Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Army of One on April 19, 2020, 05:16:56 AM
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So money is essentially a reflection of the value of your labor right? Do you really think the work you do for the 30 odd years it takes to fully pay off a house accurately reflects the work out into making that house? Or is the value of land and homes currently way too overvalued?The land was once owned by nobody until somebody turned up and claimed it, then you are just looking at the materials and labor needed to put it up.
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yeah yeah, location location location, capitalist society, its worth what someone is willing to pay blah blah.This is a post covid19 world, people are seeing how pointless celebs, sports stars are, the joys of the quieter life around family, rethinking how they will spend their time in future.There is no way housing should cost anywhere near what it does, anyone saying otherwise is completely brainwashed.Going from memory, since the year 2000 wages have largely stayed the same in Seattle for example, but house prices are 5x higher.Thats just wrong.
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In most locations the land the house is on is worth more that the house. One thing is true is that barring a world wide pandemic a house will appreciate tremendously in 30 years. That 200K house bought 30 years ago has a chance to double in price or more.
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Not trying to pay it off. Have refied 4 times lowering payment but kicking the note further down the road. At some point we will downsize and have $$ in the bank
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Here in north east England Houses are still cheap, I got mine even cheaper as it needed a lot of work (60k less than others in sane street at time)so don’t fall into the normal lifetime commitment to pay off house which would fucking hate. All want out of life is finish paying it off and work as little as needed through 40s and 50s would fucking hate to have massive mortgage might as well be a slave for next 25 years
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Not trying to pay it off. Have refied 4 times lowering payment but kicking the note further down the road. At some point we will downsize and have $$ in the bank
If you pay extra toward the principal every month you will kick yourself down the amortization chart limiting the bank's profit from giving you a mortgage. Best part is that you can shorten the length of the loan drastically while saving a ton of money that was going toward interest.
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If you pay extra toward the principal every month you will kick yourself down the amortization chart limiting the bank's profit from giving you a mortgage. Best part is that you can shorten the length of the loan drastically while saving a ton of money that was going toward interest.
Why not just get a shorter loan term? I went with a 15 year note four years ago and it cut my interest rate almost in half and my payment only went up about $300 a month.
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In most locations the land the house is on is worth more that the house. One thing is true is that barring a world wide pandemic a house will appreciate tremendously in 30 years. That 200K house bought 30 years ago has a chance to double in price or more.
Doubling in price over 30 years is a 2.4% return.
Not good. It sucks really.
Plus you have to pay your mortgage interest, property taxes, repairs and upkeep.
Owning your own home is a luxury, not an investment, unless you luck into buying in an area of unreal appreciation before it takes off, like parts of California.
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Just buy when the real estate market tanks in a year or so. You'll get a fair price then. I bought after the last crash and got a good deal. Buy low, sell high, just like stocks. Only schmucks buy at the top.
Where I live the real estate prices are a bit inflated but that's partially because we have a lot of demand in the area and not enough supply......for now.
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Just buy when the real estate market tanks in a year or so. You'll get a fair price then. I bought after the last crash and got a good deal. Buy low, sell high, just like stocks. Only schmucks buy at the top.
Where I live the real estate prices are a bit inflated but that's partially because we have a lot of demand in the area and not enough supply......for now.
Absolutely. Great advices.
When the real estate market is high stay away! Stay on the sidelines and rent.
Buy at the top and you are going to be dead meat, owing more than the house is worth.
That's what happened to lots of people after the last crash.
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yeah yeah, location location location, capitalist society, its worth what someone is willing to pay blah blah.This is a post covid19 world, people are seeing how pointless celebs, sports stars are, the joys of the quieter life around family, rethinking how they will spend their time in future.There is no way housing should cost anywhere near what it does, anyone saying otherwise is completely brainwashed.Going from memory, since the year 2000 wages have largely stayed the same in Seattle for example, but house prices are 5x higher.Thats just wrong.
Supply and demand. Lots of people want to live there because of the jobs.
That's why beachfront houses are so expensive. Demand to live near the beach.
On the other hand houses are cheap in East Bumf*ck because nobody wants to live there.
You could buy a cheap house in East Bumf*ck too but It's a long commute to your job at Microsoft.
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Why don’t people just buy a mobile home like Goodrum.
He’s living just as good, if not, better than most getbiggers.
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Girls and sons who have not been loved by their fathers seek attention once teens and adults to compensate for what they didnt have originally. Fathers either left them alone, or were distant most of the time and not encouraging them. Some even despised them which would shape their personality and the way they d interact with others for the rest of their life.
They are extremistic in everything they do, always looking exageratly for attention, and have troubles adapting to society's rules, because they also have troubles defining their own identity and respecting authority and hierarchy.
Also boys who got picked on by others during childhood and adolescence -often sons without a father figure- try to compensate by lifting weights, to develop muscles and survive in ther male world. They re insecure because they re girly, childish, feminine having been raised by a single mom. They lift obsessively hoping it will transform them into men, to compensate for their lack of influence from a father figure that was not there. Unfortunaltey they can get as big as they can it doesnt cure their insecurity and who they truly are, how they grew up being raised by a single mom. They re no as manly as other men whatever they do, and they often have a big lack of masculine presence they dont know how to balance, hence often being borderline homosexuals while trying to get their manhood back thru various manly activities (mma, cars, weight lifting etc). They are often the ones that, in order to get respect from other males will go the steroids route to get even "bigger" attemptint to cure their insecurity , but being natural not being "enough", they still feel "too small", insecure, amongst other males. The lack of a father figure also often means they didnt have guidance to continue studies and are often working shitty manual jobs.
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Supply and demand. Lots of people want to live there because of the jobs.
That's why beachfront houses are so expensive. Demand to live near the beach.
On the other hand houses are cheap in East Bumf*ck because nobody wants to live there.
You could buy a cheap house in East Bumf*ck too but It's a long commute to your job at Microsoft.
Lots of people thought they wanted a beach front property, because they have been brainwashed in to the superficial mindset.How many just want a quiet life with a loving family on a patch of land they get to spend more than 1 day of a weekend on?
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Why don’t people just buy a mobile home like Goodrum.
He’s living just as good, if not, better than most getbiggers.
Jokes aside, very true.Its cheap, comfortable, on a nice green plot.He had the right idea from the start
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;D ;D
paid the house already..
Bought in 2006 / new construction at $175,000.00 First time buyer.. Got a screwed with a 30 year 6.375% rate.
I Refinanced in 2010 at 15 years at 3.75% rate..
Finished paying of the house in 2018
Now all I have is the property taxes which are $5,000.00 a year..
Looking now into building a infinity pool with jacuzzi in the back yard.
