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Old 08-14-2012, 02:22 PM
 
Location: Log "cabin" west of Bangor
5,488 posts, read 6,428,655 times
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Quote:
Originally Posted by movintime View Post
Thanks. Sorry to take thread off the topic. But by fixed income, it is just really SSDI. My g/f is on it & can maybe work, a bit, but can't affect her SSDI too much (w/ too many hrs, etc.). I'm also on Disability (& again can work some) but I'm planning here also, "only on worst case scenario of no jobs avail. in ME's job climate" & so trying to count on what we have not "potential income" (as we all know how that can go).

Ok, rent makes sense (though I so want to own) & seems better @ this time. We're not young but not retirement age or elderly, thus caught in middle & again, this is the issue. If I was 65 or even 60+, I'd settle more into an apt, I guess. If I were 20-30's, I'd save for home. You see the rub?


Thanks again for this info, as being in real estate you know your biz I bet, much better than I.
Yeah, you're in an odd spot there. If you're on fixed income and don't have a good bit of money saved up it could be tough. If you *really* want to own something there are workarounds to do it on a budget, but a lot would depend on how much you could do yourself and how much 'roughing it' you can handle...but I'm guessing that that isn't the way you'd want to do it.

But, as far as keeping money in the bank- last I looked, banks weren't paying enough interest to keep up with inflation...maybe that's changed some lately? (IDK, haven't looked recently.)
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Old 08-14-2012, 03:50 PM
 
17,159 posts, read 22,175,230 times
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Quote:
Originally Posted by movintime View Post
Thanks. Sorry to take thread off the topic. But by fixed income, it is just really SSDI. My g/f is on it & can maybe work, a bit, but can't affect her SSDI too much (w/ too many hrs, etc.). I'm also on Disability (& again can work some) but I'm planning here also, "only on worst case scenario of no jobs avail. in ME's job climate" & so trying to count on what we have not "potential income" (as we all know how that can go).

Ok, rent makes sense (though I so want to own) & seems better @ this time. We're not young but not retirement age or elderly, thus caught in middle & again, this is the issue. If I was 65 or even 60+, I'd settle more into an apt, I guess. If I were 20-30's, I'd save for home. You see the rub?


Thanks again for this info, as being in real estate you know your biz I bet, much better than I.
The agent part of me, says BUY! lots of inventory, at realistic prices, and very low interest rates, money is cheap...


but.....there's too many unknown variables for me to give you very sound advice...just tidbits..

you've also got to have some sort of peace of mind- if you rent for a while, you can always buy later, and this will give you plenty of time to look around for what you want
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Old 08-14-2012, 05:29 PM
 
3,568 posts, read 3,756,967 times
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Quote:
Originally Posted by Zymer View Post
Yeah, you're in an odd spot there. If you're on fixed income and don't have a good bit of money saved up it could be tough. If you *really* want to own something there are workarounds to do it on a budget, but a lot would depend on how much you could do yourself and how much 'roughing it' you can handle...but I'm guessing that that isn't the way you'd want to do it.

But, as far as keeping money in the bank- last I looked, banks weren't paying enough interest to keep up with inflation...maybe that's changed some lately? (IDK, haven't looked recently.)
Hey can I call you all my "Maine Men", haha.

Yes thanks I know, re: odd spots, hehe. Well, realistically we could buy & use about 35K to put down. But my worry is when things go wrong then that was savings, & now must live off only fixed income til jobs bear fruit. It isn't easy thinking of which is best. I've found places in Wash. Co. that fit budget, & can be bought, & are livable in that cash price range. It it hard to find closer to Portland, etc. which is ok by us, as we're not party types, etc. so don't need alot of entertainment options.

I want a nice farmer's mkt nearby if poss., & of course a Walmart ,& a decent grocery or 2 store to handle any other food needs. I do eat healthy, & other than my nightly glasses of cheap jug wines, haha, I'm set w/ internet, tv, or a good book. I like history (& Maritime history as well) & Maine offers so much of it too.

We're both originally from the N. east (& as Billy Joel's song said, "spent our wkends on the Jersey shore", wading into the cold Atlantic) & she's lived in PA almost all her life prior to here, & I met her there yrs ago & also I grewup in NY state as well. So I'm used to cold, snowy, hockey winters as a younger guy & thus have wanted to get back to "my type of climate yr-round w/ 4 seasons", rather than summer & more summer as our only 2 seasons since living last 10 yrs in AZ. We moved a friend here yrs ago, & I was going to finish grad school here but never went - long story. So now I figured, before we get too old to fly/drive, hehe, better consider moving after this apt lease ends early 2013.

Ok, I really love coastal ME, as who doesn't, but I know affordability is more inland, yes? That said, we never worried of money really, even younger, & always thought of ways to get decent deals if you look around whether for cars or whatever needed to buy.

I mostly need to save $ for some good ME lobster, no? I do admire/envy anyone who's worked that hard to earn 800K to buy a home with. I commend anyone who can do that still in today's mkt/economy. After living in AZ these yrs it is filled w/ transients, more so than even when we got here, & makes uncomfortable w/ daily living as begging, etc. is rampant. Let's not even mention crime rates/property crimes, etc. going up throughout the desert S. west. I don't know why anyone would choose to stay live here, yet my older roommate is now over 65 & retired, & thus likes the heat in winterm & will remain here. I'm, thankfully, still young enough to enjoy a walk in brisk air whereas -- he'd rather watch Netflix for exercise on his laptop.

Ok, send me a DM if anyone has ideas on housing vs renting options fitting our budget/bill. I appreciate all the fine folks making up this ME forum as you are all helpful in your own way, & inspire us to be thankful we can move, regardless whether we rent or buy upon arrival for the 1st few yrs back east (home, as I'd like to refer to it).
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