Pay down mortgage or save for retirement?

[iris lily]

Catherine, check this one out:
http://www.realestateinvt.com/proper...-Road/18411365

I like the fireplace. The taxes are 4200 a year, though. Don't know how that compares with your current place. On the other hand, it is glorious Vermont (got my masters in VT).

Don't that start that New England Real Estate talk! Stop it! haha.

My favorite real estate site these days is http://www.historicprop.com/historicprop/default.aspx that shows old and very old houses for sale in New Hampshire. OMG the old houses are so fabulous.

This one for instance, only $223,000 and perfect:

http://www.historicprop.com/historic...mls_no=4324829 I LOVE the old cape style farm houses. This one is from the 1820's.

[Teacher Terry]

Redfox, I completely understand that you would not want to sell your home-especially since you won't be able to buy another. It is very important to me to own what I live in so I can decorate the way I want, etc. In fact it is one of my biggest values. I have also owned a condo at one point because I could not afford a house but I still owned it and was free to do things to it. Besides if rents keep going up as one poster said then it wouldn't be much of a gain. Also if you have pets that is definitely an issue with renting since many landlords do not want them. Many people love to garden and can't do that in an apartment either. I really wish you the best of luck in getting things taken care of .

[Yarrow]

It's so easy to make assumptions about others' choices. Your values about your "house" are yours, not mine. Your judgements about my intentions getting out of debt reflect the way you choose to live, and that's it.

There have been some interesting suggests made here, and then there has some disrespectful nastiness. I'm done sharing my financial details with this group.

I have read through this whole thread and I have not see any disrespectful nastiness - just people sharing their honest opinions, and some not sugarcoating things for you.... I mean, didn't you ask for advice on your financial situation???? And then you're angry when others don't see things exactly as you do.... You put everything out there for the world to see, then you complain. You judge and call others names on other threads here, and I see that you've deleted most of your posts here on this thread so as to make those that responded to them look like "ignorant dolts".... As a moderator I would think you would do better....

You've received some incredibly helpful advice here, and at your age being so close to retirement with your heath problems it would be beyond wise to pay close attention and get yourself out of debt. I wish you well, redfox.

[Yarrow]

And I sent you a PM, replying back to your accusatory PM that you sent me, which was totally unnecessary by the way. But anyway, you apparently need to clear space in your PM inbox to receive it - that was the message I received when I tried to send my PM to you. Just letting you know....

[catherine]

Don't that start that New England Real Estate talk! Stop it! haha.

My favorite real estate site these days is http://www.historicprop.com/historicprop/default.aspx that shows old and very old houses for sale in New Hampshire. OMG the old houses are so fabulous.

This one for instance, only $223,000 and perfect:

http://www.historicprop.com/historic...mls_no=4324829 I LOVE the old cape style farm houses. This one is from the 1820's.

Thanks for the listings, rodeosweetheart and iris lily! Yes, those Cape Cods are typically affordable and functional. I grew up in one. I love the one in NH--it's beautiful! And if it were in the location of the one in Burlington, it would be perfect! Ideally, I'd like a place to be walking distance to Burlington downtown--it's such a walkable town. My kids don't even have cars and they get around just fine. There are zipcars here if you need them.

[catherine]

Well, since redfox abandoned this thread, I don't mind hijacking it...

Another town I would like living in is Brandon, VT. It's not as big as Burlington (which, of course, is not "big"), but it is pretty walkable, and the people are great.

Look at this awesome house for $186,000!!! (BTW, my home's value is about 375,000 in Central NJ)

http://www.realtor.com/realestateand...w=6&source=web


ETA this one in Burlington. I'd give up the ability to garden etc. because it's condo living, but it's very, very walkable and right next to the great Japanese restaurant I ate at last night and 4 blocks to my son's house.

http://www.zillow.com/homedetails/4-...12616455_zpid/

[dmc]

I have read through this whole thread and I have not see any disrespectful nastiness - just people sharing their honest opinions, and some not sugarcoating things for you.... I mean, didn't you ask for advice on your financial situation???? And then you're angry when others don't see things exactly as you do.... You put everything out there for the world to see, then you complain. You judge and call others names on other threads here, and I see that you've deleted most of your posts here on this thread so as to make those that responded to them look like "ignorant dolts".... As a moderator I would think you would do better....

You've received some incredibly helpful advice here, and at your age being so close to retirement with your heath problems it would be beyond wise to pay close attention and get yourself out of debt. I wish you well, redfox.

She probably didn't like hearing the truth. That at her age and having a negative net worth, with her salary, that she basically needs to hopefully die at her desk. She is not going to be able to retire unless she can pay off the loans and start saving. Which means getting rid of the house.

[rodeosweetheart]

Well, since redfox abandoned this thread, I don't mind hijacking it...

Another town I would like living in is Brandon, VT. It's not as big as Burlington (which, of course, is not "big"), but it is pretty walkable, and the people are great.

Look at this awesome house for $186,000!!! (BTW, my home's value is about 375,000 in Central NJ)

http://www.realtor.com/realestateand...w=6&source=web


ETA this one in Burlington. I'd give up the ability to garden etc. because it's condo living, but it's very, very walkable and right next to the great Japanese restaurant I ate at last night and 4 blocks to my son's house.

http://www.zillow.com/homedetails/4-...12616455_zpid/

If it were I, I would go for the Brandon one in a heartbeat. It is GORGEOUS!!!! Plus, you have a much larger upside for it to appreciate in value, which I think it might. You also might be able to rent out an apartment in that barn--it almost looks finished. You would not have condo fees, and the 4 person condo association would freak me out a bit, if we needed repairs on anything, or assessments.

I was surprised at how high the taxes are in Burlington. ARe they better in Brandon? That's something to consider.

[iris lily]

If it were I, I would go for the Brandon one in a heartbeat. It is GORGEOUS!!!! Plus, you have a much larger upside for it to appreciate in value, which I think it might. You also might be able to rent out an apartment in that barn--it almost looks finished. You would not have condo fees, and the 4 person condo association would freak me out a bit, if we needed repairs on anything, or assessments.

I was surprised at how high the taxes are in Burlington. ARe they better in Brandon? That's something to consider.

New Hampshire is a No income tax state but Real estate taxes are pretty high. We've been talking about moving to NH and one of our friends may be moving there. But if as a retiree I have low income, then higher Real estate taxes/0 state income taxes really is not a goo deal for me. I've always been attracted to New England and New Englanders and I like the liberatarian movement in New Hampshire.

[rodeosweetheart]

" But if as a retiree I have low income, then higher Real estate taxes/0 state income taxes really is not a godo deal for me."(Iris Lily)

This is what I have been pondering the last few days. How do folks stay in their home on a fixed income with the kind of property taxes you see in Burlington and in Chicagoland area, where we used to live?
Although some places give you exemptions from parts of the taxes if you are over 65--as in NY state, where you did not pay the school tax if you were over 65, which helped a lot.

But aren't you better off in a state with higher income tax and lower property taxes upon retirement, or am I missing something?