;D ;D
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Why don’t people just buy a mobile home like Goodrum.
He’s living just as good, if not, better than most getbiggers.
vince is in a bad neighborhood lots of dirty heroin zombies there and gay polygamy
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Girls and sons who have not been loved by their fathers seek attention once teens and adults to compensate for what they didnt have originally. Fathers either left them alone, or were distant most of the time and not encouraging them. Some even despised them which would shape their personality and the way they d interact with others for the rest of their life.
They are extremistic in everything they do, always looking exageratly for attention, and have troubles adapting to society's rules, because they also have troubles defining their own identity and respecting authority and hierarchy.
Also boys who got picked on by others during childhood and adolescence -often sons without a father figure- try to compensate by lifting weights, to develop muscles and survive in ther male world. They re insecure because they re girly, childish, feminine having been raised by a single mom. They lift obsessively hoping it will transform them into men, to compensate for their lack of influence from a father figure that was not there. Unfortunaltey they can get as big as they can it doesnt cure their insecurity and who they truly are, how they grew up being raised by a single mom. They re no as manly as other men whatever they do, and they often have a big lack of masculine presence they dont know how to balance, hence often being borderline homosexuals while trying to get their manhood back thru various manly activities (mma, cars, weight lifting etc). They are often the ones that, in order to get respect from other males will go the steroids route to get even "bigger" attemptint to cure their insecurity , but being natural not being "enough", they still feel "too small", insecure, amongst other males. The lack of a father figure also often means they didnt have guidance to continue studies and are often working shitty manual jobs.
Awesome, well-thought out post.
In addition, the steroids they take makes their dick and balls shrink, further adding to their insecurity.
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yeah yeah, location location location, capitalist society, its worth what someone is willing to pay blah blah.This is a post covid19 world, people are seeing how pointless celebs, sports stars are, the joys of the quieter life around family, rethinking how they will spend their time in future.There is no way housing should cost anywhere near what it does, anyone saying otherwise is completely brainwashed.Going from memory, since the year 2000 wages have largely stayed the same in Seattle for example, but house prices are 5x higher.Thats just wrong.
It's not like you are throwing the money away , at the end you will own a house and if you can sell it for 5X higher what you paid like you said , that's not too bad ,still better than renting .
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It's not like you are throwing the money away , at the end you will own a house and if you can sell it for 5X higher what you paid like you said , that's not too bad ,still better than renting .
"At the end" being the inportant words.Imagine if everyone could own their own home outright by 35.
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vince is in a bad neighborhood lots of dirty heroin zombies there and gay polygamy
Believe it or not, Vince is probably more stable than most getbiggers, emotionally, physically, and financially.
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Believe it or not, Vince is probably more stable than most getbiggers, emotionally, physically, and financially.
Compared to groink maybe ;D
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Nothing wrong about working hard to achieve big purchases.
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Doubling in price over 30 years is a 2.4% return.
Not good. It sucks really.
Plus you have to pay your mortgage interest, property taxes, repairs and upkeep.
Owning your own home is a luxury, not an investment, unless you luck into buying in an area of unreal appreciation before it takes off, like parts of California.
In the U.S. the mortgage interest and property taxes (capped at $10,000) can be written off to lower your tax liability.
Renting a home long term is pissing money away.
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Why not just get a shorter loan term? I went with a 15 year note four years ago and it cut my interest rate almost in half and my payment only went up about $300 a month.
That's one way to do it if you have the means. Many won't qualify for a 15 year mortgage loan. Banks know it limits their profit so they make it hard for many to qualify. The best part of getting a 30 year and paying it off quicker is that you have the option to suspend the monthly extra payment when you want. If Christmas is coming up you can can suspend the extra payments for a couple of months.
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In the U.S. the mortgage interest and property taxes (capped at $10,000) can be written off to lower your tax liability.
Renting a home long term is pissing money away.
Would you rather have:
1) a dollar in tax deduction
2) a dollar in cash?
If you picked the tax deduction you fail.
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Would you rather have:
1) a dollar in tax deduction
2) a dollar in cash?
If you picked the tax deduction you fail.
Would you rather have:
(1) Tax deductions to lower your AGI
(2) A rent payment
Life = you fail.
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suppose when you consider you would probably be paying more in rent than you would for mortgage on the same property and after 25 years of paying rent every month you have fuck all to show for it and have another 25 years or however long you live of still paying it’s not really an issue working for many years to pay off your house, you have to pay either way may as well pay for to eventually own it
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suppose when you consider you would probably be paying more in rent than you would for mortgage on the same property and after 25 years of paying rent every month you have fuck all to show for it and have another 25 years or however long you live of still paying it’s not really an issue working for many years to pay off your house, you have to pay either way may as well pay for to eventually own it
Makes about as much sense as leasing a car every two years.
Imagine how much money you could save for barbeque sauce ?
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Makes about as much sense as leasing a car every two years.
Imagine how much money you could save for barbeque sauce ?
Haha Would be be able to get one of those taps that dispense sauce installed
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Its important with long term goals.
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Haha Would be be able to get one of those taps that dispense sauce installed
Giant squirt guns filled with barbecue sauce ?
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I touched on this a few months back.
The previous real estate bubble that crashed has mostly re-inflated right back into the same bubble as before. I guess a few rural places might have been left out, but not any contested places or high traffic areas. Also, back in the old days (when really old people like pellius were alive) you could buy a house with like 2-3x the average yearly salary. Now home prices are like 10x the average yearly salary.
This was solely a function of the bankers manipulating the market into a state permanent NINJA loans and getting the government to backstop their losses if it all blows up on them by everyone defaulting. Meaning if banks did not exist and everyone had to pay cash for houses, the prices would be extremely low since nobody can extend the payment process over 30 years. If everyone on the planet can take out a 30 year NINJA loan, this means people who wouldn't even need a loan to buy a house before now need to take out a loan to get one too.
People buying up all the houses using zero collateral (many times the bankers themselves) create artificial scarcity, thus skyrocketing prices so you're required to labor decades more than normal for the same house. It's in the banker's interest to create housing bubbles because it forces the entire population into taking out loans which they otherwise would not need, or a giant transfer of wealth from the bottom 99% to the top 0.000000001% in other words.
The housing market is starting to look up, though. Pretty soon we'll all be saying "remember back in the old days before the bankers were holocausted (this time for real)?":
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Girls and sons who have not been loved by their fathers seek attention once teens and adults to compensate for what they didnt have originally. Fathers either left them alone, or were distant most of the time and not encouraging them. Some even despised them which would shape their personality and the way they d interact with others for the rest of their life.
