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Can a person move to Kentucky with 20,000 dollars?
A friend of mine wants to move to Kentucky. He's on ssi and only has 20,000 dollars to his name.
He lives outside a small town in ct but he can't afford the taxes anymore and he's too proud to go into low-income housing. I was thinking about suggesting McCreary, Wolfe, Menifee, or Robertson Counties where it's rural and the cost of living is lower. What do you guys think? I know he can't afford a house but maybe he could afford some land with a shack on it that he could restore. He would be happy living in an old barn as long as it was his and his alone.
of course. there are probably hundreds of thousands of adults in KY
who do not have 20k cash, an SSI income, or either. Mobile homes
can be had for substantially less than 20k and the lot rent would be
easily covered by SSI.
I agree with Snowball7. We just moved from CT (taxes $8,000+/year on house, garage, 2 acres) to KY (taxes $1,000/year on house, garage, 215 acres.) Tell your friend to get the heck out of CT as soon as possible and come on down - he won't regret it!
I agree with Snowball7. We just moved from CT (taxes $8,000+/year on house, garage, 2 acres) to KY (taxes $1,000/year on house, garage, 215 acres.) Tell your friend to get the heck out of CT as soon as possible and come on down - he won't regret it!
Wow $8000/year!!! It's like the state pastime in ct is robbing people. I wondered why they recently passed a new tax on candy... until they legalized marijuana, they even want to make money from munchies!!! It's like they have tacticians figuring how to collect taxes the way they have generals figuring battle strategy.
Location: New Albany, Indiana (Greater Louisville)
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I have an aunt and cousins that live in suburban Philadelphia and taxes are insane. They're mortgage is paid off but they still pay $500 a month just for property taxes and insurance for a small townhouse worth less than $100k. Their schools are only marginally better than maybe Louisville and their infrastructure is no better. The hoagies are better though lol
I not a Tea Party person but I do believe that taxes need to be reasonable because high taxes hurt the poor. In Europe you pay tons of tax up front but then you don't pay for car / health insurance etc. My family there are taxed to their ears and then must pay their own insurance etc. It's the worst of both worlds.
Can a person move to Kentucky with 20,000 dollars?
A friend of mine wants to move to Kentucky. He's on ssi and only has 20,000 dollars to his name.
He lives outside a small town in ct but he can't afford the taxes anymore and he's too proud to go into low-income housing. I was thinking about suggesting McCreary, Wolfe, Menifee, or Robertson Counties where it's rural and the cost of living is lower. What do you guys think? I know he can't afford a house but maybe he could afford some land with a shack on it that he could restore. He would be happy living in an old barn as long as it was his and his alone.
Depends on whether he rents or owns. The cost of moving is much lower than $20,000 for most renters. However for owners (whether a barn, as in his case, or a house), it may be trickier. You have to account for selling costs of the old house (or barn, in his case), and then consider if there is enough equity left to cover everything, including buying a new place (if he wants to do that). Of course if he is willing to rent the new place in order to save for another purchase, then he can definitely move on $20k no problem, as long as he doesn't literally need to bring money to the table to close on the sale of the old place (equity negative or less than RE commissions).
This is interesting.... When we move, our son (29) will be moving with us. He will most likely be moving sooner than us by a few months. He will only have a little over $10,000. but his vehicle is payed off with minimal bills. A job that he is looking at in Somerset/Corbin pays 10.00 hr. Can he find an apartment to rent on that wage? His only food is Pizza. LOL. We joke with him that all he needs is a job, a house and a girlfriend and everything will be fine. He just needs something to get started with until his gun smithing hobby takes off.
To be honest, Kentucky is sort of a poor state, if you have 10,000 or 20,000 dollars...you are probably better off than many other people here, lol. The more rural areas and small towns especially are usually low on rent, etc (Louisville and Lexington can be a bit more expensive.)
This is interesting.... When we move, our son (29) will be moving with us. He will most likely be moving sooner than us by a few months. He will only have a little over $10,000. but his vehicle is payed off with minimal bills. A job that he is looking at in Somerset/Corbin pays 10.00 hr. Can he find an apartment to rent on that wage? His only food is Pizza. LOL. We joke with him that all he needs is a job, a house and a girlfriend and everything will be fine. He just needs something to get started with until his gun smithing hobby takes off.
Deadbolt, your son's hardest time, money wise, will be when he finds an apartment. Even though I haven't had to rent in a long long time, I've heard and read he could need two month's rent before he moves in. One is his deposit and the other is for his first month. Then you have all the utilities. My son found out the hard way that the deposit on utilities are higher if you rent than if you buy. I had to explain to him, that they want to make sure you're not going to slip out in the middle of the night
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