the only way I could justify buying something in my area. I always end up deciding renting wins out for me.
Post by: Joeko on March 02, 2019, 02:28:20 PM
1,500 - 1 bdrm apt
50- utilities
Free gym in complex
Post by: bacchi on March 02, 2019, 02:32:59 PM
$100 PITI after (tenant rent - maintenance) for a duplex
$35 electricity
$20 water
$20 gas
= $175/month
Post by: use2betrix on March 02, 2019, 02:34:54 PM
Next week we’re moving into a 2 bed 2 bath with attached 1 car garage, will have all the same amenities as current apartment. Is nice with stainless appliances, washer dryer, etc. It will be $1550/mo plus expenses.
My employer pays me a per diem of approximately $4200 tax free which is meant to cover living expenses.. Basically it covers my rent and then I have around $2500 left over. I haven’t worked I job that I didn’t get paid per diem in over 7 years.
Post by: Abe on March 02, 2019, 02:43:40 PM
Post by: friedmmj on March 02, 2019, 03:01:22 PM
Post by: JLee on March 02, 2019, 03:03:21 PM
We currently live in a 1 bed 1 bath with detached 1 car garage.. Has a pool, gym with treadmills, dog park, etc. We pay about $1350/mo plus expenses.
Next week we’re moving into a 2 bed 2 bath with attached 1 car garage, will have all the same amenities as current apartment. Is nice with stainless appliances, washer dryer, etc. It will be $1550/mo plus expenses.
My employer pays me a per diem of approximately $4200 tax free which is meant to cover living expenses.. Basically it covers my rent and then I have around $2500 left over. I haven’t worked I job that I didn’t get paid per diem in over 7 years.
Holy crap, that's awesome.
Post by: use2betrix on March 02, 2019, 03:23:07 PM
We currently live in a 1 bed 1 bath with detached 1 car garage.. Has a pool, gym with treadmills, dog park, etc. We pay about $1350/mo plus expenses.
Next week we’re moving into a 2 bed 2 bath with attached 1 car garage, will have all the same amenities as current apartment. Is nice with stainless appliances, washer dryer, etc. It will be $1550/mo plus expenses.
My employer pays me a per diem of approximately $4200 tax free which is meant to cover living expenses.. Basically it covers my rent and then I have around $2500 left over. I haven’t worked I job that I didn’t get paid per diem in over 7 years.
Holy crap, that's awesome.
Yes it is, indeed it comes with downsides. It’s because I’m a “contract” worker. I travel all over the country and work construction jobs that usually last 6 months to a couple years. We have lived in around 8 states and well over a dozen cities, and probably moved 15+ times, over the last 8 years. Nature of the beast, they typically compensate me well. The good thing is that between contract positions it sets me up perfectly for long sabbaticals.
Post by: Dicey on March 03, 2019, 11:51:01 AM
Now that we are FI & FIRE, we are living in a total clown house, because DH's mom has ALZ and lives with us. We each sold our modest two-story-no-downstairs-bedroom houses and found this the best fit for our current needs. We paid cash, about $930k and it's now worth about $1.4M. Our property taxes are nearly $12k per year (at least a third more than the other two houses combined) and the utilities are about $300-$350/month, because we keep the heat at 67 day and night. Otherwise, his mom turns up in a zipped up overcoat with a hat on. Well, she still does that anyway sometimes, but at least we know she's not in any danger of actually freezing.
I'll post more about our costs and my frugal hacks from my single days, as time allows.
And, because it's fun to do, I'll ping @bluecollarmusician, because he has some great housing hack stories.
Post by: Tempname23 on March 03, 2019, 12:25:48 PM
Water, sewer and garbage is added because we don't have a choice, must pay it if in the city.
That totals $275 per month.
Post by: Sailor Sam on March 03, 2019, 12:31:19 PM
Post by: Archipelago on March 03, 2019, 02:28:59 PM
MCOL area.
Mortgage PITI is $2650/month.
All other expenses, vacancies, utilities, repairs, & capital expenditures are $800/month.
Rental income is $4000/month which nets $500/month.
Living in a 4-unit apartment building, renting out 3 units, living in 1 unit and having a roommate as well in my unit.
Do you have any regrets about this arrangement? I have considered doing something like that, as it's really the only way I could justify buying something in my area. I always end up deciding renting wins out for me.
Regrets? No way! Getting paid to live somewhere is almost too good to be true. Once I move out, I will rent the 4th unit and net $1200/month. After PMI is gone it'll go up to $1450/month. Once the mortgage is gone way down the road, it'll be clearing $3k/month. All of this was done with a 3.5% down payment with a total of $30k invested. It's absurd.
Post by: JanetJackson on March 03, 2019, 02:49:10 PM
Haven't gotten my utility bills yet, but I'm estimating $150/mo including internet (need in order to keep my work-from-home option).
Post by: Fomerly known as something on March 03, 2019, 06:56:48 PM
Post by: BicycleB on March 03, 2019, 07:05:57 PM
MCOL area.
Mortgage PITI is $2650/month.
All other expenses, vacancies, utilities, repairs, & capital expenditures are $800/month.
Rental income is $4000/month which nets $500/month.
Living in a 4-unit apartment building, renting out 3 units, living in 1 unit and having a roommate as well in my unit.
Do you have any regrets about this arrangement? I have considered doing something like that, as it's really the only way I could justify buying something in my area. I always end up deciding renting wins out for me.
Regrets? No way! Getting paid to live somewhere is almost too good to be true. Once I move out, I will rent the 4th unit and net $1200/month. After PMI is gone it'll go up to $1450/month. Once the mortgage is gone way down the road, it'll be clearing $3k/month. All of this was done with a 3.5% down payment with a total of $30k invested. It's absurd.
@Archipelago, sounds like a great deal! Are those nets after allowances for repairs and vacancy? Did you have to find a special situation to swing this on 30k down?
Post by: Archipelago on March 03, 2019, 07:15:53 PM
MCOL area.
Mortgage PITI is $2650/month.
All other expenses, vacancies, utilities, repairs, & capital expenditures are $800/month.
Rental income is $4000/month which nets $500/month.
Living in a 4-unit apartment building, renting out 3 units, living in 1 unit and having a roommate as well in my unit.
Do you have any regrets about this arrangement? I have considered doing something like that, as it's really the only way I could justify buying something in my area. I always end up deciding renting wins out for me.
Regrets? No way! Getting paid to live somewhere is almost too good to be true. Once I move out, I will rent the 4th unit and net $1200/month. After PMI is gone it'll go up to $1450/month. Once the mortgage is gone way down the road, it'll be clearing $3k/month. All of this was done with a 3.5% down payment with a total of $30k invested. It's absurd.
@Archipelago, sounds like a great deal! Are those nets after allowances for repairs and vacancy? Did you have to find a special situation to swing this on 30k down?
Yes, that includes $370/month for repairs and Capital Expenditures, plus 1 unit vacant for 1 month out of the year (which has been the case for the past 2 years).
Not too special of a case, just an FHA mortgage with 3.5% down.
Post by: expatartist on March 03, 2019, 09:52:37 PM
Rent: US$850
Remaining housing allowance added to my salary as paid in cash. Most of my colleagues' rent exceeds US$2k.
How I keep it cheap: creative living in 150 square feet. But small doesn't have to feel cramped, if light and space work well. It's illegally subdivided from the 450square foot original. Mine is the largest; 3 neighboring flats are 1-2 people in 100sqf.
