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Old 10-04-2011, 04:18 PM
 
Location: Near a river
16,042 posts, read 18,971,705 times
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Quote:
Originally Posted by Cattknap View Post
There are so many misconceptions about Kentucky. I was born and lived all but the last 3 years of my life in So. California. My best friend is from So. California and lives down the street from me. I frequently meet people that live here that are originally from California or other states. Kentuckians are from all over the world. Yes, there are many native Kentuckians and the ones I've met and very welcoming - some of them are my good friends.
As inviting as Prospect KY sounds, it won't make the Recommendations according to my OP (post #1) due to the affordability factor for "modest retirement income." So if you were in that income category what would you have chosen?

(I listed modest income because all these mainstream lists tout "affordability" but they do not say for whom, therefore their lists are not based in reality.)
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Old 10-04-2011, 04:45 PM
 
Location: Prospect, KY
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Quote:
Originally Posted by newenglandgirl View Post
As inviting as Prospect KY sounds, it won't make the Recommendations according to my OP (post #1) due to the affordability factor for "modest retirement income." So if you were in that income category what would you have chosen?

(I listed modest income because all these mainstream lists tout "affordability" but they do not say for whom, therefore their lists are not based in reality.)
There are so many, many wonderful communities with lovely inexpensive homes near us. many parts of Louisville, Oldham County, Henry County......there are even modestly prices homes/townhomes in Prospect.

You can buy a mansion for $600,000+ or a modest but nice home or townhome for $200,000 or less, depending on the neighborhood. If you are willing to go out in the country a bit, you can get some beautiful homes and pieces of land for very reasonable prices.

Here is a nice condo in a good area for $185,000 - perfect retirement, no-maintenance home in good condition.

http://www.semonin.com/PropertyDetai...&AgoraItems=10
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Old 10-04-2011, 05:42 PM
 
Location: Near a river
16,042 posts, read 18,971,705 times
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Quote:
Originally Posted by Cattknap View Post

Here is a nice condo in a good area for $185,000 - perfect retirement, no-maintenance home in good condition.

Semonin Realtors
Nice! I can see why it's been sold. I wonder what the property taxes and monthly condo fees are. In New England, you can get a nice condo for that price but the taxes and condo fee together can run well over $4K-5K/year.
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Old 10-04-2011, 06:00 PM
 
Location: Los Angeles area
14,018 posts, read 17,732,288 times
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Default Condo fees

Quote:
Originally Posted by newenglandgirl View Post
Nice! I can see why it's been sold. I wonder what the property taxes and monthly condo fees are. In New England, you can get a nice condo for that price but the taxes and condo fee together can run well over $4K-5K/year.
I agree it's important to look beyond the purchase price and consider such things as condo fees and property taxes. Condo fees are tied partly to the age of the complex; once the buildings are over 20 years old (give or take, of course) issues such as re-roofing, wood rot repair, electrical problems, etc. start to rear their ugly heads. A newer complex may, with a little luck, have very low fees for a number of years yet based on the lack of major mainenance required. Also, if there is a swimming pool involved, that will cost some money too.

My townhouse fees (30-year-old buildings with pool) plus my property taxes run $6,300 per year in Los Angeles County, a location that is hardly considered "affordable." If mine are that reasonable, I would guess most areas of Kentucky would be less.
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Old 10-04-2011, 06:00 PM
 
Location: Prospect, KY
5,288 posts, read 17,955,447 times
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Quote:
Originally Posted by newenglandgirl View Post
Nice! I can see why it's been sold. I wonder what the property taxes and monthly condo fees are. In New England, you can get a nice condo for that price but the taxes and condo fee together can run well over $4K-5K/year.
Condo fees are pretty inexpensive here. Taxes are a pittance of what we paid in California. I would guess that property taxes and condo fees would be well under $4000 a year. Sales tax is 6% and there is no state income tax on the first $41,110 of your retirement income. Remember - KY had the least expensive cost of living in the US for the first quarter of 2011. The quality of life is pretty amazing.
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Old 10-04-2011, 08:04 PM
 
Location: Salem,Oregon
306 posts, read 337,800 times
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Quote:
Originally Posted by Boompa View Post
WALKABILITY= you may not always be able to drive
That and affordable are the 2 on the top of my list. I include public transportation in my walkable quest, not as much for I may not be able to drive, I don't want to drive. The cost of driving adds so much to my budget as well as my waist line that to be able to do without would be a win win! Unfortunately most places where this is possible are expensive, although looking at Portland,Or it might be doable if I'm willing to live in a small apartment w/o a garden or bird feeders. There are others like Philadelphia but not sure I want to move across country just to give up driving!
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Old 10-04-2011, 08:34 PM
 
