[121804]

That was really interesting & what so many need to hear but don't want to, so they blow it off.

"instant gratification" in the RE market is a dangerous gamble.

My parents told me the same thing about their home & how every month they also paid whatever extra they had, be it $5 or $200, toward prepaid costs & paid off the home in 22 yrs instead of 30. It wasn't the dream home they "wanted" but what they could "afford". Big difference. Now in their mid60s, they own their homes, cars & have no debt. My mom has always been a stay-at-home mom, we all went to private K-12 schools & all 3 kids have a college degree. We lived on one car, one bathroom & vacations to campgrounds in the area. Years later, I appreciate my college degree more than if my mom drove a fancy car when I was in high school or we went on cruises. As we speak, my folks are on a 12 day cruise around Italy. All paid for in cash.

It can be done here on less than $100k/yr. It takes research & the ability to tell oneself "no" on some of the most mundane things.

Too many in FL fell for the "BUT YOU CAN AFFORD that house b/c it is only $75 more a month!"...

There have been A LOT of homes we've seen that we love & many that we don't all in the same neighborhood. It comes down to what we can afford. And we made sure to choose an area in FL we could afford on my husband's salary.

[sunrico90]

I'm seriously wondering what people are spending their money on when they claim that living in FL is 'hard to make ends meet' or that you 'can't live comfortably' on less than six figures a year?

I don't believe that Florida is that expensive, at least in my case the area is affordable, secured, great community, and we have jobs that pay well. Many individuals just don't live within their means, the credit cards and loans (auto, house, home improvement, consolidation loan, student loan, etc) can not be afforded with a average salary of $30K. Also many were affected by the hurricane syndrome. Many sold their houses and made money and purchased a bigger better home. Others just got stock in a situation that is not favorable for them.

If individuals take a honest look at their financial situation they should view very easy if they are above water or under water. They need to take actions to erradicate their situation and live within their means... The ones that are doing good, keep up your plan and always continue to plan for a rainy day....