[shedav]

need affordable home....ok send me a fortune cookie....and we will trade places!! LOL.

[TriMT7]

Originally Posted by macguy

You don't have to flip the house but after living there 24 months you can put it on the market and walk with the profits tax free and do it all over again.

I just want everyone to know that you CAN get a tax free exemption for selling your house BEFORE 24 months if you move for purpose, like a job relocation, etc. I'm not sure the exact provision, but do some research and find it (or ask your tax professional or the IRS).

Originally Posted by macguy

Your idea of buying cheap essentially worthless property in undesirable areas with all due respect is nuts. Not to mention the low quality lifestyle you will be subjecting yourself to. And that is my last word on the subject, I wish you well.

I think it's nuts as well, but oh well. If you want to move to an economically depressed area, fine.... but rent and save money for a couple years! You can probably get rent on one of them big houses for a few hundred bucks or less, and be free of having to worry about taxes, etc.....but to invest in real estate in an economically depressed area with no, flat, or negative appreciation and no prospects of changing anytime soon is just not smart! You'll waste thousands in closing costs, recording fees, upkeep, etc. etc. Actually, if your house DOESN'T go up in value every year at LEAST at the rate of inflation, your investment is about as useful as socking money under your mattress!!

[Need_affordable_home]

Originally Posted by macguy

Cold can be more then you can imagine. I was in Italy and going to Austria through the Alps in the winter and my wife and I got snowed in for a short time before someone came along. This was the last patrol through the pass before they were going to close it. No one would have found our bodies for months. Anyway, we were so cold it hurt. I have heard freezing death was a pleasant way to die but I don't think so.

My hands and feet and all my joints felt like I was being pressed in a vice. I don't think I was warm for a week after that. Cold weather and snow actually scares me a little. People just take a wrong turn and end up dying. Really cold weather and snow is no joke, I hate it. I don't mind cool weather but I have no desire to live where it snows even a little.

Really hot weather kills more people. I hear stories all the time of those getting lost in the desert and dying quickly from heat and dehydration. If its cold, you can bring warm blankets and eat melted snow. People can survive longer in cold than hot.


As for a house, I am not buying one to invest in, im buying one to call home! My parents made it clear they werent interested in investing either. I told them a hundred times almost 2 years ago to sell their house and that itll go down alot in value. Guess what, it did and still dropping and they dont even care. To date they lost over $100k in their equity and may lose another $100k plus. It may be possible they will never sell it and just live the rest of their lives in that house. The property taxes arent too bad but the insurance is going up. They will cancel insurance if it keeps going up and assume all risks. If they lose the house, dad says he might have another built on the land. Wow they could run out of money that way and dad may have to go out of retirement and back to work because of this huge mistake

Tell me where I can get a house that will appreciate at least 10% because this is what we and most people are getting in capital gains from stocks and funds. Otherwise I want to buy a cheap house in a cheap but low crime location and save my money for stocks and funds. A $100k house that appreciates 4% is a loss compared to a $50k house that doesnt appreciate and $50k in stocks that appreciate 10% a year. Dont forget a more expensive house I will also lose more money in property taxes and insurance.

[bmurphy]

What if you're homeless? You don't have a "warm blanket". What if it's cold with no snow, which happens a LOT in cold climates? What do you do? Eat the ground?

Heat and cold can both easily kill you in their extremes. Cold is pretty horrible too. Don't make it sound less bad then it is.

[macguy]

Originally Posted by Need_affordable_home

Really hot weather kills more people. I hear stories all the time of those getting lost in the desert and dying quickly from heat and dehydration. If its cold, you can bring warm blankets and eat melted snow. People can survive longer in cold than hot.


As for a house, I am not buying one to invest in, im buying one to call home! My parents made it clear they werent interested in investing either. I told them a hundred times almost 2 years ago to sell their house and that itll go down alot in value. Guess what, it did and still dropping and they dont even care. To date they lost over $100k in their equity and may lose another $100k plus. It may be possible they will never sell it and just live the rest of their lives in that house. The property taxes arent too bad but the insurance is going up. They will cancel insurance if it keeps going up and assume all risks. If they lose the house, dad says he might have another built on the land. Wow they could run out of money that way and dad may have to go out of retirement and back to work because of this huge mistake

Tell me where I can get a house that will appreciate at least 10% because this is what we and most people are getting in capital gains from stocks and funds. Otherwise I want to buy a cheap house in a cheap but low crime location and save my money for stocks and funds. A $100k house that appreciates 4% is a loss compared to a $50k house that doesnt appreciate and $50k in stocks that appreciate 10% a year. Dont forget a more expensive house I will also lose more money in property taxes and insurance.