They are extremistic in everything they do, always looking exageratly for attention, and have troubles adapting to society's rules, because they also have troubles defining their own identity and respecting authority and hierarchy.
Also boys who got picked on by others during childhood and adolescence -often sons without a father figure- try to compensate by lifting weights, to develop muscles and survive in ther male world. They re insecure because they re girly, childish, feminine having been raised by a single mom. They lift obsessively hoping it will transform them into men, to compensate for their lack of influence from a father figure that was not there. Unfortunaltey they can get as big as they can it doesnt cure their insecurity and who they truly are, how they grew up being raised by a single mom. They re no as manly as other men whatever they do, and they often have a big lack of masculine presence they dont know how to balance, hence often being borderline homosexuals while trying to get their manhood back thru various manly activities (mma, cars, weight lifting etc). They are often the ones that, in order to get respect from other males will go the steroids route to get even "bigger" attemptint to cure their insecurity , but being natural not being "enough", they still feel "too small", insecure, amongst other males. The lack of a father figure also often means they didnt have guidance to continue studies and are often working shitty manual jobs.
haha yes! I was looking for that particular comment ;D
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Houses appreciate in the long term. My first house I paid 99k for brand new over 30 years ago and now it's worth close to 400K. My next house is nearly paid off. I have about 5 years to go. If I decide to down size I will take that equity in this house and have a nice slush fund. I don't understand renting a residence or renting (leasing) a car for the long term. It's throwing your money away.
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If you want to make good money, go into something that provides essentials, such as food and shelter. Pretty much anything else we can get by without when push comes to shove.
Do people actually ever pay off their houses these days?
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Rural land is under-priced and most houses on small lots are well overpriced.
Of course I thought land was high before Covid-19, but it can only go up from here. People with $$$ will be getting out of cities and setting up second homes.
A house that you live in is generally not an investment or asset. It can inflate in price as the dolllar loses value, but that is not the same as being worth more. Obviously you have to live somewhere but the biggest benefit is that you can borrow against it.
Imagine how much prices would drop if banks only offered 10 years terms.
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suppose when you consider you would probably be paying more in rent than you would for mortgage on the same property and after 25 years of paying rent every month you have fuck all to show for it and have another 25 years or however long you live of still paying it’s not really an issue working for many years to pay off your house, you have to pay either way may as well pay for to eventually own it
yes you would just be making the landlord rich by renting.
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vince is in a bad neighborhood lots of dirty heroin zombies there and gay polygamy
::)
;D
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Be nice to your grandmother & get that shack for free ;)
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It's interesting that people spit out the usual reasons about what a great investment owning your own house is.
The usual things are:
Tax deduction
Appreciation
These reasons have been pounded into our heads by the R/E industry. We accept them as valid.
When you actually run the numbers you see how these things are not so hot. For many folks owning a home has been awful and life destroying.
People who buy at market highs get killed. Being fortunate enough to buy when the market is low is the best way but not always possible. More luck than anything else.
Owning your own home can be a great thing from a lifestyle standpoint but as an investment it's not great. Unless you get the land and house for nothing it's a luxury to own a home.
Even owning your home free and clear has costs. R/E taxes, upkeep, opportunity cost of the money tied up in the house, lack of liquidity in getting the money, lack of mobility if you have to move to change jobs.
Don't forget the time value of money and the effects of inflation on your investment.
Borrow the money out of the house? Then you owe it again and have to pay it back with interest.
Sell the house to get the money? Then where will you live? Rent again?
There are many good reasons to buy your own home but investment return is far down the list.
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Makes about as much sense as leasing a car every two years.
Imagine how much money you could save for barbeque sauce ?
Never buy anything that drives, sails or flies...
Always lease...
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We have bought and sold houses and made money each move, we now own a home worth around £230k outright, when we sell we will down size for a smaller property and we have a wad of cash to holiday with..
over the years we have probably got a return on our mortgage investments
We bought one house for £45k and sold it for £118k 6 years later
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Giant squirt guns filled with barbecue sauce ?
Haha even better, if have enough left over to pay for a prostitute with a giant cottage cheese ass to come round kwon would be in heaven
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yes you would just be making the landlord rich by renting.
Some economists disagree. They say that the return on your real estate investment is too low and that it does not keep up with inflation. My experience indicates that it has been a good investment for me. However, when I think about it, if many of us took the total monthly expense in home ownership and put that into a diversified investment the return would likely be greater. Of course, one of the costs involved would be paying rent. My conclusion is that investing in your primary residence is a good idea for most people. Buying income property may not provide you the highest returns.
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The mortgage industry is a sham. Get a $165k loan for a Porsche 911 GT3 and they’ll base it in a couple % interest for 6 years. Get a mortgage for $165k and they give you a 30 year loan where you pay more than double the initial loan value.
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Old guys like Saggy or mr.Safety Fat should go back to work.
Younger guys should relax on the beach 24/7 8)
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Old guys like Saggy or mr.Safety Fat should go back to work.
Younger guys should relax on the beach 24/7 8)
You should go to work. It would be a new experience for you. You might like making money. Then you can pay rent on your basement room at your mom's house.
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Haha even better, if have enough left over to pay for a prostitute with a giant cottage cheese ass to come round kwon would be in heaven
(https://hips.hearstapps.com/hmg-prod.s3.amazonaws.com/images/screen-shot-2017-05-25-at-6-35-25-am-1495690657.png?crop=1.00xw:0.978xh;0,0&resize=480:*)
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what do the minds of getbig think about buying houses to rent?
is it better to get into stocks or to buy a house with say a 1/3 deposit, which should clear the mortgage from the rent money in around 15 years?
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what do the minds of getbig think about buying houses to rent?
is it better to get into stocks or to buy a house with say a 1/3 deposit, which should clear the mortgage from the rent money in around 15 years?
Airbnb is the way to go if zoning laws allow for short term rentals. Many of these places start as a couple hundred dollars a night. I have a good friend who lives on Maui and has many vacation rentals that run $400 - $500 a night. Her rentals are booked year-round.
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what do the minds of getbig think about buying houses to rent?
is it better to get into stocks or to buy a house with say a 1/3 deposit, which should clear the mortgage from the rent money in around 15 years?
Which asset class do banks loan money on?
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That's one way to do it if you have the means. Many won't qualify for a 15 year mortgage loan. Banks know it limits their profit so they make it hard for many to qualify. The best part of getting a 30 year and paying it off quicker is that you have the option to suspend the monthly extra payment when you want. If Christmas is coming up you can can suspend the extra payments for a couple of months.
