Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
$800 a year in taxes, what?? Well idk about South Carolina, but good luck trying to find $800/year taxes in Florida, Texas, or Colorado. Even <$1,000 in yearly property taxes is not the norm in "low-tax" states unless you're in an extremely rural area.
However, I'll agree that proper income in relation the high COL seems to have become a problem for some people in the NYC metro.
The myth of homeownership costing less in other places is frequently just that a myth. The cost of infrastructure, particularly in new areas, are borne by HOAs in many places. Furthermore, the cost of homeowners/flood insurance in hurricane prone areas wipes out any savings. $1800 a year in taxes/$1200 a year in HOA fees/$3000 in flood/homeowner's insurance with a $10,000 deductible is what my friend pays for her 2004 house in Murrell's Inlet -- and she can't sell it for as much as it cost her to build it. Her taxes on her home in Jamestown, NY were $4500 and $600 for homeowners -- and if her house here gets flooded, we're all in serious need of an ark!
Furthermore, when all your $200,000 gets you is a 1000 sq foot fixer up in one state and that same house costs you only $50,000 in another one, it really doesn't matter if both have $1000 tax bills. You still save on the cheaper house.
Ditto, if I could rep you again I would. People are exaggerating and fail to acknowledge that these "low tax" states have many hidden fees like very high automobile tax and HOA fees which makeup for the high income and property taxes in NYS.
High sales tax in sunbelt states is the worst IMO. Like you said, you have the choice to move to an apartment if you really can't stand NY property taxes or at the least chose a town with lower than the average NY property tax, but you can't stop buying food and personal items. Also the areas ex-pats move to in the sunbelt are car dependent, so you can't get away with not having a car and certainly would not want to have some 10 year old beater when you need to drive everywhere.
You know I''d be curious if there have been studies that have explored this issue. I know for a fact that states really praise their 'low tax' status' to get that 'retiree' draw. But in the back of my mind, I always have that old saw buzzing in my head when people tell me they made out like a bandit when they sold their house, i.e. making bucks hand over fist. We all know the bragging type.
The thing is er your bro-in-law doesn't tell you that monetary layout he's done through all the years to keep the roof over his head, i.e. taxes, repairs, incidentals, the new wing that had to be attached because the wind went the wrong way etc etc. That all seems to be in the background somewhere as the profits are tallied up. Sometimes I wonder if those from high tax states really get taken by not knowing what say are the REAL costs in moving to supposedly much 'cheaper' areas.
Status:
"Let this year be over..."
(set 20 days ago)
Location: Where my bills arrive
19,219 posts, read 17,088,442 times
Reputation: 15538
Quote:
Originally Posted by Linda_d
The myth of homeownership costing less in other places is frequently just that a myth. The cost of infrastructure, particularly in new areas, are borne by HOAs in many places. Furthermore, the cost of homeowners/flood insurance in hurricane prone areas wipes out any savings. $1800 a year in taxes/$1200 a year in HOA fees/$3000 in flood/homeowner's insurance with a $10,000 deductible is what my friend pays for her 2004 house in Murrell's Inlet -- and she can't sell it for as much as it cost her to build it. Her taxes on her home in Jamestown, NY were $4500 and $600 for homeowners -- and if her house here gets flooded, we're all in serious need of an ark!
Furthermore, when all your $200,000 gets you is a 1000 sq foot fixer up in one state and that same house costs you only $50,000 in another one, it really doesn't matter if both have $1000 tax bills. You still save on the cheaper house.
Every locale has it's pros & cons and a person relocating needs to evaluate what is in their best interest. That said this idea that HOA's are mandatory, will cost thousands a year and are the baine of ones existance are just false. Yes they do exist but you don't have to buy in a community that has one. Most provide community resources (pool. playground etc) and landscaping to the common areas. Some include trash, irrigated front yards and other ammenities for the cost. But again you don't have to buy in a community that has one.
Flood Insurance is a requirement even in NY if you live in an area that is identified on the FEMA Maps. You can't blame that as a "southern thing". As for your friend in Murrells Inlet.....lets see read my first line they made the choice to buy in the "Low Country", why do you think is has that name? She built in 2004 the height of the housing boom, guess what it collapsed everywhere except Jamestown where 50k buys you a mansion and if the posts I read are correct your income from McD's wasn't affected.
If your goal is to stay in (what most posters describe) a depressed economy and never leave than your
50k home with the low paying job will be a steal but please realise if you ever choose to leave and take up residences in most areas of the county than the profit of selling you home will probally only buy you a 1 car garage.
Last edited by VA Yankee; 08-15-2013 at 01:57 PM..
