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Thread: Ridiculous real estate

  1. #31
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by catherine View Post
    If you were in VT you'd have to live with them or fight with the authorities. There are laws against cutting them down just for the view in some municipalities. I think that house is awesome, but I could/would never pay a half a million for it.

    I'm feeling pretty good that I paid $164 for a house on a lake with this view 30 minutes from Burlington.

    Attachment 3441Attachment 3442
    very pretty and I don't even see a lot of trees on thst flat land. Could grow some pretty nice iris and lilies there I reckon.

  2. #32
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Tybee View Post
    I like this better in Bridgton:

    https://www.coldwellbankerhomes.com/.../pid_38068431/

    It is 265k and the HOA is 95 a month. You have a beach and a pool, tennis, and a lake and a marina.
    This place is winterized, right? I see heating apparatus. Would people live here year-round?

  3. #33
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    Yes, it is a year round house, not seasonal.

    https://www.knightshill.net/about-knights-hill

  4. #34
    Senior Member rosarugosa's Avatar
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    I know that Stephen King has a home in Bridgton, and I know 3 people from MA who have summer/lake homes in that area. I think it's a pretty nice area.

  5. #35
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    I’m starting to think that monthly payment should be the deciding factor even for people who think like we do here on the simple living forum.

    Purchase price is becoming highly dependent on timing, even from one week to the next, and interest rates are so variable as well. The economy doesn’t seem like it should support these real estate prices, but apparently it does. If the interest rate is not variable, and assuming a loan rather than a cash purchase, maybe the monthly payment is the most important factor. It’s like renting, but without the unknown risk of future rent increases.

    I never thought I would say that.
    probably right, maybe how one should see buying a car as well. I buy used cars for cash so I'm all about the car price. But my bf just bought a car with zero % down, 0 % interest, and since it's hydrogen, free fuel for 3 years which makes the car essentially free for 3 years as the monthly payment is what one pays in gas for a gas car. I've never been able to grasp debt really, I don't do it. But who has the nicer car? Not me. And who has 3 free years of a car? Not me, taking money out of savings to throw at a car. Truly none of us buy cars over about 15k total price though regardless.

    The problem with housing though is it likely costs so much more than rent, at least here, that one really is paying a VERY HIGH cost to lock in those lack of rent increases, and then it becomes a game of trying to figure out possible future rent increases or just buying if one can afford it regardless I guess.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  6. #36
    Senior Member jp1's Avatar
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    Quote Originally Posted by Tammy View Post
    Iím starting to think that monthly payment should be the deciding factor even for people who think like we do here on the simple living forum.

    Purchase price is becoming highly dependent on timing, even from one week to the next, and interest rates are so variable as well. The economy doesnít seem like it should support these real estate prices, but apparently it does. If the interest rate is not variable, and assuming a loan rather than a cash purchase, maybe the monthly payment is the most important factor. Itís like renting, but without the unknown risk of future rent increases.

    I never thought I would say that.
    That's the way we looked at it when we decided it was time to buy. Our monthly cost is going down. Since we will always have to spend money to live somewhere, whether it's rent or mortgage payments and property tax. The down payment on the purchase was just sitting in a money market account, so that's the only thing we're risking, but hopefully when we're ready to sell we'll get enough money from the sale to have made the house a prudent place to have invested that $146k.

  7. #37
    Senior Member iris lilies's Avatar
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    I’m sure I will go to my grave refusing to look at house purchases as a monthly cost.


    I do not say that I am “right “I am merely reflecting living in flyover country where we can buy places for cash.


    Everyone I know who looks at their flyover country dwelling in terms of monthly payment is, in my opinion, house poor. They would not agree though, they just consider that to be “ what everyone does.”

  8. #38
    Senior Member Teacher Terry's Avatar
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    Houses are cheap in the Midwest but property taxes are often high. I looked at Kenosha and I can get a nice house for 150k but taxes are expensive.

  9. #39
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    ďIím sure I will go to my grave refusing to look at house purchases as a monthly cost.Ē



    I could have written those words a year ago. Three things have changed in my world:

    1. We moved to Phoenix which is known for affordable housing (as least more affordable than California etc) and yet my rent was raised by 200 a month when renewing leases. Itís so unpredictable. We bought our (cheaper, older, smaller) house 3 years ago and have been paying a few thousand a month extra towards the principle. This works for us but if we had kids at home we would be paying triple to get them in a good school. Itís a tough city for families.

    2. I got covid and canít work yet. All of the sudden my retirement picture/master plan is up for grabs. We stopped paying extra to principle. I realized that we can afford our house payment for the next few decades if we are careful to save all of our extra cash along the way, in order to afford the house payment for the next 5 - 8 years until all retirement vehicles are paying us. If we keep paying extra (goal was to pay it off by 2026) the bank wonít let us stop paying monthly ... we will then force ourselves to sell the house to get at our money, by paying off debt ahead of time. Itís better to keep our savings liquid so we can make the monthly house payments. Itís half the price of rent. And low interest.

    And 3. 2020 has been such a cl*#~er f**k that nothing can be counted on anymore. I want my assets to be liquid. A house loan is no problem - I need options and liquidity.

  10. #40
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    Quote Originally Posted by Tammy View Post
    ďIím sure I will go to my grave refusing to look at house purchases as a monthly cost.Ē



    I could have written those words a year ago. Three things have changed in my world:

    1. We moved to Phoenix which is known for affordable housing (as least more affordable than California etc) and yet my rent was raised by 200 a month when renewing leases. Itís so unpredictable. We bought our (cheaper, older, smaller) house 3 years ago and have been paying a few thousand a month extra towards the principle. This works for us but if we had kids at home we would be paying triple to get them in a good school. Itís a tough city for families.

    2. I got covid and canít work yet. All of the sudden my retirement picture/master plan is up for grabs. We stopped paying extra to principle. I realized that we can afford our house payment for the next few decades if we are careful to save all of our extra cash along the way, in order to afford the house payment for the next 5 - 8 years until all retirement vehicles are paying us. If we keep paying extra (goal was to pay it off by 2026) the bank wonít let us stop paying monthly ... we will then force ourselves to sell the house to get at our money, by paying off debt ahead of time. Itís better to keep our savings liquid so we can make the monthly house payments. Itís half the price of rent. And low interest.

    And 3. 2020 has been such a cl*#~er f**k that nothing can be counted on anymore. I want my assets to be liquid. A house loan is no problem - I need options and liquidity.
    Tammy - I am so sorry to hear that you've been sick. When I see the anti-mask idiots in videos shouting at Targets and such I wonder how some people can have so little respect and consideration for others. I hope you recover and I hope are feeling better. It's been a few weeks, hasn't it? A month?

    Have you considered doing a refi cash-out? The income requirements are not as high for refi because you already hold the collateral and have a payment history. Costco.com has a program with lenders that lets you look at available rates very quickly and there is no commitment required when you talk to the approved lenders. Just a thought to alleviate some of the financial worries. The interest rates are super low right now.
    my angels riley and lucy ~ 💕

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