It’s absolutely not harder to qualify for a 15 year vs a 30... guidelines are EXACTLY the same - except that obviously with a 15 year you have a higher payment thus affecting DTI. There is plenty of money to be made on a 15 year. I am not sure where you got this idea from????
That said - a 30 year is a wise move. If you have the discipline you can pay it off just like a 15 year as all payments over the PITI go directly to principal. The added benefit with a 30 is a lower mandatory note so that if money is tight you have a lower obligation and less chance of a credit risk.
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The mortgage industry is a sham. Get a $165k loan for a Porsche 911 GT3 and they’ll base it in a couple % interest for 6 years. Get a mortgage for $165k and they give you a 30 year loan where you pay more than double the initial loan value.
You can do a 5 year mortgage. If you choose to go longer then it’s on you.
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I've owned a few houses. At the time they made sense. I knew I was going to be in one place awhile. In recent years I have rented. I like the freedom of moving if I choose to without worrying about taking a loss, If the A/C goes out, I call the landlord. Roof leaks, I call the landlord. No HOA, no property taxes. While most landlords want to roll all the fees into what they rent the house for it isn't always possible. The house I'm living in now, I know would be more expensive if I took out a loan. Landlord is eating about $400 a month. My point is that not every case is the same and while buying may make perfect financial sense for many people, it's not for everyone. In my case, if eventually I find a place I truly love and want to live for at lease 5-10 years I'll certainly consider buying but for now, it doesn't make financial sense
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The mortgage industry is a sham. Get a $165k loan for a Porsche 911 GT3 and they’ll base it in a couple % interest for 6 years. Get a mortgage for $165k and they give you a 30 year loan where you pay more than double the initial loan value.
The theory is risk.. the Porshe likely will devalue to very little in 10 years therefore the bank wants to recover it's investment while it holds value incase you default. Homes are more secure and typically, but not always increase in value. They can afford to let you pay the interest on the loan for decades.
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That's one way to do it if you have the means. Many won't qualify for a 15 year mortgage loan. Banks know it limits their profit so they make it hard for many to qualify. The best part of getting a 30 year and paying it off quicker is that you have the option to suspend the monthly extra payment when you want. If Christmas is coming up you can can suspend the extra payments for a couple of months.
I think this is good advice. The last 2 houses I bought I did a 15 year mortgage. If I buy again I will consider a 30 year and double up on the payments. It's something that does give you flexibility in the event of unforeseen circumstances and if you have financial discipline it's easy to pull off
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Where is XFACTOR's post that he already owns 3 houses outright? :D
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It’s absolutely not harder to qualify for a 15 year vs a 30... guidelines are EXACTLY the same - except that obviously with a 15 year you have a higher payment thus affecting DTI. There is plenty of money to be made on a 15 year. I am not sure where you got this idea from????
That said - a 30 year is a wise move. If you have the discipline you can pay it off just like a 15 year as all payments over the PITI go directly to principal. The added benefit with a 30 is a lower mandatory note so that if money is tight you have a lower obligation and less chance of a credit risk.
I've always gone for the 30 year mortgage and paid it off faster. Like you mentioned, it offers more flexibility. My bank does offer a lower interest rate on a 15 or 20 year mortgage. Another way to speed the payoff is to make a payment every two weeks. For people who get paid every two weeks this makes sense. This way you get two extra principal payments a year.
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Airbnb is the way to go if zoning laws allow for short term rentals. Many of these places start as a couple hundred dollars a night. I have a good friend who lives on Maui and has many vacation rentals that run $400 - $500 a night. Her rentals are booked year-round.
Airbnb is absolutely crap right now in the corona situation. No visitors.
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It's interesting that people spit out the usual reasons about what a great investment owning your own house is.
The usual things are:
Tax deduction
Appreciation
These reasons have been pounded into our heads by the R/E industry. We accept them as valid.
When you actually run the numbers you see how these things are not so hot. For many folks owning a home has been awful and life destroying.
People who buy at market highs get killed. Being fortunate enough to buy when the market is low is the best way but not always possible. More luck than anything else.
Owning your own home can be a great thing from a lifestyle standpoint but as an investment it's not great. Unless you get the land and house for nothing it's a luxury to own a home.
Even owning your home free and clear has costs. R/E taxes, upkeep, opportunity cost of the money tied up in the house, lack of liquidity in getting the money, lack of mobility if you have to move to change jobs.
Don't forget the time value of money and the effects of inflation on your investment.
Borrow the money out of the house? Then you owe it again and have to pay it back with interest.
Sell the house to get the money? Then where will you live? Rent again?
There are many good reasons to buy your own home but investment return is far down the list.
This.
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It's interesting that people spit out the usual reasons about what a great investment owning your own house is.
The usual things are:
Tax deduction
Appreciation
These reasons have been pounded into our heads by the R/E industry. We accept them as valid.
When you actually run the numbers you see how these things are not so hot. For many folks owning a home has been awful and life destroying.
People who buy at market highs get killed. Being fortunate enough to buy when the market is low is the best way but not always possible. More luck than anything else.
Owning your own home can be a great thing from a lifestyle standpoint but as an investment it's not great. Unless you get the land and house for nothing it's a luxury to own a home.
Even owning your home free and clear has costs. R/E taxes, upkeep, opportunity cost of the money tied up in the house, lack of liquidity in getting the money, lack of mobility if you have to move to change jobs.
Don't forget the time value of money and the effects of inflation on your investment.
Borrow the money out of the house? Then you owe it again and have to pay it back with interest.
Sell the house to get the money? Then where will you live? Rent again?
There are many good reasons to buy your own home but investment return is far down the list.
do you own or rent personally?
and why?
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do you own or rent personally?
and why?
I own my home.
Why own? Because you can afford the luxury of owning.
There are benefits to owning your own home:
Stability for your family
Convenience
Privacy
School district
Space for your activities (home gym)
Preferred location
Some of these same benefits can be obtained by renting however.
Is it cheaper for me to own my home or rent it?
To rent a similar home in my area would be about $2000-$2500/mo.
R/E taxes on my home are $1,000/mo. Goes up every year.
Insurance is $70/mo. Goes up every year.
Maintenance is another $250/mo. Does not include my time spent on upkeep.
Interest that would be paid on a mortgage to buy my home = $1,200/mo.
That's $2,520/mo in total costs for those items.
I have no mortgage so instead of interest expense to buy the home I have the opportunity cost of having my money tied up in my house instead of invested elsewhere at a higher return.
The market has swung wildly over the years but currently my house has appreciated 1.7 times in 22 years.
From a financial standpoint it's close to a wash.
I'm not telling people not to own a house. What I'm making evident is that it's not some golden goose egg as promoted.
For some people it's a forced saving method. They'd blow the money otherwise instead of investing it if they didn't put it into the house.
