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Old 12-20-2006, 03:35 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,974,224 times
Reputation: 991

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Very few people make $100k, even a $100k household income is uncommon. Even if two people combined made $100k, the most house youd be able to afford was $250k because theres two mouths to feed, cloth and pay taxes on! if a single person was making $100k then yea a $300k house would be the limit(3x annual income rule)

Soooooooooo how much house can someone in Miami afford for $300k?


http://homepics.realtor.com/image3/http/southeastflorida/listings/large/006/d1124151_101.jpg (broken link)

3 Bed, 1 Bath
1,089 Sq. Ft.
0.17 Acres
"as is"


http://homepics.realtor.com/image3/http/southeastflorida/listings/large/034/m1099095_101.jpg (broken link)

3 Bed, 1 Bath
1,199 Sq. Ft.
0.12 Acres

http://homepics.realtor.com/image3/http/southeastflorida/listings/large/067/n250964_101.jpg (broken link)

4 Bed, 2 Bath
1,261 Sq. Ft.
0.18 Acres


Do any of those 3 houses above interest you? Thats how expensive Miami is!
The $200k house Elfyum bought would be worth almost $300k today!
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Old 12-20-2006, 03:55 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,974,224 times
Reputation: 991
Why not consider Port Saint Lucie instead if you really want to live in Florida? The prices are half of Miami and the houses three times nicer!

Look how much house $300k gets you in PSL!


http://homepics.realtor.com/image10/http/westpalmbeach/listings/large/065/r2723352_1.jpg (broken link)

4 Bed, 2.5 Bath
2,981 Sq. Ft.

http://homepics.realtor.com/image10/http/westpalmbeach/submit/large/000/r2705967a.jpg (broken link)

3 Bed, 2 Bath
2,357 Sq. Ft.


http://homepics.realtor.com/image10/http/westpalmbeach/submit/large/073/r2719439a.jpg (broken link)

4 Bed, 3 Bath
3,060 Sq. Ft.


http://homepics.realtor.com/image10/http/westpalmbeach/listings/large/037/r2659802_1.jpg (broken link)


4 Bed, 2.5 Bath
2,842 Sq. Ft.


Of course you can get much cheaper in Georgia and Texas. Average cost per living square feet(not total)

Miami = $220
West Palm Beach = $180
Port Saint Lucie = $140
Georgia(near Atlanta) = $90
Texas(Dallas, Houston, San Antonio) = $80

Have you looked at other states besides Florida? prices are so much more reasonable!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Old 12-20-2006, 08:27 AM
 
Location: Heartland Florida
9,324 posts, read 23,754,287 times
Reputation: 4900
Here's a question for you. Why does both husband and wife have to work? When I grew up in Miami most of my friends only had the father working, mom stayed home. Is there some reason why one person can no longer support a household? It kind of tells me that the value of our money is going down the toilet.

I reached a milestone yesterday, my commute time to the office fell below 10mph for the first time ever. People are living so far away from work now it makes you wonder why they just don't rebel and move away, as I am looking to do.
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Old 12-20-2006, 09:24 AM
 
1,271 posts, read 2,155,978 times
Reputation: 619
Quote:
Originally Posted by elfyum View Post
To the people looking to move to SOUTH FL:
Please don't let these bashers discourage you!!!
You DO NOT need as much $ as they say, & you very well might MAKE that anyway!!!
For some reason it seems like most people on these boards are in the lower income bracket.
There is NOTHING WRONG WITH THAT!!!
It just seems that no one on here can conceive of anyone being able to afford it down here!
Believe me, there are PLENTY of people doing quite well down here (& all over the world In fact! )
We make about 65k household income - & bought our house for 200k in '05.
We are doing quite well thank you.
So I guess for a 250-300k house, you WOULD need a household income of at LEAST 100k.
But that's really not that hard to do! (for those of you who seem to think that's SO much!)
For two people who have professions, that's easy!
He's an assistant manager, & I'm in an hourly hospitality position!
If we were both managers, affording 300k would be a piece of cake!!!
So it's really not as doom & gloom as everyone makes it!
Now if you have kids to pay for, or are "materialistic", you would need to be in higher positions.(career wise)
And granted, a minimum wage worker could NOT afford a house here.
But they certainly COULD rent, or possibly buy a very small condo!
Well, maybe not buy on actual minimum wage, but a bit more, yes...

