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Old 03-29-2012, 04:14 PM
 
Location: Maryland
174 posts, read 175,787 times
Reputation: 194

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I was looking to buy a house for around $50,000 because I am on Social Security disability and after Medicare deduction I receive $1600 per month ( my annual income is 19,700). I currently live and Maryland and the cost of living is very high. I spend 50% of my monthly income on just rent and utilities. I was browsing on zillow for houses and North Carolina had 800 in my price range throughout the state.

I moved back to Maryland from Pennsylvania to take advantage of the resources, medically, that Maryland provides. The trouble is I'm spending so much money for my necessities that I don't have the money to even try different things health perspective. I do not think spending money from my savings consistently is a wise financial move, especially if I do not return to the workforce. I have not worked since 2006.

My main criteria for buying a house would be:do they tax Social Security, general cost-of-living, and do they provide an exemption for those on disability paying their property tax. North Carolina seems to have all of these qualities and it's not that far of a drive if I want to come back to Maryland for family functions.

Since I'm still under lease in Maryland (until next Jan) and currently live in Maryland can I inquire about financing here and have it work in another state? I have read that people on Social Security disability can get mortgages. They usually have to supply their award letter and/or a letter from their doctor saying that there disability will continue for X amount of time.

It would help me greatly without going into the details of my health situation to have several hundred dollars per month to spend on alternative care and/or things not covered under Medicare. I'm also tired of moving since I have moved 11 times since 2004 and it's pointless to keep moving back and forth in a very high cost of living area, namely Maryland.

This is the site I use to determine cost of living.
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Old 03-29-2012, 04:31 PM
 
Location: Simmering in DFW
6,867 posts, read 9,967,028 times
Reputation: 6598
You might look at Peoria, Arizona. It is near Phoenix. This is a retiree destination so there are many health services available.
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Old 03-29-2012, 04:53 PM
 
Location: Maryland
174 posts, read 175,787 times
Reputation: 194
My only problem with Arizona is that it's always hot and they don't experience the different seasons. That is why I was looking at the southern states, but not too far south and the Midwest. I was originally looking at Oklahoma because overall it has the lowest cost-of-living but I'm afraid of the extreme weather (namely F5 tornadoes and large snowfall amounts, per Wikipedia).
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Old 03-29-2012, 05:01 PM
 
Location: NJ
17,580 posts, read 20,825,036 times
Reputation: 15414
I would have suggested Florida if you weren't turned off by the heat. You certainly can't argue about the medical options that are available to you there.

EDIT: You should google "best place to retire". There are tons of articles out there that would be very useful to you. Then you can search those places and see if they have housing that meets your needs.
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Old 03-29-2012, 08:31 PM
jw2
 
1,023 posts, read 862,831 times
Reputation: 1500
Red Flags In The Offer We Received

Just call me the answer man, solving two problems in one fell swoop

(not intended to be taken seriously)
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Old 03-29-2012, 08:43 PM
 
Location: southwest TN
6,728 posts, read 7,366,441 times
Reputation: 10824
For many of the reasons you are concerned with, and because you do not need a job, do not mention children therefore schools are not important, i would recommend Tennessee. In fact, it is where we looked and bought. Taxes (property) are low throughout the state, although higher in the east. Still well within your means.

You asked for:
Quote:
do they tax Social Security, general cost-of-living, and do they provide an exemption for those on disability paying their property tax.
No state income tax
cost of living - average income is $20K
I don't know about property tax exemption for disabled - but taxes are so low, it wouldn't be a huge savings.

I know of one other person here on city-data who is disabled, receiving SSD and who bought her house about 10 miles from our house. She is moved from the north east in and loving it. We are moving in September.

If you're looking for medical care, there are good facilities in Knoxville - and that would keep you within a reasonable driving distance for visiting family in MD.




Quote:
Originally Posted by sephiro499 View Post
I was looking to buy a house for around $50,000 because I am on Social Security disability and after Medicare deduction I receive $1600 per month ( my annual income is 19,700). I currently live and Maryland and the cost of living is very high. I spend 50% of my monthly income on just rent and utilities. I was browsing on zillow for houses and North Carolina had 800 in my price range throughout the state.

I moved back to Maryland from Pennsylvania to take advantage of the resources, medically, that Maryland provides. The trouble is I'm spending so much money for my necessities that I don't have the money to even try different things health perspective. I do not think spending money from my savings consistently is a wise financial move, especially if I do not return to the workforce. I have not worked since 2006.

My main criteria for buying a house would be:do they tax Social Security, general cost-of-living, and do they provide an exemption for those on disability paying their property tax. North Carolina seems to have all of these qualities and it's not that far of a drive if I want to come back to Maryland for family functions.

Since I'm still under lease in Maryland (until next Jan) and currently live in Maryland can I inquire about financing here and have it work in another state? I have read that people on Social Security disability can get mortgages. They usually have to supply their award letter and/or a letter from their doctor saying that there disability will continue for X amount of time.

It would help me greatly without going into the details of my health situation to have several hundred dollars per month to spend on alternative care and/or things not covered under Medicare. I'm also tired of moving since I have moved 11 times since 2004 and it's pointless to keep moving back and forth in a very high cost of living area, namely Maryland.

This is the site I use to determine cost of living.
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Old 03-29-2012, 09:55 PM
 
Location: East of Seattle, originally from SF Bay Area
14,537 posts, read 17,620,178 times
Reputation: 10005
Is there such a thing? That's what we paid for our first house in 1977 in CA
and it recently sold for close to $600,000 so I would stay away from the S.F. bay area. I recently discovered that there are a few places under $100,000,
in some small towns east of the Cascades in WA state.

Moderator cut: can only cite realtor.com

Last edited by SouthernBelleInUtah; 03-29-2012 at 11:30 PM..
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Old 03-29-2012, 10:00 PM
 
Location: Los Angeles area
9,226 posts, read 7,120,155 times
Reputation: 16231
I understand they're giving away houses in certain rust belt cities such as Pittsburgh and Detroit. You would have to be very cautious about Detroit, however, not to end up in a dangerous situation. This is true in every city, of course, but even more so in Detroit.
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Old 03-29-2012, 10:50 PM
 
Location: Maryland
174 posts, read 175,787 times
Reputation: 194
Quote:
Originally Posted by jw2 View Post
Red Flags In The Offer We Received

Just call me the answer man, solving two problems in one fell swoop

(not intended to be taken seriously)
I don't understand why you posted this link.

Quote:
For many of the reasons you are concerned with, and because you do not need a job, do not mention children therefore schools are not important, i would recommend Tennessee.
Yes I have also thought of Tennessee but my issue is the 9.75 sales tax and the fact that they tax groceries, which I find morally reprehensible.
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Old 03-31-2012, 10:04 AM
 
Location: NJ
17,580 posts, read 20,825,036 times
Reputation: 15414
The Most Tax-Friendly States for Retirees | Photo Gallery - Yahoo! Finance
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