For people like that, and there are a lot of people like that, the house becomes their biggest asset.
For me, my house is not even considered part of my investment portfolio.
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I own my home.
Why own? Because you can afford the luxury of owning.
There are benefits to owning your own home:
Stability for your family
Convenience
Privacy
School district
Space for your activities (home gym)
Preferred location
Some of these same benefits can be obtained by renting however.
Is it cheaper for me to own my home or rent it?
To rent a similar home in my area would be about $2000-$2500/mo.
R/E taxes on my home are $1,000/mo. Goes up every year.
Insurance is $70/mo. Goes up every year.
Maintenance is another $250/mo. Does not include my time spent on upkeep.
Interest that would be paid on a mortgage to buy my home = $1,200/mo.
That's $2,520/mo in total costs for those items.
I have no mortgage so instead of interest expense to buy the home I have the opportunity cost of having my money tied up in my house instead of invested elsewhere at a higher return.
The market has swung wildly over the years but currently my house has appreciated 1.7 times in 22 years.
From a financial standpoint it's close to a wash.
I'm not telling people not to own a house. What I'm making evident is that it's not some golden goose egg as promoted.
For some people it's a forced saving method. They'd blow the money otherwise instead of investing it if they didn't put it into the house.
For people like that, and there are a lot of people like that, the house becomes their biggest asset.
For me, my house is not even considered part of my investment portfolio.
/thread
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Airbnb is absolutely crap right now in the corona situation. No visitors.
Yeah well, everything has gone to crap because of the corona situation. You can still book with Airbnb. https://www.nytimes.com/2020/04/16/realestate/coronavirus-short-term-rentals.html?auth=login-email&login=email
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I own my home.
Why own? Because you can afford the luxury of owning.
There are benefits to owning your own home:
Stability for your family
Convenience
Privacy
School district
Space for your activities (home gym)
Preferred location
Some of these same benefits can be obtained by renting however.
Is it cheaper for me to own my home or rent it?
To rent a similar home in my area would be about $2000-$2500/mo.
R/E taxes on my home are $1,000/mo. Goes up every year.
Insurance is $70/mo. Goes up every year.
Maintenance is another $250/mo. Does not include my time spent on upkeep.
Interest that would be paid on a mortgage to buy my home = $1,200/mo.
That's $2,520/mo in total costs for those items.
I have no mortgage so instead of interest expense to buy the home I have the opportunity cost of having my money tied up in my house instead of invested elsewhere at a higher return.
The market has swung wildly over the years but currently my house has appreciated 1.7 times in 22 years.
From a financial standpoint it's close to a wash.
I'm not telling people not to own a house. What I'm making evident is that it's not some golden goose egg as promoted.
For some people it's a forced saving method. They'd blow the money otherwise instead of investing it if they didn't put it into the house.
For people like that, and there are a lot of people like that, the house becomes their biggest asset.
For me, my house is not even considered part of my investment portfolio.
You’re skewing the numbers to try to make a weak point.
Your interest on the paid off mortgage is $0. Even if it were the full boat $1,250/month ($15,000 a year) you would get 36-38% of that back in tax refund, or lowering of your AGI.
So the numbers indicate about a $200,000 home purchased 22 years ago that is worth about $340,000 now, or so.
In 22 years of owning the home you’ve saved $100,000 in federal tax using your numbers.
You have $340,000 in equity
You have saved paying about $564,000 in rent.
You paid about $350,000 on the mortgage over 22 years.
So your house returned about 8% per year as an investment.
A rental would have cost you the $564,000 in rent + the $340,000 in lost equity.
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I own my home.
R/E taxes on my home are $1,000/mo. Goes up every year.
Where the hell do you live? $12K a year for property taxes?? I used to live in upstate NY and paid that on a house that was only valued at $250K - so I moved south and now they are $4K on a home 3X in value. You read that right.
You might want to rethink your location if you are at all concerned with investments. The 1.7X appreciation in 22 years indicates you are living in a dead state or at the very least, a crappy location.
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Where the hell do you live? $12K a year for property taxes?? I used to live in upstate NY and paid that on a house that was only valued at $250K - so I moved south and now they are $4K on a home 3X in value. You read that right.
You might want to rethink your location if you are at all concerned with investments. The 1.7X appreciation in 22 years indicates you are living in a dead state or at the very least, a crappy location.
R/E taxes in Illinois (Chicagoland area) can be 3.4 - 4.0 percent of the assessed value of the home for the year.
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So money is essentially a reflection of the value of your labor right? Do you really think the work you do for the 30 odd years it takes to fully pay off a house accurately reflects the work out into making that house? Or is the value of land and homes currently way too overvalued?The land was once owned by nobody until somebody turned up and claimed it, then you are just looking at the materials and labor needed to put it up.
some people make millions in a single stock trade. Sports stars make millions for work that is less physically demanding than many normal jobs. The world is not fair in that sense, it all comes down to supply and demand in terms of who makes a lot of money.
And then skill and luck.
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Where the hell do you live? $12K a year for property taxes?? I used to live in upstate NY and paid that on a house that was only valued at $250K - so I moved south and now they are $4K on a home 3X in value. You read that right.
You might want to rethink your location if you are at all concerned with investments. The 1.7X appreciation in 22 years indicates you are living in a dead state or at the very least, a crappy location.
If you have to ask you can't afford it.
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If you have to ask you can't afford it.
Translation- You are stuck there because of a wife, lol.
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R/E taxes in Illinois (Chicagoland area) can be 3.4 - 4.0 percent of the assessed value of the home for the year.
Just like NY. Somebody has got to pay all the union payrolls and pensions. I sold a tech company and was all set to build my dream home there when I inquired about the potential tax bill in Skaneateles, NY (a beautiful village in the Finger Lakes region). On a $750 K house they would have been... $35K a year!
Umm - no. So I moved south and bought a much bigger place for less money. With a property tax bill that is currently 0.5% of the assessed value. BTW - a lot of the people in my community are ex Chicagoans, haha.
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Where the hell do you live? $12K a year for property taxes?? I used to live in upstate NY and paid that on a house that was only valued at $250K - so I moved south and now they are $4K on a home 3X in value. You read that right.
You might want to rethink your location if you are at all concerned with investments. The 1.7X appreciation in 22 years indicates you are living in a dead state or at the very least, a crappy location.
Probably New Jersey, which has the highest property tax rates in the country at 2.47 % or $8,104 on a $327,900 median price home.
The county with the highest property tax in the country is Westchester, New York: $17,392.
At $7,860 Los Angeles has the highest property tax burden for a median priced home, which is just under $700,000 of any city in the U.S.