Buying vs renting at the moment is much more expensive. It makes sense to rent here unless you're going to stay at least 20 years. And even then, for many it's impossible to buy. I will buy a ~350sqf one bedroom (ideally with same size rooftop) on an outlying island once a permanent resident in ~5 years. Buying as a non-PR is an extra 30% stamp taxes in a useless measure to stop housing price rises.
Post by: Linea_Norway on March 04, 2019, 02:04:47 AM
Housing costs in 2018 were at 5.300 euro for the year. This includes membership fee for 2 private roads and some small maintenance. We have no mortgage on the home, so it's only electricity, water, sewage, garbage, insurance. It also includes internet and TV and even my cell phone.
Of course our biggest cost is the hidden cost of not having that money in the stock market. We plan to downsize at FIRE and put 400K euros from the sales into the stock market (or stocks/bonds).
Post by: Hirondelle on March 04, 2019, 02:14:32 AM
Post by: mm1970 on March 04, 2019, 10:57:36 AM
Mortgage, prop taxes, insurance, $3950/month
Post by: Duke03 on March 04, 2019, 12:19:51 PM
Post by: Slow2FIRE on March 04, 2019, 12:23:46 PM
$1960 / month on a 15yr fixed rate loan. $230 goes towards property taxes.
Utilities
$200 is the highest we pay in one month for utilities (electricity, natural gas, water, sewer, trash). $90 is about the least we end up paying for utilities in one month.
PITI is about 10% of our gross income from primary W-2 jobs.
Post by: jane_escaped on March 04, 2019, 12:55:38 PM
usually $150-250/utilities (varies, I use A/C in the summer and both gas and electric heat in the winter, so depending on the temps, there's quite a range; probably averages around $200/mo, or a little less)
~$20/month renter's insurance
total = around $1,335 per month ($308/week)
Rent top floor of 3-floor brick bldg (built in 1912) in Boston, Mass, USA. It's roughly 600 sf (~56 m2). Unit had the bathroom partially renovated before I moved in. Kitchen and rest of the unit has not been renovated in a really long time (decades?). There was a new fridge when I moved in. I moved here in 2012, so had the benefit of my neighborhood not being gentrified yet, and, knock on wood, my rent hasn't gone up much (it was originally $925/month), though I don't know how long that will actually last. The new units on my block are quickly selling out at $2,600-2,800/unit.
Boston has the 3rd highest housing costs in the country (after SF and NYC) and my rent is substantially below market value. I was able to pay off all of my debt, and have been trying to save like crazy while I still have a relatively high income and relatively low rent.
Post by: OurTown on March 04, 2019, 01:00:26 PM
Post by: TheContinentalOp on March 04, 2019, 02:27:11 PM
Post by: jps on March 04, 2019, 03:00:31 PM
3 bd/3 br rancher with a basement on 1/3 acre.
WA State, but not Seattle.
Post by: Padonak on March 04, 2019, 05:06:07 PM
We're paying $826 for our studio apartment right now. We live in a non-profit housing co-operative completely managed fully by the residents, so in addition to paying rent, we also volunteer as needed for various projects and committees. Prior to this we rented a studio apartment in a house that had been renovated into individual suites (I think there were five units total), and that place was $645 when we left. Before that, I rented a basement suite for $600. We're considering eventually moving to an island, buying a cheap plot of land, and throwing up a cabin or tiny home to live in, and the cost seems to be roughly the equivalent to our current renting setup.@Zikoris
So I would say that for us, what keeps our costs down is 1. Keeping things teeny tiny (400 square feet max), and 2. Doing REALLY nontraditional things.
Which island if you don't mind me asking?
Post by: Zikoris on March 04, 2019, 07:16:55 PM
We're paying $826 for our studio apartment right now. We live in a non-profit housing co-operative completely managed fully by the residents, so in addition to paying rent, we also volunteer as needed for various projects and committees. Prior to this we rented a studio apartment in a house that had been renovated into individual suites (I think there were five units total), and that place was $645 when we left. Before that, I rented a basement suite for $600. We're considering eventually moving to an island, buying a cheap plot of land, and throwing up a cabin or tiny home to live in, and the cost seems to be roughly the equivalent to our current renting setup.@Zikoris
So I would say that for us, what keeps our costs down is 1. Keeping things teeny tiny (400 square feet max), and 2. Doing REALLY nontraditional things.
Which island if you don't mind me asking?
We're not sure yet - our goal for 2019 is to visit a bunch of prospective islands and see if any of them really call out to us. So far we've visited and rejected two, one for being too undeveloped, one for being too expensive (but super nice - if the prices drops, it would be our top choice). We're visiting two of the more remote ones with my dad in April, and another three at least over the summer. They're all Canadian islands within a day-ish travel time from Vancouver.
Post by: PDXTabs on March 04, 2019, 07:37:57 PM
Post by: Linea_Norway on March 05, 2019, 12:57:26 AM
We're paying $826 for our studio apartment right now. We live in a non-profit housing co-operative completely managed fully by the residents, so in addition to paying rent, we also volunteer as needed for various projects and committees. Prior to this we rented a studio apartment in a house that had been renovated into individual suites (I think there were five units total), and that place was $645 when we left. Before that, I rented a basement suite for $600. We're considering eventually moving to an island, buying a cheap plot of land, and throwing up a cabin or tiny home to live in, and the cost seems to be roughly the equivalent to our current renting setup.@Zikoris
So I would say that for us, what keeps our costs down is 1. Keeping things teeny tiny (400 square feet max), and 2. Doing REALLY nontraditional things.
Which island if you don't mind me asking?
We're not sure yet - our goal for 2019 is to visit a bunch of prospective islands and see if any of them really call out to us. So far we've visited and rejected two, one for being too undeveloped, one for being too expensive (but super nice - if the prices drops, it would be our top choice). We're visiting two of the more remote ones with my dad in April, and another three at least over the summer. They're all Canadian islands within a day-ish travel time from Vancouver.
If you gain such a plot and gain access to water/sewage in the vicinity, you can also consider to pop a used caravan on it. Then you have your tiny home that you can start using right away. Then you can always at some point build something bigger or more stable at a later time.
Sewage can also be solved by building an old fashioned dry toilet, like we have at our cabin. I think a used caravan should be quite cheap. A barrack could also be an option, but needs more furniture.
Post by: soccerluvof4 on March 05, 2019, 03:20:22 AM
We budget as follows per Month on paid for house:
Utilities- Gas & Electric $300 a month
Water- 100 a month
Maintenance- $500 a month
Property Tax- $175 a Month
Not sure the split exactly at this moment but for both Auto and House Insurance (4 Cars) 500 a month
We end of with a bit of a surplus end of each year.
Post by: Jesse@Papermonger on March 05, 2019, 07:36:25 AM
Post by: Dicey on March 05, 2019, 08:50:19 AM
This is kind of depressing.Not necessarily. Depends on where you live and what you earn. I love it when people in flyover states tell others just to buy a cheaper house. Where I live you can't buy a garage for what their entire huge houses cost. And basements for storage? Practically non-existent. On the flip side, the upside appreciation can be great in a HCOLA. My house cost(s) a fortune to buy and operate, but it's gone up in value $500k in six years, which doesn't suck.
Mortgage, prop taxes, insurance, $3950/month
Post by: pudding on March 05, 2019, 09:27:27 AM
This is one area I can't complain ;)
it's zero. I bought a house 11 years back that has 8 bedrooms, 3 bathrooms and 2 and a bit kitchens.