If your goal is to stay in (what most posters describe) a depressed economy and never leave than your 50k home with the low paying job will be a steal but please realise if you ever choose to leave and take up residences in most areas of the county than the profit of selling you home will probally only buy you a 1 car garage.
Where do you get this idea that all jobs are low paying in NY? Healthcare salaries are higher in NY than down south. My SO is a physician and his salary is higher here than it is in most southern states. I work in medical research and I make more money doing the same job here than I did in FL. My friend made more money as a teacher in NY than she does now in AZ. The new nanotechnology center in Albany pays high salaries and many professional jobs NYC pay very well, despite the fierce competition well. But all this aside, job pay is all about what career you have, what field you're in, and whether you have some great networking connections and skills to land a good gig rather than where you live.
Last edited by ThinkingElsewhere; 08-15-2013 at 09:38 PM..
The myth of homeownership costing less in other places is frequently just that a myth. The cost of infrastructure, particularly in new areas, are borne by HOAs in many places. Furthermore, the cost of homeowners/flood insurance in hurricane prone areas wipes out any savings. $1800 a year in taxes/$1200 a year in HOA fees/$3000 in flood/homeowner's insurance with a $10,000 deductible is what my friend pays for her 2004 house in Murrell's Inlet -- and she can't sell it for as much as it cost her to build it. Her taxes on her home in Jamestown, NY were $4500 and $600 for homeowners -- and if her house here gets flooded, we're all in serious need of an ark!
Furthermore, when all your $200,000 gets you is a 1000 sq foot fixer up in one state and that same house costs you only $50,000 in another one, it really doesn't matter if both have $1000 tax bills. You still save on the cheaper house.
The idea that the sunbelt is cheaper than NY only applies to the NYC metro. It's no brainer that the sunbelt is going to be at least 1/2 the COL of NYC being that it's the most expensive city and metro in the country. Even most of costal California is cheaper than NYC. Everyone in the NYC metro knows it's the most expensive region in the country, and are willing to live there for various reasons. The ones who can't afford it or see that there money will go further elsewhere will move. Unfortunately the income and COL ratio is becoming a problem for some downstate. This is because many finance and other corporate industries in NYC have downsized over the years. In addition, many highly skilled young professionals from other parts of the country and world have relocated to NYC, making the professional job market extremely competitive for locals.
But I also wouldn't say the sunbelt is cheaper than Upstate NY. In fact, many of the more developed areas of the sunbelt are probably more expensive even if the taxes are higher in Upstate NY (when I lived in SoFla, the COL was higher than Upstate NY). From what I've seen, Upstate NYers usually move the sunbelt for warmer weather and thinking they might have better economic opportunities (although like I said in my previous post, having a good job is mostly based on your field of work and skills these days). I will say this- if Upstate NYers are going to move, I think they'd feel more at home in Colorado than in the southern states.
Status:
"Let this year be over..."
(set 20 days ago)
Location: Where my bills arrive
19,219 posts, read 17,088,442 times
Reputation: 15538
Quote:
Originally Posted by ThinkingElsewhere
Where do you get this idea that all jobs are low paying in NY? Healthcare salaries are higher in NY than down south. My SO is a physician and his salary is higher here than it is in most southern states. I work in medical research and I make more money doing the same job here than I did in FL. My friend made more money as a teacher in NY than she does now in AZ. The new nanotechnology center in Albany pays high salaries and many professional jobs NYC pay very well, despite the fierce competition well. But all this aside, job pay is all about what career you have, what field you're in, and whether you have some great networking connections and skills to land a good gig rather than where you live.
My statements about jobs being low paying was to the other poster. Her post implies the predominance of HOA's and their high costs. She then goes on to lament on her friends situation and sums up with the advantage of having the lower value house versus higher value. My statements on her posted location are as I stated, based on what othe CD posters have stated on Jamestown, I have not been there.
Your statement show several professional career that would pay well regardless of location, come on a physician... show me one who isn't making money... Teachers and other public service postions in the NY metro are way over inflated but I am not going down that path this morning.
Finally it's not that jobs are paying low it's that their is a shortage of jobs, read what people post all the time on CD boards although I will admit the opressive tax burden placed on residents is probally the most significant burden people complain over.
Every locale has it's pros & cons and a person relocating needs to evaluate what is in their best interest. That said this idea that HOA's are mandatory, will cost thousands a year and are the baine of ones existance are just false. Yes they do exist but you don't have to buy in a community that has one. Most provide community resources (pool. playground etc) and landscaping to the common areas. Some include trash, irrigated front yards and other ammenities for the cost. But again you don't have to buy in a community that has one.
Flood Insurance is a requirement even in NY if you live in an area that is identified on the FEMA Maps. You can't blame that as a "southern thing". As for your friend in Murrells Inlet.....lets see read my first line they made the choice to buy in the "Low Country", why do you think is has that name? She built in 2004 the height of the housing boom, guess what it collapsed everywhere except Jamestown where 50k buys you a mansion and if the posts I read are correct your income from McD's wasn't affected.