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Probably New Jersey, which has the highest property tax rates in the country at 2.47 % or $8,104 on a $327,900 median price home.
The county with the highest property tax in the country is Westchester, New York: $17,392.
At $7,860 Los Angeles has the highest property tax burden for a median priced home, which is just under $700,000 of any city in the U.S.
$8104 on a $327.9 K house is a bargain. My $225,000 "starter home" in upstate NY had a $9K tax bill when I sold it.
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R/E taxes are often higher in small towns in NY, NJ, etc.
Because of the low tax base they can't spread the costs out as much and they still have their own school districts, police departments, and fire plus the administrators to pay for.
The public schools are good in these states while the schools down south are generally awful.
The majority of your R/E taxes in NY and NJ goes for the school districts. Each community has it's own school district.
The employment opportunities down south are also usually lousy. You work at a low wage.
You have to make your money somewhere else and then move there. So while taxes are low, opportunity is also low.
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$8104 on a $327.9 K house is a bargain. My $225,000 "starter home" in upstate NY had a $9K tax bill when I sold it.
What county and city in Upstate NY was this in? Much of what makes up the property tax bill is at the county level and then the city adds in their cut too.
For example, $2,600 of my property tax goes to education, $2,700 to general government all of which is county tax and $1,500 goes to local operating and construction bonds which we voted on. Of course, different states get their tax revenue from different sources. Oregon gets theirs from income taxes and not property tax, (Personal income tax and corporate excise tax are the most significant components of the state General Fund, and property tax is the most significant local tax in Oregon).
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What county and city in Upstate NY was this in? Much of what makes up the property tax bill is at the county level and then the city adds in their cut too.
For example, $2,600 of my property tax goes to education, $2,700 to general government all of which is county tax and $1,500 goes to local operating and construction bonds which we voted on. Of course, different states get their tax revenue from different sources. Oregon gets theirs from income taxes and not property tax, (Personal income tax and corporate excise tax are the most significant components of the state General Fund, and property tax is the most significant local tax in Oregon).
The school taxes make up the majority of the tax bill in NY. 2/3 would be school taxes at least.
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The employment opportunities down south are also usually lousy. You work at a low wage.
You have to make your money somewhere else and then move there. So while taxes are low, opportunity is also low.
Here in Greenville, SC I even have trouble finding employees starting at $20/hr for production work. For skilled engineers we start at $60K Employment opportunities are off the chart. I have to compete with the aerospace, automotive and software industries. I’ve run a tech business since 1990, starting in NYS. Upstate NY is in economic depression. Greenville, SC is blowing up.
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What county and city in Upstate NY was this in? Much of what makes up the property tax bill is at the county level and then the city adds in their cut too.
For example, $2,600 of my property tax goes to education, $2,700 to general government all of which is county tax and $1,500 goes to local operating and construction bonds which we voted on. Of course, different states get their tax revenue from different sources. Oregon gets theirs from income taxes and not property tax, (Personal income tax and corporate excise tax are the most significant components of the state General Fund, and property tax is the most significant local tax in Oregon).
Onondaga county- where Syracuse is located. School taxes rape you. About 75% of the property tax. And the education sucks. I was on a school board- which turns out to be just a patsy for the union.
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10 Poorest states in America
https://www.roadsnacks.net/poorest-states-in-america/
After analyzing all 50 U.S. states, here are the 10 poorest states in America for 2020:
#1 - Mississippi (Photos)
New Mexico (Photos)
Louisiana (Photos)
West Virginia (Photos)
#5 - Alabama (Photos)
Kentucky (Photos)
South Carolina (Photos)
Arkansas (Photos)
Tennessee (Photos)
#10 - North Carolina (Photos)
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What county and city in Upstate NY was this in? Much of what makes up the property tax bill is at the county level and then the city adds in their cut too.
For example, $2,600 of my property tax goes to education, $2,700 to general government all of which is county tax and $1,500 goes to local operating and construction bonds which we voted on. Of course, different states get their tax revenue from different sources. Oregon gets theirs from income taxes and not property tax, (Personal income tax and corporate excise tax are the most significant components of the state General Fund, and property tax is the most significant local tax in Oregon).
Posted just like the type of soggy old queer who implies he worked for the local School District as an educator, when in fact he probably collectively bargained against the School District as a member of the custodial (janitor) union, while referring to himself as building maintenance or facilities engineer or something like that.
The soggy old deviant queer strikes me as that kind of person.
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10 Poorest states in America
https://www.roadsnacks.net/poorest-states-in-america/
After analyzing all 50 U.S. states, here are the 10 poorest states in America for 2020:
#1 - Mississippi (Photos)
New Mexico (Photos)
Louisiana (Photos)
West Virginia (Photos)
#5 - Alabama (Photos)
Kentucky (Photos)
South Carolina (Photos)
Arkansas (Photos)
Tennessee (Photos)
#10 - North Carolina (Photos)
lol- yeah, so poor in North and South Carolina. I spent most of my life in New York. As a tech sales guy I drove the state from Buffalo to Albany and NYC to Plattsburgh. Spend some time in any county north of US 90 and you'd swear you are in Appalachia, lol. BTW I was in Fishkill 4 months ago which is north of NYC and it looked like a ghost town- yet that used to be where IBM semiconductor was booming for years.
I now know SC and NC like the back of my hand. You have zero idea how explosive the growth is. But then again the Northeast is absolutely clueless about anything south of NYC haha.
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lol- yeah, so poor in North and South Carolina. I spent most of my life in New York. As a tech sales guy I drove the state from Buffalo to Albany and NYC to Plattsburgh. Spend some time in any county north of US 90 and you'd swear you are in Appalachia, lol. BTW I was in Fishkill 4 months ago which is north of NYC and it looked like a ghost town- yet that used to be where IBM semiconductor was booming for years.
I now know SC and NC like the back of my hand. You have zero idea how explosive the growth is. But then again the Northeast is absolutely clueless about anything south of NYC haha.
I wouldn’t have guessed North Carolina would be in the top ten.
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lol- yeah, so poor in North and South Carolina. I spent most of my life in New York. As a tech sales guy I drove the state from Buffalo to Albany and NYC to Plattsburgh. Spend some time in any county north of US 90 and you'd swear you are in Appalachia, lol. BTW I was in Fishkill 4 months ago which is north of NYC and it looked like a ghost town- yet that used to be where IBM semiconductor was booming for years.
I now know SC and NC like the back of my hand. You have zero idea how explosive the growth is. But then again the Northeast is absolutely clueless about anything south of NYC haha.
Check out the link. #50 is the richest and #1 is the poorest.