I live on the middle floor in 2 bedroom 1000 square feet, and 3 language students live upstairs, and 3 live in the basement.
The rents I get off them more than pay for the mortgage and other expenses. There's even some left over.
Sounds like a great setup, must have cost a lot though for a house that big!
It did cost a lot, and when I bought it I did it somewhat naively and really didn't know what I was getting into.
The first 2 years were a gigantic pain in the neck as I realized the situation I was in.
But then the banks crashed and interest rates dropped and that made it a lot better. But it was still a drag, I'd say out of the 11 years I've owned it, first 2 were 'never again' next 5 were 'this f'ing house' next 2 were 'holy smokes' as house value went up 300k in a year. Then last 2 or 3 quite stable and just a homeowner doing OK.
Also rents here in Vancouver have become insanely high which has also worked in my favour.
The the price of real estate here went through the roof and in the current market could sell for around 800 thousand more than I bought it for. There's also quite a good possibility that the area will be rezoned, if it happens I could be looking at an extra million bucks!
Post by: Zikoris on March 05, 2019, 10:56:41 AM
We're paying $826 for our studio apartment right now. We live in a non-profit housing co-operative completely managed fully by the residents, so in addition to paying rent, we also volunteer as needed for various projects and committees. Prior to this we rented a studio apartment in a house that had been renovated into individual suites (I think there were five units total), and that place was $645 when we left. Before that, I rented a basement suite for $600. We're considering eventually moving to an island, buying a cheap plot of land, and throwing up a cabin or tiny home to live in, and the cost seems to be roughly the equivalent to our current renting setup.@Zikoris
So I would say that for us, what keeps our costs down is 1. Keeping things teeny tiny (400 square feet max), and 2. Doing REALLY nontraditional things.
Which island if you don't mind me asking?
We're not sure yet - our goal for 2019 is to visit a bunch of prospective islands and see if any of them really call out to us. So far we've visited and rejected two, one for being too undeveloped, one for being too expensive (but super nice - if the prices drops, it would be our top choice). We're visiting two of the more remote ones with my dad in April, and another three at least over the summer. They're all Canadian islands within a day-ish travel time from Vancouver.
If you gain such a plot and gain access to water/sewage in the vicinity, you can also consider to pop a used caravan on it. Then you have your tiny home that you can start using right away. Then you can always at some point build something bigger or more stable at a later time.
Sewage can also be solved by building an old fashioned dry toilet, like we have at our cabin. I think a used caravan should be quite cheap. A barrack could also be an option, but needs more furniture.
We're thinking of getting some form of pre-fab cabin, like these: https://www.knottypinecabins.ca/12-wide-cabins/ (https://www.knottypinecabins.ca/12-wide-cabins/) They ship it to you on a pallet and you just need to assemble it. I think that may be a summer project for me and my dad one day - we've been talking a lot about the various options for logistical stuff. Obviously it would depend entirely on the plot of land in question, but I think it would be really cool to set things up with a mini hydroelectric system (or solar/wind), composting toilet, root cellar/cave for food storage, and a nice wood cooking stove like this https://www.woodcookstoves.ca/wood-burning-cooking-stove-canada.html (https://www.woodcookstoves.ca/wood-burning-cooking-stove-canada.html) that I can bake bread in. That would be for the most extreme scenario, where we were totally off grid, so if we were part-grid, or even full-grid, various things would be swapped out, like normal plumbing or not generating electricity.
Post by: hadabeardonce on March 05, 2019, 11:30:09 AM
$492.01 Interest*
$296.85 Escrow
$511.00 HOA
$ 24.00 Utilities
$1712.91 /mo.
650 sqft. 1bd/1ba in CA Bay Area.
*I get 15% of what I pay in mortgage interest back as a tax credit through a county MCC program.
Post by: honeybbq on March 05, 2019, 11:31:58 AM
mortgage: $3500/mo + $1000/mo property tax.
HCOLA. Fairly large house.
Post by: mizzourah2006 on March 05, 2019, 12:40:57 PM
Edited to add some additional details:
Home SQ FT: 2.2k, 4 bedroom, 2.5 bath with an office. On .33 acres.
Post by: brandon1827 on March 05, 2019, 12:57:10 PM
Post by: Livingthedream55 on March 05, 2019, 01:19:56 PM
Repairs/maintenance probably another $100 -$200 a month on average
Post by: Villanelle on March 05, 2019, 01:22:01 PM
Post by: NotJen on March 05, 2019, 01:27:06 PM
$176/mo (PITI, but no PI because it’s paid off)
or
$343/mo when I include utilities (water, electric, sewer, trash)
LCOL? 2200 sqft home, ~$160k value? Maybe? Guess I’ll find out when I sell.
Post by: CarolinaGirl on March 05, 2019, 01:39:04 PM
Post by: Monkey stache on March 05, 2019, 02:37:08 PM
Post by: The 585 on March 05, 2019, 03:12:37 PM
Currently looking for a rental in the DC/NoVA area. Hoping to stay under $3300 for ~1500sqft, 3 beds (or 2 beds and den, semi-finished basement, or other third space), close to a metro stop, and with a very short commute. It looks possible, but it might be challenging. That's before utilities.
At that budget, can absolutely be done!
Post by: FireHiker on March 05, 2019, 05:29:21 PM
I can't complain too much though. We have a 2 mile commute, excellent schools, and over 50% equity after only putting 20% down six years ago when we bought the house. We'll ultimately downsize and move to a L(er)COL area when we don't need the jobs. We do not live very mustachian-ly, but we still have a savings rate of 30-40%. Knowing we could sell and retire in a true LCOL area anytime is pretty comforting.
Post by: clarkfan1979 on March 05, 2019, 06:15:56 PM
Our mortgage is $2685/month and (utilities + internet) is around $350/month, so a grand total of $3,035/month.
We have a finished basement with a separate entrance that gets $1600/month as a mother in law suite. It's a one-bedroom and around 650 sq. ft.
We are left paying $1435/month. However, $700/month goes toward principle.
We were previously renting a 2-bedroom/1 bath apartment for $1500/month (utilities included). However, it was 15 minutes farther from work and activities.
Electricity: $200
Propane: $50
Water: $43
Internet: $57
Mortgage: $2,444
Taxes: $120
Insurance: $121
Post by: BicycleB on March 05, 2019, 06:28:58 PM
Post by: Padonak on March 06, 2019, 10:18:11 AM
I'm in Ecuador renting a 3 bedroom, 1 bath apartment with a private rooftop terrace for $350 a month. All utilities except internet are no more than $20/mo combined. I work from home so I pay $61 for 50/50 mbps fiber optic internet.Where in Ecuador?
Post by: Villanelle on March 06, 2019, 02:12:50 PM
Currently looking for a rental in the DC/NoVA area. Hoping to stay under $3300 for ~1500sqft, 3 beds (or 2 beds and den, semi-finished basement, or other third space), close to a metro stop, and with a very short commute. It looks possible, but it might be challenging. That's before utilities.
At that budget, can absolutely be done!
Thanks! Good to hear! We are looking to be in Old Town, or perhaps Del Rey (King or Braddock metro), so we want to be *really* close in.
Post by: CCCA on March 07, 2019, 10:52:08 AM
$2000 for mortgage and $1000 for prop tax each month.
