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Old 11-15-2013, 07:37 AM
 
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America is big and wide, and for example, if you live in an area that costs too much, your struggling, and of course, if its this hard for you, your kids and grandkids will suffer even more by the time they become adults since the area you live in is going to get even more expensive.


im asking this because where i am living, its slowly creeping up, and one of my friends live in an area that is so expensive that he can never buy a home in his lifetime, unless he becomes a doctor. i mean, its bad for the next generation if he doesn't move out now.


so if it was you, would you stay knowing that you will sooner or later have to move out, or would you move?
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Old 11-15-2013, 08:17 AM
 
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It depends if I was already "in". Are you asking about transitioning from renting to owning? Your post isn't clear.

I live in Orange County California, pretty expensive. I bought our home when it was less expensive. I couldn't afford to buy my home now. But I like living here, lots of jobs, great weather, diversity, beautiful. I would just buy a home I could afford, maybe not as nice or as new or as big. I wouldn't want to live in another state or in the desert or something.
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Old 11-15-2013, 08:23 AM
 
Location: Florida
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Its not worth it to me to live in an expensive area just because of the "feel/charm." Ive got a good friend in NY that is essentially broke due to taxes, higher cost of living, nightlife, etc. I chose to stay in a low cost of living area and make the same as her. I have a 401k, house, investments outside of 401k etc. Shes broke.

While it may be fun to live in big cities (expensive) you have to realize that theres a TON of research showing that your kids' futures are 100% dependent on how much money youve set aside to educate them. If your City is pricing you out, move. Your kids will need you to have cash in the bank, not stories of how cool it was to live in a big city.

My 2 cents.
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Old 11-15-2013, 08:23 AM
 
1,020 posts, read 2,809,960 times
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Quote:
Originally Posted by Cheektowaga_Chester View Post
It depends if I was already "in". Are you asking about transitioning from renting to owning? Your post isn't clear.

I live in Orange County California, pretty expensive. I bought our home when it was less expensive. I couldn't afford to buy my home now. But I like living here, lots of jobs, great weather, diversity, beautiful. I would just buy a home I could afford, maybe not as nice or as new or as big. I wouldn't want to live in another state or in the desert or something.
well my question is more of renting or owning as a whole, and getting to a point where owning a home is impossible and renting is getting to a point where a person or family cant afford it. sooner or later that person or family will be forced out or be homeless.
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Old 11-15-2013, 10:15 AM
 
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Quote:
Originally Posted by civic94 View Post
well my question is more of renting or owning as a whole, and getting to a point where owning a home is impossible and renting is getting to a point where a person or family cant afford it. sooner or later that person or family will be forced out or be homeless.
Not sure I understand this. If you own, your costs don't typically go up (especially in California with Proposition 13) - excepting those with wacky loans which balloon at some point like a few years ago.

Renting, not sure, but do rents typically go up at a rate that pushes people out? How common is that? My guess is it is less than 2%. And if that does happen, then the demand must keep up - meaning, someone is affording to rent those homes.
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Old 11-15-2013, 10:50 AM
 
Location: 4222'55.2"N 7124'46.8"W
4,839 posts, read 9,622,728 times
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Quote:
Originally Posted by Cheektowaga_Chester View Post
Not sure I understand this. If you own, your costs don't typically go up (especially in California with Proposition 13) - excepting those with wacky loans which balloon at some point like a few years ago.

Renting, not sure, but do rents typically go up at a rate that pushes people out? How common is that? My guess is it is less than 2%. And if that does happen, then the demand must keep up - meaning, someone is affording to rent those homes.
Rents are increasing at dizzying rates in major cities throughout the nation. In Boston for example, many families have been forced out of both the city and all the immediate suburbs because rents have increased by at least 50% in the past decade, whereas salaries have been stagnant. The result is, families are forced to move to distant suburbs to afford housing.

civic94: if you live in a city that's experiencing a downtown renaissance, you have to ask yourself this: is it worth it to keep living in the city or in a nice immediate suburb? if you want to stay in the general area and really want to buy a house, you may need to move 1 hour or more away from the city.
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Old 11-15-2013, 10:56 AM
 
Location: Outer Space
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That's the plan here. I love western Washington, but if I want to buy a home, I am not going to do it here. It is too expensive for my tastes. I'm probably moving back to the Midwest in another year.
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Old 11-15-2013, 11:09 AM
 
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I moved this thread because it is relevant to General Moving, as well as financial issues. I know, one of the main reasons for my last move, was primarily financial. I literally cannot understand what is so important about living by the ocean, to sacrifice thousands of dollars a year on expensive rent. I moved to a quiet, rural area, where parking is free. Contrast that to parking that routinely costs $10 an hour, or more. There is no more money wasted on going out, because there is literally no where to go in my town. The health club membership that used to cost me upwards of $125 a month, now costs $35. I adjusted. I no longer waste money on shopping, because fashion in this town means a new pair of jeans from Wal Mart...perfectly acceptable. Boots from Boot Barn are the norm here. Expensive hair cuts? Nope. I have my hair done at a fraction of the cost.

I make about the same amount of money in a small rural town, as I did in a large metro city. I now have money for vacations, and savings. Completely worth it to me. Moving was the best thing I ever did...yes, there are some adjustments, and trade offs...I am fine with it.
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Old 11-15-2013, 11:25 AM
 
Location: UpstateNY
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One of the reasons we are leaving is the expense. We had a good time here but it's also not the place to grow older, so that's a factor as well. Where we are going will be at least 20 percent less costly to live.
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Old 11-15-2013, 11:49 AM
 
15,423 posts, read 13,423,441 times
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Quote:
Originally Posted by jasper12 View Post
I moved this thread because it is relevant to General Moving, as well as financial issues. I know, one of the main reasons for my last move, was primarily financial. I literally cannot understand what is so important about living by the ocean, to sacrifice thousands of dollars a year on expensive rent.
I pay extra for my condo with the ocean view here in Miami. I love it, one of the most satisfying places I have ever lived (and most satisfying in the US). Some people just put priotities on different things, my priority is to have a satisfying place to live.


Quote:
Originally Posted by jasper12 View Post
I moved to a quiet, rural area, where parking is free. Contrast that to parking that routinely costs $10 an hour, or more. There is no more money wasted on going out, because there is literally no where to go in my town.
I go out all of the time, it is my hobby. Money for me means nothing if I am not enjoying life. Some people just value going out and feel it is not wasitng money; entertianment is part of living. I work to make money to do things.


Quote:
Originally Posted by jasper12 View Post
The health club membership that used to cost me upwards of $125 a month, now costs $35. I adjusted. I no longer waste money on shopping, because fashion in this town means a new pair of jeans from Wal Mart...perfectly acceptable. Boots from Boot Barn are the norm here. Expensive hair cuts? Nope. I have my hair done at a fraction of the cost.
See, I could never live in an atmosphere that had such standards. I grew up in a very small town in the mid-west, hated every second of it.

Quote:
Originally Posted by jasper12 View Post
I make about the same amount of money in a small rural town, as I did in a large metro city. I now have money for vacations, and savings. Completely worth it to me. Moving was the best thing I ever did...yes, there are some adjustments, and trade offs...I am fine with it.
You would have to put a gun to my head to make me live in a rual area.
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