NY is hurting. Used to be a powerhouse but now, except for NYC, the state has been put in the toilet by liberal pols.
And check out California. Not too good as a whole except for the rich enclaves. Newsom will drive it further into the poorhouse.
(https://www.roadsnacks.net/ezoimgfmt/www.homesnacks.net/graphs/national/poorest-states-in-america.jpg?ezimgfmt=rs:833x573/rscb4/ng:webp/ngcb4)
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You’re skewing the numbers to try to make a weak point.
Your interest on the paid off mortgage is $0. Even if it were the full boat $1,250/month ($15,000 a year) you would get 36-38% of that back in tax refund, or lowering of your AGI.
So the numbers indicate about a $200,000 home purchased 22 years ago that is worth about $340,000 now, or so.
In 22 years of owning the home you’ve saved $100,000 in federal tax using your numbers.
You have $340,000 in equity
You have saved paying about $564,000 in rent.
You paid about $350,000 on the mortgage over 22 years.
So your house returned about 8% per year as an investment.
A rental would have cost you the $564,000 in rent + the $340,000 in lost equity.
Good points, JJ.
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Check out the link. #50 is the richest and #1 is the poorest.
NY is hurting. Used to be a powerhouse but now, except for NYC, the state has been put in the toilet by liberal pols.
And check out California. Not too good as a whole except for the rich enclaves. Newsom will drive it further into the poorhouse.
(https://www.roadsnacks.net/ezoimgfmt/www.homesnacks.net/graphs/national/poorest-states-in-america.jpg?ezimgfmt=rs:833x573/rscb4/ng:webp/ngcb4)
Very deceptive map that doesn't account for cost of living or one industry that carries the whole state like oil in North Dakota or banking in the Northeast. There are tons of poor people in those states.
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The cost of living is high in NJ but incomes are also high.
That's why people live there...to make a good income. The schools are excellent to for their kids. Then they retire to Florida where there's no state income tax.
But Florida is not a good place to make money. It's mostly low wage service jobs and the schools suck.
The poor states are good if you retire and bring your money with you. Raise your kids there? Not so good.
There are wealthy areas in the poor states and you can send your kids to private schools.
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Good points, JJ.
Obviously it is an oversimplification, but you got the general idea. The comparison between buying a home or rental property versus investing in the stock market can’t be done in a vacuum.
From 2008-2016 the U.S. had the Obama economy. The absolute worst economic policy disaster in history, basically a pandemic economy without the pandemic (if you don’t count his complete incompetence).
So at that time....the stock market was crap, a savings account returned zero percent interest, but a foreclosure or short sale home could be purchased for $50-$75 a square foot. So decent investment opportunities were available in real estate.
Now during the Trump economy (prior to Covid-19) both the stock market and housing market were increasing in value, so the comparison becomes a little more difficult. Granted if you look long term, neither market will continue as strong as it was under Trump. I’d imagine if you had a home that returned 8-10% over a 20 year period, you would be hard pressed to outperform that in the stock market.
YMMV....
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The cost of living is high in NJ but incomes are also high.
That's why people live there...to make a good income. The schools are excellent to for their kids. Then they retire to Florida where there's no state income tax.
But Florida is not a good place to make money. It's mostly low wage service jobs and the schools suck.
The poor states are good if you retire and bring your money with you. Raise your kids there? Not so good.
There are wealthy areas in the poor states and you can send your kids to private schools.
The problem is the wealthy leave the high taxed states for low taxes but then vote for liberal politicians who they ran from to start with.
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The problem is the wealthy leave the high taxed states for low taxes but then vote for liberal politicians who they ran from to start with.
Yes, they leave to escape the high taxes and demand all those services again where they move to.
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The school taxes make up the majority of the tax bill in NY. 2/3 would be school taxes at least.
I am not surprised. The federal department of education, sets a lot of the rules schools are required to follow and yet the feds fail to fund education which leaves it up to states, counties and cities to pick up the tab....with our state income, sales and property tax dollars, etc. Everyone is passing the buck, or in this case the invoice.
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Posted just like the type of soggy old queer who implies he worked for the local School District as an educator, when in fact he probably collectively bargained against the School District as a member of the custodial (janitor) union, while referring to himself as building maintenance or facilities engineer or something like that.
The soggy old deviant queer strikes me as that kind of person.
Or something like that. Is this you outing me? Awhile back, you did post that I was next. You are not totally accurate here, but close enough. Unlike some folks, I don't have any secrets you can expose. However, should I be warning my business associates, family and friends that a nut job might try to harass them via phone calls on on social media?
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I am not surprised. The federal department of education, sets a lot of the rules schools are required to follow and yet the feds fail to fund education which leaves it up to states, counties and cities to pick up the tab....with our state income, sales and property tax dollars, etc. Everyone is passing the buck, or in this case the invoice.
No, that has nothing to do with why NY school taxes are so high. In the mid 70's the teachers were allowed to unionize. This led to a political voting block funded by union dues that bought off a majority of politicians. School spending skyrocketed, without a concomitant rise in any metric of education achievement. Ultimately the school boards became populated with ex teachers and teacher family members. So budget and payroll increases are rubber stamped year to year.
I requested and got all records of the local school district budgets and contracts when I ran for school board. I was blown away. Average teacher with 10 years experience was making over $100K in the local elementary school. Combined with the matching pension contributions and benefits they made the equivalent of $150-160 K for working a partial year.
They have essentially bankrupted local communities. When I left NY my local school district had a $16 million yearly budget, with 1100 students. I just looked them up a few weeks ago and they were at $23 million with under 900 students. End of story.
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No, that has nothing to do with why NY school taxes are so high. In the mid 70's the teachers were allowed to unionize. This led to a political voting block funded by union dues that bought off a majority of politicians. School spending skyrocketed, without a concomitant rise in any metric of education achievement. Ultimately the school boards became populated with ex teachers and teacher family members. So budget and payroll increases are rubber stamped year to year.
I requested and got all records of the local school district budgets and contracts when I ran for school board. I was blown away. Average teacher with 10 years experience was making over $100K in the local elementary school. Combined with the matching pension contributions and benefits they made the equivalent of $150-160 K for working a partial year.
They have essentially bankrupted local communities. When I left NY my local school district had a $16 million yearly budget, with 1100 students. I just looked them up a few weeks ago and they were at $23 million with under 900 students. End of story.
Did you win a position on that district's school Board? Have you run for the school board where you moved. What state did you choose to move to and did the cost of education and property taxes factor in?
It might interest you to know that public School Districts with the least number of students spend more per student. Likewise, the smaller the school, the more percentage wise or per student it costs to operate. This is why school districts are building fewer, but larger schools. Maine, for example has loads of tiny school districts. School funding at the local level can be prohibitive, leaving some of these districts underwater.