Post by: BookLoverL on March 07, 2019, 03:57:36 PM
I'm hoping to move out in the future, but only once I've a) saved up more of an initial deposit because I don't want a big mortgage and renting is more expensive in the long run, and b) I've identified some people I could live with as housemates to cut the cost (whether romantic partner(s) or just good platonic friends). I'm emotionally attached to my local village and nearby areas, in which house prices start from around £130,000 for an area I'd actually want to live in, last I checked. So if I had 1 friend, I would only need £65,000 to pay for my share, and if I had 2 friends, I'd only need £40,000-£45,000, etc. Then, aside from a mortgage, the ongoing cost of bills would be cheaper, because if I was sharing with friends we'd be splitting them, and also because I am more eco-friendly than my parents and would choose eco-friendly friends to live with, plus the house would be smaller and have less council tax, so the overall bill would be lower anyway.
Post by: Slow2FIRE on March 07, 2019, 05:04:35 PM
Currently looking for a rental in the DC/NoVA area. Hoping to stay under $3300 for ~1500sqft, 3 beds (or 2 beds and den, semi-finished basement, or other third space), close to a metro stop, and with a very short commute. It looks possible, but it might be challenging. That's before utilities.
At that budget, can absolutely be done!
Thanks! Good to hear! We are looking to be in Old Town, or perhaps Del Rey (King or Braddock metro), so we want to be *really* close in.
Love that area. So easy to bike into DC from Old Town.
Post by: clarkfan1979 on March 08, 2019, 09:54:29 AM
@clarkfan1979, you're in Hawaii for a net cost of $700/mo plus cost of capital? Depending on capital invested, that sounds pretty amazing!
Purchase price was $603K. With closing costs and repairs, we are all-in at 650K. House is currently worth 750K to 800K. Median price for our zip code is 815K.
With 20% down, we had to come up with 127K at closing and another 40K for repairs. It's not cheap, but it's doable.
Post by: Villanelle on March 08, 2019, 07:15:45 PM
Currently looking for a rental in the DC/NoVA area. Hoping to stay under $3300 for ~1500sqft, 3 beds (or 2 beds and den, semi-finished basement, or other third space), close to a metro stop, and with a very short commute. It looks possible, but it might be challenging. That's before utilities.
At that budget, can absolutely be done!
Bike to the Pentagon is part of the plan!
Thanks! Good to hear! We are looking to be in Old Town, or perhaps Del Rey (King or Braddock metro), so we want to be *really* close in.
Love that area. So easy to bike into DC from Old Town.
Post by: englishteacheralex on March 09, 2019, 12:13:30 AM
3/2 condo with 2 parking spots. Mortgage $1600/month (includes escrow--insurance and property taxes). HOA $650/month. Electricity ~$120/month. So $2370/month total.
Bought in 2015.
Post by: Linea_Norway on March 09, 2019, 12:57:00 AM
Paying board to my parents right now - I pay £30 per week and they cover all bills. I offered to pay an actually even share of the household bills rather than a reduced rate in the name of fairness, since that'd still be cheaper than renting, but my mum wouldn't let me.
I'm hoping to move out in the future, but only once I've a) saved up more of an initial deposit because I don't want a big mortgage and renting is more expensive in the long run, and b) I've identified some people I could live with as housemates to cut the cost (whether romantic partner(s) or just good platonic friends). I'm emotionally attached to my local village and nearby areas, in which house prices start from around £130,000 for an area I'd actually want to live in, last I checked. So if I had 1 friend, I would only need £65,000 to pay for my share, and if I had 2 friends, I'd only need £40,000-£45,000, etc. Then, aside from a mortgage, the ongoing cost of bills would be cheaper, because if I was sharing with friends we'd be splitting them, and also because I am more eco-friendly than my parents and would choose eco-friendly friends to live with, plus the house would be smaller and have less council tax, so the overall bill would be lower anyway.
Do I understand correctly that you want to buy a house together with a friend, each paying half the price? I think you should consider the consequences in case the friend wants to move out. Then you will have to buy him/her out. It would be much simpler if you bought the house alone and rented out half the house to a friend. If the friend moves out, you just find another roommate.
Post by: jlcnuke on March 09, 2019, 07:21:19 AM
PI - ~$850/month
TI- ~ $200/month
Utilities/maintenance/etc - ~$450/month
Post by: londonbanker on March 10, 2019, 12:41:56 AM
Monthlys as follow-
£3,400 mortgage
£225 taxes
£150 utilities
£50 internet and insurance
£100 general maintenance
Plan is to repay the mortgage faster and drop the monthly payment below £2k within the next 2 years
Post by: BookLoverL on March 10, 2019, 11:03:10 AM
Paying board to my parents right now - I pay £30 per week and they cover all bills. I offered to pay an actually even share of the household bills rather than a reduced rate in the name of fairness, since that'd still be cheaper than renting, but my mum wouldn't let me.
I'm hoping to move out in the future, but only once I've a) saved up more of an initial deposit because I don't want a big mortgage and renting is more expensive in the long run, and b) I've identified some people I could live with as housemates to cut the cost (whether romantic partner(s) or just good platonic friends). I'm emotionally attached to my local village and nearby areas, in which house prices start from around £130,000 for an area I'd actually want to live in, last I checked. So if I had 1 friend, I would only need £65,000 to pay for my share, and if I had 2 friends, I'd only need £40,000-£45,000, etc. Then, aside from a mortgage, the ongoing cost of bills would be cheaper, because if I was sharing with friends we'd be splitting them, and also because I am more eco-friendly than my parents and would choose eco-friendly friends to live with, plus the house would be smaller and have less council tax, so the overall bill would be lower anyway.
Do I understand correctly that you want to buy a house together with a friend, each paying half the price? I think you should consider the consequences in case the friend wants to move out. Then you will have to buy him/her out. It would be much simpler if you bought the house alone and rented out half the house to a friend. If the friend moves out, you just find another roommate.
It's more of a vague idea at the moment than anything resembling a concrete plan, but you're right that this would be a concern. I just need to save up a higher deposit first before I can do the plan where I own the house myself, and I have low income at the moment. I need to think about it more, anyway...
Post by: skip207 on March 10, 2019, 01:25:13 PM
Council Tax £220
Insurance £30
Phone / Internet £22
So, around £400 per month. UK, LCOL area.
No mortgage.
Post by: the barefoot badger on March 10, 2019, 02:11:53 PM
Post by: Zikoris on March 10, 2019, 02:16:58 PM
Post by: Kay-Ell on March 10, 2019, 06:55:01 PM
Post by: englishteacheralex on March 10, 2019, 11:26:28 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
Well...Our $2200/month for the HOA fee and the mortgage represents about 22% of our monthly take home pay. $2200/month is a shit ton compared to some people, and if we lived in a LCOL it would probably represent quite an enormous house. But we like living in Hawaii, and our condo is live-able, though modest by mainland standards. And we don't have trouble affording it. So we view spending our housing money on a small condo as worth the cost of living in a place we love.
Post by: expatartist on March 11, 2019, 01:29:48 AM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
Good question - I pay a lot per square foot: US$850 for 150sqf. And the quality of my facilities would be unacceptable to many North Americans, but I don't mind since the architecture is unique. Buying will be even more expensive, but I am committed to staying in this HCOL city long-term because I love it, my job/career in its evolving form is only possible here. I've lived in a bunch of countries and cities and this one, for me, takes the cake.