Location: Near a river
16,042 posts, read 18,971,705 times
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Quote:
Originally Posted by Cattknap View Post
Condo fees are pretty inexpensive here. Taxes are a pittance of what we paid in California. I would guess that property taxes and condo fees would be well under $4000 a year. Sales tax is 6% and there is no state income tax on the first $41,110 of your retirement income. Remember - KY had the least expensive cost of living in the US for the first quarter of 2011. The quality of life is pretty amazing.

Did you say somewhere why you chose Kentucky out of all the possibilities? (I'm always interested in why a Californian would choose to retire in the Midwest, as Curmudgeon has done).
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Old 10-04-2011, 08:40 PM
 
Location: Near a river
16,042 posts, read 18,971,705 times
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Quote:
Originally Posted by oregonbirder View Post
That and affordable are the 2 on the top of my list. I include public transportation in my walkable quest, not as much for I may not be able to drive, I don't want to drive. The cost of driving adds so much to my budget as well as my waist line that to be able to do without would be a win win! Unfortunately most places where this is possible are expensive, although looking at Portland,Or it might be doable if I'm willing to live in a small apartment w/o a garden or bird feeders. There are others like Philadelphia but not sure I want to move across country just to give up driving!

From what I know of Portland from what others have posted, and from a close friend who lives there, because of high cost of housing and rents it does not seem that Portland would be on the Recommendation list according to my OP #1. But due to walkability and public transportation there, it would be a mitigating factor to overall cost. (Same with where I live in pricey New England--I recently found an incredibly cheap house in a very upscale area that has higher taxes but I use at least a third less in car gas here than in my former location).

Perhaps we need to add to the criteria "mitigating factors." Now things are strarting to get a lot more complicated with our self-conducted survey....
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Old 10-04-2011, 09:17 PM
 
5,090 posts, read 13,544,940 times
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All places are an affordable area to retire. For you can adapt all places to yourself, not that you must adapt to the place.

You want affordable housing then buy less and live in less. In NYC people survive and sometimes live in apartments, less than 200 sq. ft. I know. I did it and there were two and sometimes three of us. Gee, I lived in a dorm room that was much less and there were two. I lived in a barracks with 40 men, that was smaller than my house--and my house is small.

You want to avoid the high cost of the car and gas then do not drive, take public transit. If you are retired then driving is not a necessity, if you choose wisely a neighborhood to live.

You want to live near a grocery and convenient walkable shopping, then move near the stores.

You want to avoid high cost of entertainment then consume the less costly of your local library or park. I do not need paid TV. I am not a fan of sports or media celebrities. Let them get their money from richer fools than I.

You want to avoid high sales tax then buy less.

You want to avoid high income tax then have less taxable income or better yet, none at all.

You want to avoid high cost for food then eat less, eat simply and avoid restaurants and cook for yourself.

The most affordable may also be the place where you are. Many of us seniors have bought into housing when it was less expensive and the place become more expensive around us. What does it matter? If your mortgage is paid and you are comfortable, then why move. Oh, taxes may rise but some of us will get senior exemptions and paying the higher taxes is much cheaper than moving. Even if you did not buy years ago, living in area for many decades gives one the knowledge of place to find a home that is less costly.

I live near Denver and it is reputed to have got costly. I do not think as much as people are lead to believe. Housing may be a little more than some areas, but not much; yet it is cheaper than some places. Groceries and the basics needs of living are the same as many other large metro areas and much less than many rural areas. Taxes are considered lower but are probably in the middle comparing the whole country.

I have no problems with affordability and I am poor. What pulls most people into more expenses is the desire to have more; one gets subject to the insane wants to have what your neighbors have accumulated and what marketing tells you that you need. I ignore all that because as I age, I want less and certainly need less.

I can live anywhere, even being poorer. I can adapt to any region. Ah, but I am happy and content where I am because it is a place I know, my home.

Livecontent

Last edited by livecontent; 10-04-2011 at 10:06 PM..
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Old 10-04-2011, 09:31 PM
 
Location: Near a river
16,042 posts, read 18,971,705 times
Reputation: 15649
Hey LC, what were your Five F's again?
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