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One problem with DE that not all realtors will tell you. A 2% tax when you buy a home. A 2% tax when you sell it. That would make up for years and years of no sales tax for many of us. Also a special tax when you buy a car, I think 3.75% but not sure exactly. Got to do your math anywhere. Deep Google searches until the cows come home.
Hardly.....that 2% tax buying/selling is not even close to what a NJ homeowner will pay over "years and years".....at least not for NJ homeowners whose property taxes average $8500 overall (and go up every year). On $400K home purchased in DE the sales tax would be $8000.......you could literally buy & sell the home in Delaware in 2- 3 years or so and pay less in the DE sales tax than you would pay in NJ property taxes over the same period for an equivalent home.
We stayed put and the kids all moved to various locations around the globe. I just thank God for Facetime! 🙏🏻 Our eldest daughter calls us almost every morning and we enjoy a sit-down breakfast with her and our youngest grandson. It makes our day! 😄
Love and All Good Things,
Mahrie. 🌹
My son lives not too, too far away, and we text and Skype more than see each other.
Hardly.....that 2% tax buying/selling is not even close to what a NJ homeowner will pay over "years and years".....at least not for NJ homeowners whose property taxes average $8500 overall (and go up every year). On $400K home purchased in DE the sales tax would be $8000.......you could literally buy & sell the home in Delaware in 2- 3 years or so and pay less in the DE sales tax than you would pay in NJ property taxes over the same period for an equivalent home.
You still have property taxes in DE. Also in many cases HOA fees. You have to do the math.
my plan is to do anything within my power to make sure that my children dont move far away. if that means buying them houses nearby then i will buy them houses nearby.
You are asking the wrong question. The real question is whether you want to follow your kids wherever they go. Today they are in NJ. Tomorrow, once they realize what an expensive dump this is, they might go to CA (expensive but not a dump). In five years..., I don't know, maybe Kazakhstan? Do you want to go to Kazakhstan?
Nope. Such is the way of life. I have family in SC, Texas, NH, VA, and as far away as Japan. People are going to go where they're going to go to do what they need to do.
I never planned on settling in NJ (or even the NYC area) but I've been here for 17 years now and have no plans to move because SC has zero career prospects. Nor do I want my parents to feel like they need to move up here and spend higher taxes or whatever.
You also need to consider that they might be trying to get away from family and all its encumbrances without saying so.
You are asking the wrong question. The real question is whether you want to follow your kids wherever they go. Today they are in NJ. Tomorrow, once they realize what an expensive dump this is, they might go to CA (expensive but not a dump). In five years..., I don't know, maybe Kazakhstan? Do you want to go to Kazakhstan?
How about Libya? My nephew left NJ to work for a Swiss humanitarian organization which sent him there. The zoo in Tripoli is full of human prisoners. Not pretty.
New Jersey's a dump? How much time did you spend in the Delaware Water Gap and the Pine Barrens? Let me guess. None.
You are asking the wrong question. The real question is whether you want to follow your kids wherever they go. Today they are in NJ. Tomorrow, once they realize what an expensive dump this is, they might go to CA (expensive but not a dump). In five years..., I don't know, maybe Kazakhstan? Do you want to go to Kazakhstan?
my plan is to do anything within my power to make sure that my children dont move far away. if that means buying them houses nearby then i will buy them houses nearby.
Careful, nowhere did they say it was going to be a nice house. "Here's your fixer upper!"
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