There are MANY nice areas in Miami metro, Broward or Palm Beach counties!
Boca is a great choice! As are Royal Palm Beach & Wellington.
I would say Broward & Dade are more culturally diverse - which I think is wonderful!
Plantation, Weston, parts of Mirimar, Pembroke Pines, as well as Ft Lauderdale, Hollywood, Hallandale are nice!
Aventura, North Miami Beach, North Miami, Sunny Isles are nice! (And of COURSE Miami Beach! But $$$!!!)
-Though Aventura & Sunny Isles would be WAY out of your price range for a HOUSE! - but condo, yes!
Good luck & WELCOME TO BEAUTIFUL SOUTH FLORIDA!!!!!!!!!!!!
Well they deleted my original post, so I will say it again geez this place is too controlled. This time I won't be "insulting" but reality will be told as it is from the way I see it IMHO if you like. $200K won't buy you much in the way of a house here, where I live $200K might get you a fixer upper in a rough area with no control over your neighbors doings, that is junk cars on the yard, high grass and weeds, garbage and etc all over the place you get the picture. Maybe a few will be lucky and not experience this, I have not seen it, so I will say it's very rare here.

I see homes in this price range in areas like Riviera Beach, nice town just visit sometime or watch Cops on TV to see the action. If someone can buy a $200K house in Weston or Boca that is in a nice say gated area, then I want them e-mail me with the details.

I'm not "low income", I'm not trying to be cocky but I make a lot more $ then your combined income and I know of plenty of people like me, professionals that are asking all the time about affordable housing. I try to be honest and not lead them into something blind.
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Old 12-20-2006, 06:20 PM
 
Location: FL
1,318 posts, read 5,385,712 times
Reputation: 917
My POINT WAS that 65k combined aint that much & we can STILL afford it here! Also, 200k was in 2005!!! (Did you not read that?) Our house would be at least 250k now! There's NOTHING around here for 200k now except a fixer...
So I think we are saying the same thing!
Why though would you seem to think it's not affordable?!
AGAIN, (incase you didn't read my post through) IF YOU HAVE KIDS OR ARE "MATERIALISTIC" you need more $!
NAH-did YOU read EITHER of our posts? 65k is NOT alot of $!!!
He's an ASSISTANT manager, & I'm an HOURLY hospitality worker!!!
We are the blue collar workers!
If we both move up we will be easily making 100k & that's STILL not that much for two people!!!
Also-you have an unusually large appetite which was discussed in a LA thread!!!
We spend about 500$ a month (IF that!!! That probably includes gas!) on food for BOTH of us!
Obviously bills are the same! And clothes? Who buys clothes?! (See above comment about "MATERIALISTIC"!!!)
Clothes are something to cover you & keep you warm - not a Moderator cut: cut status statement!!!
If it aint ripped to shreds, WEAR it!!!
I buy clothes every few YEARS!!!!!!!! (Exception - when my Pistons win I buy t-shirts!!! )
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Old 12-20-2006, 08:42 PM
 
Location: Heartland Florida
9,324 posts, read 23,754,287 times
Reputation: 4900
Quote:
Originally Posted by elfyum View Post
My POINT WAS that 65k combined aint that much & we can STILL afford it here! Also, 200k was in 2005!!! (Did you not read that?) Our house would be at least 250k now! There's NOTHING around here for 200k now except a fixer...
So I think we are saying the same thing!
Why though would you seem to think it's not affordable?!
AGAIN, (incase you didn't read my post through) IF YOU HAVE KIDS OR ARE "MATERIALISTIC" you need more $!
NAH-did YOU read EITHER of our posts? 65k is NOT alot of $!!!
He's an ASSISTANT manager, & I'm an HOURLY hospitality worker!!!
We are the blue collar workers!
If we both move up we will be easily making 100k & that's STILL not that much for two people!!!
Also-you have an unusually large appetite which was discussed in a LA thread!!!
We spend about 500$ a month (IF that!!! That probably includes gas!) on food for BOTH of us!
Obviously bills are the same! And clothes? Who buys clothes?! (See above comment about "MATERIALISTIC"!!!)
Clothes are something to cover you & keep you warm - not a goddamn status statement!!!
If it aint ripped to shreds, WEAR it!!!
I buy clothes every few YEARS!!!!!!!! (Exception - when my Pistons win I buy t-shirts!!! )
500 a month? I spend more than double that just in PROPERTY TAXES! Add gas, utilities and car/health insurance and groceries, supplies and it goes up even more! Oh and remember I don't even have a mortgage, yet it costs me more than someone who just bought a house a couple of years ago? Something's crazy here.
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Old 12-20-2006, 10:12 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,974,224 times
Reputation: 991
Tallrick is right. Elfyum, you know I think your a sweet, smart lady but I want to let you know we have our disagreements. Well $65k is a pretty good household income. I would be very happy to make $50k on my own. Too bad id need a doctorate's degree for that or lots of luck. I want to point out almost no one can afford a house in Miami. Did you see a picture of those small, simple Miami houses that cost $300k? You can get so much more in PSL or out of state. Yes I know you like Miami and thats fine, but its not affordable for most of us! Even if someone made $100k a year, why would they get a tiny Miami house when they can get a magnificent house elsewhere?
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Old 12-20-2006, 10:44 PM
 