Eventually I plan to buy a small place here, then rent it out and move to a relatively LCOL city in Europe (possibly Berlin or Rotterdam, depends on a bunch of factors) for a number of years to make work and gain residency there. Then eventually spend time here, there, or places in between. People in my industry commonly have 2 home bases: one LCOL with larger studio space, and another in a HCOL area where the career connections and flexible studio arrangements are. Due to our irregular income and our tendency to gentrify areas, it's important for artists to secure mortgages when we can and to prioritise paying for our housing/studio space.
Post by: Linea_Norway on March 11, 2019, 03:22:20 AM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
My cost was as mentioned earlier 5300 euro per year, 441 euro per month. If I were to rent something big enough for 2 people, I could not rent anything for that price.
I have been thinking about after FIRE. Putting 400K euro in the stock market, earning 4% per year, gives med 1300 euro per month. So if I rent, I can pay 1300 euro per month and have my money in the stock market generating the same amount. I don't think I could rent something of the same standard as I could buy for those 400K euros. So I am really not sure renting is a good deal overall. But when we move to a new place, renting for (at least) a year is smart to do anyway.
Post by: BicycleB on March 11, 2019, 12:39:53 PM
People in my industry commonly have 2 home bases: one LCOL with larger studio space, and another in a HCOL area where the career connections and flexible studio arrangements are.
@expatartist, I didn't know that. Very interesting! Thanks for posting.
Due to our irregular income and our tendency to gentrify areas, it's important for artists to secure mortgages when we can and to prioritise paying for our housing/studio space.
Now that's empowerment! Well done.
Post by: expatartist on March 11, 2019, 08:12:50 PM
Due to our irregular income and our tendency to gentrify areas, it's important for artists to secure mortgages when we can and to prioritise paying for our housing/studio space.
Now that's empowerment! Well done.
[/quote]
When your studio is showroom and workspace and gallery and you live in a HCOL area it can be tough to figure out how to make all of it work! I lived in Brooklyn as artists were getting kicked out of their [illegal] studios in my neighborhood after they'd made it hip. For many years that and the stress of large cities turned me off from HCOL areas. But over time, what I made changed from illustration (where it's easier to live anywhere) to contemporary art, where it's important to continue to make contacts in person and take the pulse/influence what's happening in contemporary culture. Now I don't mind the stress :)
There are a handful of 'contemporary art cities' around the world, where you've got the money and the institutions, infrastructure, and audience to show and sell (or nurture through grants/other opportunities) contemporary cultural production: London and Berlin, the NYC area, Beijing and LA for contemporary art, Turin and Rotterdam for design, Hong Kong and Basel, Brussels and Miami for art fairs. People in the creative industries are drawn to these cities for opportunities you can't get elsewhere. They make connections then after a decade or two, getting to a certain level of success, some leave for LCOL areas for a quieter life while maintaining contacts and relevance via regular exhibitions and studio. Where I live is more of a showroom than a place for production, but having left the US for good means I'll always be an outlier ;)
/threadhijack
Post by: CoffeeAndDonuts on March 11, 2019, 08:19:50 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
I'm not sure where the shit ton bar is but I'll say that we have a more expensive home than I probably ever expected is to have.
After renovations this summer, I expect it will be in the range of $550k.
I prefer to look at it through and opportunity cost lens:
$38.5k : 7% real return on $550k.
$7k : prop taxes
$1.5k : insurance
= $47k / year not counting utilities and maintenance.
Now, we would need a place to live. Let's fudge it and say we could find some place at half the price. The luxury then of our expensive home is $23.5k/yr or $2k/mo we could spend elsewhere.
We live modestly everywhere else. We've chosen this knowingly and are generally happy with it but I'll admit that $2k/mo gives me pause.
Except that I'm not sure what I'd do with it. Nothing leaves me thinking I'd want to trade down right now. Not more stuff, more travel, more security.
I think I'm ok with it. Still, $2k/mo luxury tax. Hmmm. Smthg to think about.
Post by: dude on March 12, 2019, 07:43:39 AM
Post by: shelbyautumn on March 12, 2019, 08:06:36 AM
We live in a 1600 sqft 3bd/2ba home in the Jackson, MS area. It was completely renovated before we purchased for $180k (with a 20% down payment @ 3.75%), and we love it. Finding a home when we eventually move away from Mississippi is going to be a big, fat reality check - they're all cheap and beautiful here.
Utilities average about $165 a month for gas/water/electricity.
Post by: Arbitrage on March 12, 2019, 08:14:52 AM
(Per month)
Mortgage $2450
Taxes $650
Insurance $75
Maintenance - budgeted $325
Post by: Monkey stache on March 12, 2019, 08:53:35 AM
I'm in Ecuador renting a 3 bedroom, 1 bath apartment with a private rooftop terrace for $350 a month. All utilities except internet are no more than $20/mo combined. I work from home so I pay $61 for 50/50 mbps fiber optic internet.Where in Ecuador?
I'm in Quito
Post by: dude on March 12, 2019, 09:02:51 AM
I'm in Ecuador renting a 3 bedroom, 1 bath apartment with a private rooftop terrace for $350 a month. All utilities except internet are no more than $20/mo combined. I work from home so I pay $61 for 50/50 mbps fiber optic internet.Where in Ecuador?
I'm in Quito
I stayed at the Magic Bean hostel in Quito back in 2002, when I was there to climb Cotopaxi and Cayambe. Cool place.
Post by: NorthernBlitz on March 12, 2019, 09:20:20 AM
Prices are reasonable but taxes are high.
No mortgage but, $1k / month in property taxes
Post by: EngagedToFIRE on March 12, 2019, 09:30:28 AM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
Opinions will vary. There are people who make a lot of money but prefer modest housing. My situation is a little different. We have a $1.5M house in an area where you get a substantial home for that money. We also have mid-high six figure income. While we could have a cheaper house and be fine, we are also of the opinion that we have very high incomes and already enough money to FIRE in a LCOL situation. Since we can already FIRE but we like what we do and don't want to retire, why not have the big house? Do we feel we get a lot of value and it's worth the cost? We really do. Not a day goes by I don't sit back and appreciate my house and how happy it makes me. We have a movie theater in the house that cost nearly $90k to build by the previous owner. He lost money on the house and we got a pretty good deal on it. Seems crazy, we would never build something like that, but we use it 5+ nights a week. We feel it's worth it for the joy it brings us. The same with the backyard. It's like a private resort. We use it all the time and love it.
I'm not trying to brag, only answering your question. What it comes down to is that everyone is in a different situation. If we were working regular jobs and spending 40% of our income on a house like this, I would say not worth it at all. But for us, it's worth it.
Post by: Arbitrage on March 12, 2019, 09:47:04 AM
Southern CA. House purchased 5.5 years ago, but refinanced into a 20 year mortgage 1.5 years ago. ~2000 sf on a 1/8 acre lot.
(Per month)
Mortgage $2450 ($1100/month interest)
Taxes $650
Insurance $75
Maintenance - budgeted $325
Also, I don't know if we qualify as people who spend an excessive amount on housing or not, but it's worth it for us, given where we live. Renting a similar house would run about $4k. Now, we could downsize a bit, or move to an area with worse schools/higher crime that's still in biking proximity to work. If we did both of those, we could probably rent a place for maybe $2200-2400 per month.