Now you are making even less sense the usual. You say in other posts you are going to pay cash for your imaginary house. So you are going to park say $50,000 in a worthless house that is not appreciating and costs you tax and upkeep. Wouldn't it be better if the house was appreciating even if only 4%? How are you going to be making 10% on your money if you just tied up all your money in the house?

[Need_affordable_home]

I would suggest you read this great thread and carefully understand the math. You will be shocked at how much sense it makes to buy a $50k house. People give me a hard time only because they dont understand the math.

http://www.city-data.com/forum/gener...k+%24100k+math

You will usually find plenty of snow in cold climates and besides you should never travel without plenty of food and juices and take a satalitte radio with you for emergencies.

[ssg II]

Originally Posted by Need_affordable_home

I would suggest you read this great thread and carefully understand the math. You will be shocked at how much sense it makes to buy a $50k house. People give me a hard time only because they dont understand the math.

http://www.city-data.com/forum/gener...k+%24100k+math

You will usually find plenty of snow in cold climates and besides you should never travel without plenty of food and juices and take a satalitte radio with you for emergencies.

This person has got to be some kind of instigator for this forum. No responsible moderator would allow this repititous inanity to be continually posted.

[macguy]

Originally Posted by Need_affordable_home

I would suggest you read this great thread and carefully understand the math. You will be shocked at how much sense it makes to buy a $50k house. People give me a hard time only because they dont understand the math.

http://www.city-data.com/forum/gener...k+%24100k+math

You will usually find plenty of snow in cold climates and besides you should never travel without plenty of food and juices and take a satalitte radio with you for emergencies.

You give away a little about yourself with some of your responses. You can't think outside of your own frame of reference which is extremely limited. Maybe I didn't have a satellite phone because it wasn't invented yet.

[moving-soon]

Originally Posted by Need_affordable_home

As I sit hear sweating, I envy the northerners! They have a nice milder climate! It is 76 outside, 84 inside! I turned the a/c on and the bill is going to add up! Not cheap, I tell ya! We pay 10 cents a square foot times ~3800 and our bill happens to be about $380 a month! It is cool in the midwest mountain states from mid 30s to high 40s. Just keep your windows closed and use a blanket and you wont be cold. No a/c, no heat needed.

The northeast has great temperatures. West virginia, a state high on my list of moving to is at 58 right now. Just perfect! Maybe not for our sweet elfyum, but for most of us it is Summers in places like WV are plesent. warm but not overly hot in the day and slightly cool at night, nothing like opening the window and enjoying a fresh breeze. Here there is nothing but warm air! So we close the window and crank up the a/c and watch our bill soar! Winters in WV arent that bad from what ive read, gets to about 20 degrees(less up in the hills/mountains) so id only need a little heat. My bills in WV would be much lower than Florida!

MUCH RATHER PAY AC THAN HEATING BILL!!! RATHER SWEAT THAN HAVE FROSTBITE!! Don't move to chicago!!! Right now we have, believe it or not, thunderstorms, then it's turning into a sleet/freezing rain...then tonite more wonderful SNOW. We are in a heatwave this week. Last few weeks it was in single digits... Ever wonder what air temp. of 10 below with a 30 below windchill feels like?? thats what we had about 3 weeks ago.. We get it all, spring beautiful!! summers get to 80-90+, autumns are nice...then the awful winters..... and the wonderful windchills from lake michigan. oh i forgot...the great lake effect snow...we got a foot and a half of snow this winter too!!! Yeah, we get 300 $$ heating bills in the coldest of winters...then we get 250 AC bills in the summer... I'LL TAKE AC/AND SWEAT!!! We will be moving down to florida soon/within the year and i cant wait. The worst part....and most expensive is clothing requirements....not only do we need spring/fall gear...but summer gear, shorts, sandles, tanks....then in winter we need subzero coats, hats, scarves, gloves, snow boots, regular boots, the worst is having somany clothes for all the seasons!!!!!!!!!!! i'll take just summer and cool--50-60 degree clothes instead of 5 dressers for all seasons!!! wish is could send you a bone chillling below zero blast of cold lake effect wind chills in excess of 30 below with air temp of 5 below----you might change your mind soon!!!!!!!!!!!!!!!!!!!

[CURT]

Originally Posted by Need_affordable_home

I would suggest you read this great thread and carefully understand the math. You will be shocked at how much sense it makes to buy a $50k house. People give me a hard time only because they dont understand the math.

http://www.city-data.com/forum/gener...k+%24100k+math

You will usually find plenty of snow in cold climates and besides you should never travel without plenty of food and juices and take a satalitte radio with you for emergencies.

people are not giving you a hard time because they don't understand the math.......it is for an entirely different reason.