One way to lower student and operating costs is for smaller school districts to merge with larger ones. Many times people resist the districts doing this because they simply don't want to become a part of a larger district.
In 2019, New York had the highest average teacher salary @ $85,300. In 2020 Oregon's median teacher salary is $57,671. In NY the 2020 median teacher salary is $62,130. It's important to factor in differences in cost of living. NY's is clearly higher than Oregon's
In 2016, New York spent $22,366 per student, $15,746 went for education and $6,130 went for support services. In contrast, Oregon spent $10,842 per student, $6,327 for education and $4,123 to support services. The biggest expense for all school districts is on salaries and benefits.
When you say matching pension, do you mean the district matches the amount a teacher contributes to their retirement? The way you worded it, it could be interpreted to mean the district contributed an amount that matches the teachers' wages. Many private corporations match whatever an employee contributes to their pension, usually within a limit.
Oregon school districts float bonds for construction and operating costs. These bond levies are voted on by the residents of the district. To pass, a super majority is needed. this means more then 50% of all registered voters must vote. A majority of those 50 +% is required. In other words, it isn't easy to get levies passed. Not surprisingly, neighborhoods with the highest median income are most likely to pass school bonds.
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In most locations the land the house is on is worth more that the house. One thing is true is that barring a world wide pandemic a house will appreciate tremendously in 30 years. That 200K house bought 30 years ago has a chance to double in price or more.
100% this.
What you pay for today is to have nice neighbours. The house itself is often just 1/4 of that.
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Here in north east England Houses are still cheap, I got mine even cheaper as it needed a lot of work (60k less than others in sane street at time)so don’t fall into the normal lifetime commitment to pay off house which would fucking hate. All want out of life is finish paying it off and work as little as needed through 40s and 50s would fucking hate to have massive mortgage might as well be a slave for next 25 years
Seaton sluice is cheap. Bought an ex council house. Well built. solid.
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Did you win a position on that district's school Board? Have you run for the school board where you moved. What state did you choose to move to and did the cost of education and property taxes factor in?
It might interest you to know that public School Districts with the least number of students spend more per student. Likewise, the smaller the school, the more percentage wise or per student it costs to operate. This is why school districts are building fewer, but larger schools. Maine, for example has loads of tiny school districts. School funding at the local level can be prohibitive, leaving some of these districts underwater.
One way to lower student and operating costs is for smaller school districts to merge with larger ones. Many times people resist the districts doing this because they simply don't want to become a part of a larger district.
In 2019, New York had the highest average teacher salary @ $85,300. In 2020 Oregon's median teacher salary is $57,671. In NY the 2020 median teacher salary is $62,130. It's important to factor in differences in cost of living. NY's is clearly higher than Oregon's
In 2016, New York spent $22,366 per student, $15,746 went for education and $6,130 went for support services. In contrast, Oregon spent $10,842 per student, $6,327 for education and $4,123 to support services. The biggest expense for all school districts is on salaries and benefits.
When you say matching pension, do you mean the district matches the amount a teacher contributes to their retirement? The way you worded it, it could be interpreted to mean the district contributed an amount that matches the teachers' wages. Many private corporations match whatever an employee contributes to their pension, usually within a limit.
Oregon school districts float bonds for construction and operating costs. These bond levies are voted on by the residents of the district. To pass, a super majority is needed. this means more then 50% of all registered voters must vote. A majority of those 50 +% is required. In other words, it isn't easy to get levies passed. Not surprisingly, neighborhoods with the highest median income are most likely to pass school bonds.
1) I won a position - stayed a year then moved. Being on a school board is a complete waste of time. I have extensive knowledge of financial management. These people think it grows on trees.
2) Moved to South Carolina. Taxes and climate were the only motivating factors. My property taxes dropped by 75%. Had two kids in school - both ended up going to charter schools that are very common in South Carolina. Both ended up getting college degrees here.
3) Upstate NY has a cost of living like any rural area- it is cheap. Except for property taxes which are obscene.
4) School districts in NY act as independent empires. Each has a superintendent who gets as little as $150K a year to upwards of $300K. Insane.
5) Pension contributions in my district were 100% school paid for. No teacher participation at all. Try finding that in the private sector!
6) It's a piece of cake to get a capital bond passed in NY. Simple majority of those who actually vote.
7) NY school systems do not care about cost cutting, saving overhead, or containing salaries. They grow till they go bankrupt. Hopefully that happens this year since the state of NY will be running a $15 billion deficit. It already was $6+ billion before Covid.
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Seaton sluice is cheap. Bought an ex council house. Well built. solid.
I could go for a council house as long at it got plenty of daylight, which I think can be a problem unless you have an end unit. Probably my only other issues would be the low ceilings and cutup living area. I could get used to it though. In my current home, I heat a bunch of visual space because of the vaulted ceilings. Mine is a family home with too much space should it ever be just me living here. A smaller house would probably be the way to go if I lived alone. Of course there's a charm about council houses that most houses in the states don't have and moving abroad would be a big change.
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Seaton sluice is cheap. Bought an ex council house. Well built. solid.
Nice place as well suprised at it being cheap with having be by the beach, was expecting near Whitley bay prices.
I’m just a few miles away in bedlington
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1) I won a position - stayed a year then moved. Being on a school board is a complete waste of time. I have extensive knowledge of financial management. These people think it grows on trees.
2) Moved to South Carolina. Taxes and climate were the only motivating factors. My property taxes dropped by 75%. Had two kids in school - both ended up going to charter schools that are very common in South Carolina. Both ended up getting college degrees here.
3) Upstate NY has a cost of living like any rural area- it is cheap. Except for property taxes which are obscene.
4) School districts in NY act as independent empires. Each has a superintendent who gets as little as $150K a year to upwards of $300K. Insane.
5) Pension contributions in my district were 100% school paid for. No teacher participation at all. Try finding that in the private sector!
6) It's a piece of cake to get a capital bond passed in NY. Simple majority of those who actually vote.
7) NY school systems do not care about cost cutting, saving overhead, or containing salaries. They grow till they go bankrupt. Hopefully that happens this year since the state of NY will be running a $15 billion deficit. It already was $6+ billion before Covid.
2) Did your kids go to Clemson or USC?
3) Upstate New York would be a great place to live if it weren't for the taxes. NYC controls the whole state.
7) There are thousands of NY teachers (or maybe it was NJ) that sit around all day, drink coffee, read the paper and don't have any classes or students at all. There was a segment years ago on either 20/20 or 60 Minutes about this.