I feel that our house is the right size for us - slightly bigger than we need, but we also host guests on a not infrequent basis, during which times we're feeling just a tad bit cramped. Really, the true cost savings would come from leaving SoCal. Given where we live now, our housing costs are worth it.
Post by: bacchi on March 12, 2019, 09:49:03 AM
I'm in Ecuador renting a 3 bedroom, 1 bath apartment with a private rooftop terrace for $350 a month. All utilities except internet are no more than $20/mo combined. I work from home so I pay $61 for 50/50 mbps fiber optic internet.Where in Ecuador?
I'm in Quito
I stayed at the Magic Bean hostel in Quito back in 2002, when I was there to climb Cotopaxi and Cayambe. Cool place.
I was climbing in Ecuador in 2002 as well. We probably crossed one another's paths in the mountain refuges or on the mountains.
Post by: ducky19 on March 12, 2019, 10:00:18 AM
Post by: Guizmo on March 12, 2019, 10:28:00 AM
HOA - $285
Electric ~ $50
Taxes - $51
Makes saving super easy.
Post by: ketchup on March 12, 2019, 10:32:22 AM
It's beautiful. The kind of place you'd take someone if you wanted to murder them and nobody would hear their screams.
Post by: Better Change on March 12, 2019, 11:20:10 AM
Post by: horsepoor on March 12, 2019, 11:46:50 AM
It has appreciated enough that we could sell and buy a smaller house for cash and pay <$200/month for taxes and insurance. However, we really like having the space - I have all the room I want for my veggie garden and parking my truck + horse trailer, we have a nice walk-out basement that is a great space for teleworking and hobbies, and a dedicated guest bedroom. The neighborhood is great, and less than 4 miles from work.
Utilities are very reasonable in Idaho, and we keep it around 60 in the winter and 78 in the summer, so average costs are <$150/month including water and trash.
Post by: Villanelle on March 12, 2019, 06:22:30 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
We move where Husband's job (military) takes us. Sometimes, it feels fairly worth it, and other times, not so much, but that's just personal preference. San Diego was a great fit for us, and thus the inflated prices felt like they were at least buying us some intangible quality of life factors.
Any place we've paid a "shit ton" has been based on location, not the actual dwelling.
Post by: Slow2FIRE on March 12, 2019, 09:19:22 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
I'm not sure what is considered a "shot ton"...but since we pay $1960/month for the PITI, I'll assume that we may be borderline "shit ton"?
Is it worth it?
-15yr mortgage, we could pay less each month on a 30yr, but we didn't want to pay that much in interest (the rate and total over the life of the loan)
-small percentage of income, so it doesn't interfere with our savings
-feel it is a good decision and we don't feel ripped off
Post by: JLee on March 13, 2019, 12:34:07 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
I'm not sure what is considered a "shot ton"...but since we pay $1960/month for the PITI, I'll assume that we may be borderline "shit ton"?
Is it worth it?
-15yr mortgage, we could pay less each month on a 30yr, but we didn't want to pay that much in interest (the rate and total over the life of the loan)
-small percentage of income, so it doesn't interfere with our savings
-feel it is a good decision and we don't feel ripped off
haha, that seems cheap to me..$1950/mo to rent a ~900 sq ft apartment :(
Post by: HamsterStache on March 13, 2019, 01:09:08 PM
Post by: bluecollarmusician on March 13, 2019, 01:37:20 PM
And, because it's fun to do, I'll ping @bluecollarmusician, because he has some great housing hack stories.
I am late to the party, but felt compelled to respond, since my good buddy @Dicey tagged me :-) !
Unfortunately, I haven't had time to read the whole thread, so I might be saying something that others have covered;
Our actual cost seems low where we currently live; since we own our condo outright, the only costs are: 300/property tax, 300/HOA fees, and maybe 250/year for condo insurance. This is for a beachfront condo- HOA fees are high due to cost of waterfront insurance, and also higher maintenance costs associated with damage from salt air.
In all- it's darn cheap for living on the beach front.
The elephant in the room is opportunity cost; i.e. it's very popular on this site to own your place outright- and that does keep monthly costs low. But, if I had 300k invested in multiple rental properties or other investments, using the 4% # I would be able to pay around $1800/month and still be spending the equivalent and not have ANY of the liability associated with ownership. Of course- I have left out the possible appreciation of your property above the cost of inflation- but even as a real estate investor, it feels silly to count home equity appreciation as cash flow, since we would still be living in the market that we are selling in. I suppose we could down size, but that is a different topic.
So, for "high end" living I have come to the conclusion that renting might be better than buying. We aren't planning on changing our strategy any time soon- we love where we live.
The bar none, #1 thing that will allow you to control housing costs is to get over the idea of living with someone else. It is a MASSIVE opportunity to leverage the cost of housing. I see people post so often about "I need my own space, " or "it's worth it to me, " etc... but boy of boy if you are serious about getting rich fast- that and getting rid of the car are the 2 things that can change your life the fastest.
I expect most people who optimized their living driving situation could spend double on what they currently spend on food, and still be saving more than they currently are. The are 2 such giant line items in people's budget- and people so seldom really question other options.
I know- easy for me to talk with our beach house, while I tool around with the top down on my Porsche. But the reality is, that until the last two years our household income per person NEVER exceeded 30k (for my wife and myself) and by optimizing housing and transportation we are able to easily afford these things.
And if ever needed to downsize, you can live for cheaper in Middle GA than you can in most 3rd world countries- and I loved living there! We bought a fixer for 25k in a great little neighborhood- I could walk to the grocery store, drug store and convenience store but were off the main road. Our property taxes ran 500/year. Our utilities were cheap- high speed internet was our biggest month cost... well and we did run the AC some in the summer. And after I fixed it up, it was a really great house!
Be brave- think outside the box.
Post by: Slow2FIRE on March 13, 2019, 02:15:26 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
I'm not sure what is considered a "shot ton"...but since we pay $1960/month for the PITI, I'll assume that we may be borderline "shit ton"?
Is it worth it?
-15yr mortgage, we could pay less each month on a 30yr, but we didn't want to pay that much in interest (the rate and total over the life of the loan)
-small percentage of income, so it doesn't interfere with our savings
-feel it is a good decision and we don't feel ripped off
haha, that seems cheap to me..$1950/mo to rent a ~900 sq ft apartment :(
I've "almost" been there before and know your pain. From 2012-2015 we were living in DC renting an 1100sq ft condo for $1850/month. I suppose with inflation, maybe we were paying close to what you pay now.
Post by: Villanelle on March 13, 2019, 03:28:48 PM
And, because it's fun to do, I'll ping @bluecollarmusician, because he has some great housing hack stories.
I am late to the party, but felt compelled to respond, since my good buddy @Dicey tagged me :-) !
Unfortunately, I haven't had time to read the whole thread, so I might be saying something that others have covered;
Our actual cost seems low where we currently live; since we own our condo outright, the only costs are: 300/property tax, 300/HOA fees, and maybe 250/year for condo insurance. This is for a beachfront condo- HOA fees are high due to cost of waterfront insurance, and also higher maintenance costs associated with damage from salt air.
In all- it's darn cheap for living on the beach front.
The elephant in the room is opportunity cost; i.e. it's very popular on this site to own your place outright- and that does keep monthly costs low. But, if I had 300k invested in multiple rental properties or other investments, using the 4% # I would be able to pay around $1800/month and still be spending the equivalent and not have ANY of the liability associated with ownership. Of course- I have left out the possible appreciation of your property above the cost of inflation- but even as a real estate investor, it feels silly to count home equity appreciation as cash flow, since we would still be living in the market that we are selling in. I suppose we could down size, but that is a different topic.