88 posts, read 71,374 times
Reputation: 26
Um, you don't need a doctorate for 50k.

Do you really live under a rock or something? Seriously. A doctorate MINIMUM salary is at LEAST 100k. 50k is more like a Bachelor's degree. Stop being naive, please, it's starting to get ridiculous.

AND NAH - you advise them to rent before buying, SO TAKE YOUR OWN ADVICE!!!! Don't rush to Oil City. RENT SOMEWHERE FIRST. This is not hard to process. TAKE YOUR OWN ADVICE. LISTEN TO YOURSELF.
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Old 12-21-2006, 12:50 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,974,224 times
Reputation: 991
Quote:
Originally Posted by kdm31091 View Post
Um, you don't need a doctorate for 50k.

Do you really live under a rock or something? Seriously. A doctorate MINIMUM salary is at LEAST 100k. 50k is more like a Bachelor's degree. Stop being naive, please, it's starting to get ridiculous.

AND NAH - you advise them to rent before buying, SO TAKE YOUR OWN ADVICE!!!! Don't rush to Oil City. RENT SOMEWHERE FIRST. This is not hard to process. TAKE YOUR OWN ADVICE. LISTEN TO YOURSELF.

Hello friend, I suggest you read this thread:

American Hi-tech and nurses.... watch out!


My dad has a doctorates and he never made $100k. He started at $35k before I was born and got raises(keeping up with inflation actually) till it was $70k a year. Bachelor degrees rarely pay $50k, I have a friend making $45k and she has a masters. My moms a teacher with a BA and makes $35k.
When I was taking computer classes, we had a guest speaker who said "come work for my company, we start base salaries at $35k and as high as $50k!" LOL that wont do me any good. Im too lazy to go for a doctorates and if I was doing it for the money, I would be unhappy with the job. Even those with doctorates are leaving Florida and rightfully so because they can get sooooooo much bigger and better house elsewhere.

Rent is not right for most people. It depends on the person and situation. I would only rent if some company offered me a high paying job and the rent to cost ratio was cheap. For example, someone moving to LA can make $100k a year(jobs pay very well but cost of living is very high) You will get half the salary elsewhere. The cost of a condo can be $400k for 2 bedrooms in a good low crime neighboor/area! Yet to rent that condo is only $1600-2000 a month. But in Oil city, rent isnt much cheaper but I can buy a 4 bedroom house for like $30,000! So I would never pay $450 to rent something I can buy for a fraction of what rent costs! Hey if im unhappy with Oil city, ill rent out the house I bought and laugh all the way to the bank as the tenent pays way too much! I may even consider being a landlord and buying a few houses to rent out to supplament my income.
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Old 12-21-2006, 12:52 AM
 
Location: FL
1,318 posts, read 5,385,712 times
Reputation: 917
Quote:
Originally Posted by tallrick View Post
500 a month? I spend more than double that just in PROPERTY TAXES! Add gas, utilities and car/health insurance and groceries, supplies and it goes up even more! Oh and remember I don't even have a mortgage, yet it costs me more than someone who just bought a house a couple of years ago? Something's crazy here.
I said 500 a month on FOOD!!! Mortgage/tax/ins is 1550 a month! Bills about 300 (more like 450 in the summer!!!) a month...
NAH:
By the way - store manager at Publix makes 103,900 a year!!! (Not sure if that's including the bonuses or not...) So, uh, yeah you need to work your way up, but you don't even need ANY degree!!!
Room Service server (overnight) at Ritz Carlton makes about 40k!!! (Actually probably more!!! That's what I would make at my job & which pays less hourly base pay...)
You people need to get with the FL service industry program!!!
(And they say you can't make $ that way...phfff! )
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