If your goal is to stay in (what most posters describe) a depressed economy and never leave than your
50k home with the low paying job will be a steal but please realise if you ever choose to leave and take up residences in most areas of the county than the profit of selling you home will probally only buy you a 1 car garage.
You and I have stressed the idea that HOA's are not required in the South in probably 10+ posts. No one here will ever accept that. According to them, the South is nothing more than newly built developments, all surrounding an artificial lake. Anyone who has spent significant time down South knows that's not true, but try to convince a Northerner of that...
Your point about flood insurance is dead on. It goes by the FEMA maps. A member on this forum was recently flooded out in Upstate. Using the requirement to get flood insurance as a reason not to move down South is a silly argument. Also, homeowners insurance in the South is cheap as long as you don't live on the coast. Makes sense, right? Wait to see what homeowners insurance in Sandy ravaged areas are going to be. One of the reasons I moved away from the coast (and I was renting) was that my rent was going up drastically.
I'm very pro-Upstate. I love it there. The Upstate counties of Sullivan, Orange, Rockland, etc, I'm not a huge fan of, due to their proximity to NYC which means high prices but nothing in return. But the real Upstate, Central and Western NY, and the Capitol Region and north, is a greatly overlooked but wonderful part of this country. That said, no one is going to tell me that its cheaper to live there than it is to live in most of the South. Take a city like Rochester or Buffalo, and compare it a city equidistant from the ocean (that matters for home pricing more than anything), and compare overall cost of living to someplace in TN or KY, western NC or Upstate SC, or western VA, you WILL be living cheaper in the South.
Question is, is that part of the South better than Upstate? I would answer no, personally, because there is more culture in Upstate NY than those areas. However, considering the fact that you can live in metro Rochester, Syracuse, or Buffalo for about the same price *overall* as metros like Atlanta, Raleigh, or Charlotte, makes the case for the South pretty strong. That is reality and the population stats bear that out. As I see it:
Upstate NY: better outdoor resources
South: better major cities
Upstate NY: better small towns
South: better homes and apts
“Walking the streets of Charleston in the late afternoons of August was like walking through gauze or inhaling damaged silk.”
― Pat Conroy
This isi why decisions North and South are difficult. It's either suffering stifling summers in Charleston or dreading the the deep snows and dreary overcast Binghamton skies in winter!...;-)....
My statements about jobs being low paying was to the other poster. Her post implies the predominance of HOA's and their high costs. She then goes on to lament on her friends situation and sums up with the advantage of having the lower value house versus higher value. My statements on her posted location are as I stated, based on what othe CD posters have stated on Jamestown, I have not been there.
Your statement show several professional career that would pay well regardless of location, come on a physician... show me one who isn't making money... Teachers and other public service postions in the NY metro are way over inflated but I am not going down that path this morning.
Finally it's not that jobs are paying low it's that their is a shortage of jobs, read what people post all the time on CD boards although I will admit the opressive tax burden placed on residents is probally the most significant burden people complain over.
From what I've seen, the overall COL comparison between Upstate NY and the south is a wash. It really depends on what regions you're comparing and it usually comes down to preferences if one moves to the other, rather than COL. I used to live in West Palm Beach/Ft. Lauderdale area and the COL was higher there than it was in most of Upstate NY, even with the taxes being higher in NY. However, this is probably not the case for other southern cities.
I'll say that Upstate NY doesn't have the strongest job market, but after living in California, Colorado, SoFla I can tell you the job markets aren't necessarily stellar there either. Having more jobs doesn't necessarily mean better opportunity either. NYC has more accounting jobs, Boston has more biotech jobs, and San Francisco/Seattle have more IT jobs than Upstate, yet competition for those jobs is so utterly fierce in those areas that you're more likely to find that kind of job in Upstate NY. Nevertheless, I stand by what I say. Getting a good job depends more on what field of work you're in or what skills you have more than anything today.
“Walking the streets of Charleston in the late afternoons of August was like walking through gauze or inhaling damaged silk.”
― Pat Conroy
This isi why decisions North and South are difficult. It's either suffering stifling summers in Charleston or dreading the the deep snows and dreary overcast Binghamton skies in winter!...;-)....
Agreed and the variations in the South are pretty vast. I'd much rather spend a summer in Asheville (and even better, a summer in the Finger Lakes) than a summer in Charleston. But overall, generally speaking, most people, even those who like winter like me, prefer a less harsh and more sunny winter climate.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Teachers and other public service postions in the NY metro are way over inflated but I am not going down that path this morning.