So, for "high end" living I have come to the conclusion that renting might be better than buying. We aren't planning on changing our strategy any time soon- we love where we live.
The bar none, #1 thing that will allow you to control housing costs is to get over the idea of living with someone else. It is a MASSIVE opportunity to leverage the cost of housing. I see people post so often about "I need my own space, " or "it's worth it to me, " etc... but boy of boy if you are serious about getting rich fast- that and getting rid of the car are the 2 things that can change your life the fastest.
I expect most people who optimized their living driving situation could spend double on what they currently spend on food, and still be saving more than they currently are. The are 2 such giant line items in people's budget- and people so seldom really question other options.
I know- easy for me to talk with our beach house, while I tool around with the top down on my Porsche. But the reality is, that until the last two years our household income per person NEVER exceeded 30k (for my wife and myself) and by optimizing housing and transportation we are able to easily afford these things.
And if ever needed to downsize, you can live for cheaper in Middle GA than you can in most 3rd world countries- and I loved living there! We bought a fixer for 25k in a great little neighborhood- I could walk to the grocery store, drug store and convenience store but were off the main road. Our property taxes ran 500/year. Our utilities were cheap- high speed internet was our biggest month cost... well and we did run the AC some in the summer. And after I fixed it up, it was a really great house!
Be brave- think outside the box.
We area a military family and as such live near military bases. I'm researching a new location in prep for a move, so I'm on several area-specific Facebook groups for military families. And I'm see many, "my husband/daughter/friend's son is going to be in the area for a month [or three months] for training and is looking for a place to stay." While both my husband and I are pretty extreme introverts and the idea of people, let alone *new* people, is painful, I'm starting to think that maybe once we are settled, we could do this. If it's a few months or less, it seems tolerable, and getting $500/mo (just a guess at what we could get and I suspect that's on the lower end in a place where a 1500sqfto townhouse rents for $3300+) for 2-3 months a year seems nice.
So even for those who don't like the idea of space sharing, there may be shorter term, more palatable compromises.
Post by: Dicey on March 13, 2019, 10:56:05 PM
Thanks for both of these responses, @bluecollarmusician and @Villanelle.
And, because it's fun to do, I'll ping @bluecollarmusician, because he has some great housing hack stories.
I am late to the party, but felt compelled to respond, since my good buddy @Dicey tagged me :-) !
Unfortunately, I haven't had time to read the whole thread, so I might be saying something that others have covered;
Our actual cost seems low where we currently live; since we own our condo outright, the only costs are: 300/property tax, 300/HOA fees, and maybe 250/year for condo insurance. This is for a beachfront condo- HOA fees are high due to cost of waterfront insurance, and also higher maintenance costs associated with damage from salt air.
In all- it's darn cheap for living on the beach front.
The elephant in the room is opportunity cost; i.e. it's very popular on this site to own your place outright- and that does keep monthly costs low. But, if I had 300k invested in multiple rental properties or other investments, using the 4% # I would be able to pay around $1800/month and still be spending the equivalent and not have ANY of the liability associated with ownership. Of course- I have left out the possible appreciation of your property above the cost of inflation- but even as a real estate investor, it feels silly to count home equity appreciation as cash flow, since we would still be living in the market that we are selling in. I suppose we could down size, but that is a different topic.
So, for "high end" living I have come to the conclusion that renting might be better than buying. We aren't planning on changing our strategy any time soon- we love where we live.
The bar none, #1 thing that will allow you to control housing costs is to get over the idea of living with someone else. It is a MASSIVE opportunity to leverage the cost of housing. I see people post so often about "I need my own space, " or "it's worth it to me, " etc... but boy of boy if you are serious about getting rich fast- that and getting rid of the car are the 2 things that can change your life the fastest.
I expect most people who optimized their living driving situation could spend double on what they currently spend on food, and still be saving more than they currently are. The are 2 such giant line items in people's budget- and people so seldom really question other options.
I know- easy for me to talk with our beach house, while I tool around with the top down on my Porsche. But the reality is, that until the last two years our household income per person NEVER exceeded 30k (for my wife and myself) and by optimizing housing and transportation we are able to easily afford these things.
And if ever needed to downsize, you can live for cheaper in Middle GA than you can in most 3rd world countries- and I loved living there! We bought a fixer for 25k in a great little neighborhood- I could walk to the grocery store, drug store and convenience store but were off the main road. Our property taxes ran 500/year. Our utilities were cheap- high speed internet was our biggest month cost... well and we did run the AC some in the summer. And after I fixed it up, it was a really great house!
Be brave- think outside the box.
We area a military family and as such live near military bases. I'm researching a new location in prep for a move, so I'm on several area-specific Facebook groups for military families. And I'm see many, "my husband/daughter/friend's son is going to be in the area for a month [or three months] for training and is looking for a place to stay." While both my husband and I are pretty extreme introverts and the idea of people, let alone *new* people, is painful, I'm starting to think that maybe once we are settled, we could do this. If it's a few months or less, it seems tolerable, and getting $500/mo (just a guess at what we could get and I suspect that's on the lower end in a place where a 1500sqfto townhouse rents for $3300+) for 2-3 months a year seems nice.
So even for those who don't like the idea of space sharing, there may be shorter term, more palatable compromises.
Funny, I was never a high wage earner, always lived in a HCOLA, and was single until I was 54. It took me a long time to get traction as an investor, because I was determined to buy a house first. I didn't start investing particularly early either. Two things that had a huge impact were that I had a job that included a company car for a good portion of my career, and I almost always lived with roommates. Having roommates was a life-enriching experience and it let me save a boatload of cash. I would do it again in a heartbeat.
Villanelle, one advantage of your situation is that if you rent to someone who is active duty, they know they can't fuck up. Screen for smoking and a compatible personality type and you should be fine. Always trust your gut. If you are introverts, look for someone similar. Nothing worse than someone who wakes up talking loudly before you've even pushed the button on the coffee pot. Another trigger to watch for is someone who speaks loudly on their phone, which can be really irritating if they're blabbing to their spouse at all hours while you're trying to sleep. Oh, watch put for loud snorers too. Been there, done that, but fortunately those problem folks were only visiting relatives, not roommates.
Post by: Linea_Norway on March 14, 2019, 01:10:06 AM
Oh, watch put for loud snorers too.
Now that is not so easy to check by researching and interviewing people. Or do you suggest that the roommate sleeps over for a couple of days as a test? ;-)
Post by: Dicey on March 14, 2019, 06:06:43 AM
I included this warning because my BIL stayed with us once. He snored so loudly it practically shook the windowpanes out of their frames. When I asked, he knew he was a snorer. I'd start by asking the question during the interview process.Oh, watch put for loud snorers too.
Now that is not so easy to check by researching and interviewing people. Or do you suggest that the roommate sleeps over for a couple of days as a test? ;-)
Post by: EvenSteven on March 14, 2019, 12:05:21 PM
~700/mo PITI
It comes with public schools ranked at 1 on the greatschools ranking, so I'll be buying some better schools in the near future.
Post by: Bearblastbeats on March 14, 2019, 12:19:31 PM
Elec. = $100-$125
Oil = $500-$600 every 1.5- 2 months during winter
Internet = $75
These are just for living.
Post by: Dogastrophe on March 14, 2019, 12:39:48 PM
$1825/month for mortgage & property tax (~310 of this is prop tax)
$354/month condo fee
$23/month insurance
avg around $150/month electricity (we don't have 12 months of data yet to get a good average)
For comparison, the sister building next door to us is a rental building (same developer, same unit layouts). The equivalent unit in the rental would costs us around $1775 + 100 (indoor parking) + 75 (storage locker) = 1950/month + insurance + electricity, and we'd need to be pet free.
Post by: Jon_Snow on March 14, 2019, 10:30:34 PM
Post by: noahmcdonnell on March 17, 2019, 11:30:23 PM
Numbers from last month for a 2 bedroom/1 bath condo (with garage)in a small town:
Mortgage $183
HOA $100
Utilities $147 (Electric, gas, sanitation, mobile phone, fiber internet and landline)
Property tax $80 (projected, I pay it twice a year but it works out to $80/mo)
Insurance $50 (projected)
Total $560
I work from home so no commute. I can walk to a grocery store, hardware store, post office, library, florist, or pub in minutes and during the week there is bus service to the nearest large city so I don't really need a car but I have one anyway (paid for). Wonderful neighbors, close knit community.
Informative post for me. Thank You
Post by: ted1858 on March 18, 2019, 04:26:43 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
Our monthly PITI is ~$3800. We're in Texas where we have no state income tax but high property tax rates, so ~$1000 of that monthly payment is property taxes. The high housing cost to me is a good trade-off: I have a 10 minute commute instead of an hour commute. Sure we could lower our housing costs by ~40% by moving to the suburbs, but I'd rather have that extra 1.5hr+ at home instead of on the road each day.
Post by: BlueMR2 on March 18, 2019, 05:02:16 PM
Post by: Villanelle on March 18, 2019, 07:04:09 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
Our monthly PITI is ~$3800. We're in Texas where we have no state income tax but high property tax rates, so ~$1000 of that monthly payment is property taxes. The high housing cost to me is a good trade-off: I have a 10 minute commute instead of an hour commute. Sure we could lower our housing costs by ~40% by moving to the suburbs, but I'd rather have that extra 1.5hr+ at home instead of on the road each day.
Whoa! I've always hear that housing in Texas is fairly cheap. Is that a 20y mortgage? Care to share the home size and purchase (or current FMV) price?
Post by: Wrenchturner on March 19, 2019, 12:25:57 AM
Post by: ted1858 on March 19, 2019, 03:40:56 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
Our monthly PITI is ~$3800. We're in Texas where we have no state income tax but high property tax rates, so ~$1000 of that monthly payment is property taxes. The high housing cost to me is a good trade-off: I have a 10 minute commute instead of an hour commute. Sure we could lower our housing costs by ~40% by moving to the suburbs, but I'd rather have that extra 1.5hr+ at home instead of on the road each day.
Whoa! I've always hear that housing in Texas is fairly cheap. Is that a 20y mortgage? Care to share the home size and purchase (or current FMV) price?
It's 2200 sqft located in inner-city Houston. It's not a huge house, but pretty well remodeled. Purchase price was 630k or so with 30 year mortgage. For what it's worth, lot values are like 400k "in town".
Now, the suburbs are a totally different story, but that is an hour commute into downtown. Could probably get a similarly appointed house out there for 350-400k (it would be much larger than my current home, as they build 'em big in the suburbs). But yeah the average home price in greater Houston was 299k in 2018 (238k median price).
Post by: alsoknownasDean on March 30, 2019, 12:19:30 AM
Looking to buy a place later this year, and that'll probably go up a bit (A$1800-1900 per month maybe, depending on prices), but I'm OK with that as I'd be getting more space as well. I'm getting over this current place.
Post by: accolay on March 30, 2019, 03:18:07 AM
PITI is $626/month.
Post by: jaysee on March 30, 2019, 06:21:01 AM
Not sure if I'm being ripped off, but this is the lowest I could get, after spending hours on SpareRoom, asking everyone I know, trying to bargain for lower rents, etc.
What can I say? London is expensive.
This still seems pretty cheap, as I was paying more for a similar deal when I lived in Sydney.
The room is tiny but cozy and very close to amenities. I spend a lot of time out of the house anyway, going to work, the gym, parks, etc. So the room is mainly just to sleep in and sometimes work in.
Post by: Linea_Norway on March 30, 2019, 10:24:46 AM
£420 p/month for a tiny room in a nice area in South London, 45-min commute from the city. Includes everything - bills, cleaner, tax, etc.
Not sure if I'm being ripped off, but this is the lowest I could get, after spending hours on SpareRoom, asking everyone I know, trying to bargain for lower rents, etc.
What can I say? London is expensive.
This still seems pretty cheap, as I was paying more for a similar deal when I lived in Sydney.
The room is tiny but cozy and very close to amenities. I spend a lot of time out of the house anyway, going to work, the gym, parks, etc. So the room is mainly just to sleep in and sometimes work in.
It sounds like a low price for living, despite the size of your room. As long as you can live for that price, you can keep a good savings rate.
Post by: froggie on March 30, 2019, 01:29:44 PM
Mortgage, insurance and taxes about $2,470 per month, plus utilities. 28 years to go...
3 bed/2 bath, about 1,800 sq ft in Annapolis MD.
Just built a tiny house in backyard, will rent out to offset mortgage soon!
Eventually when my son is off to college and it's not important for me to live near his father I plan to move :)
Post by: scottnews on April 02, 2019, 10:23:37 AM
Tax 75
Electric 60
Gas 50
Utilities (water, sewer, trash) 60
total ................................... 310
no mortgage
3BR 1bath 1100 sqft house. LCOL area.
Post by: mountain mustache on April 04, 2019, 06:39:40 AM
Post by: brandon1827 on April 04, 2019, 08:50:22 AM
Post by: mountain mustache on April 04, 2019, 08:57:49 AM
Sounds like a nice setup. Out of curiosity, what do you do when they want to use the place?
When they are here, I just have roommates! We are long time friends (and they are much older than me, so no drama), so it's just like having roommates who are friends for a weekend, and then they leave! It's the best, because it's a nice social interaction for a few days, but it's not all the time. I try to be very courteous, and I make sure the house is spotless when they arrive, and I move some of my things from the common areas so they feel like it's still vacation, and not like someone is living all over their house.
Post by: AlotToLearn on April 04, 2019, 09:29:37 AM
HOA 170
Insurance 25
Utilities 79
3 br 2.5 bath 1600 sq ft townhome
Post by: totoro on April 04, 2019, 07:34:04 PM
Question for the people who pay a shit ton for housing (there seem to be a lot!). How do you feel about it? Do you feel like you get a lot of value from it and it's worth the cost, or do you feel ripped off? Do you feel like buying/renting it was a good decision?
Buying was a good decision. Bought a triplex in 2012 For 717k with 20% down. Rents pay all expenses including ours, and it has appreciated about 600k since we bought. Some of the west coast markets have gone up a crazy amount.
Post by: JLee on April 05, 2019, 10:20:42 AM
The monthly payment would be 68% of my take-home before roommates, and after roommates about what I have now (but with 5x more parking, 50% more square footage, and 4x the lot).
Sometimes I wish I lived in a LCOL area again so I could afford more than one parking spot (I can barely fit my car in my little garage with most of my tools), but then it'd be hard to match my salary...agh.
Post by: Cassie on April 05, 2019, 11:57:22 AM