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I totally agree, there's no need to be rude. I cringed just a little when I saw that post. And yes, people are definitely interested in seeing some examples. At least I'm interested... and since so many of us come to this forum to learn about places to retire I suspect others are too. Beaufort is a community I know fairly little about, but would love to know more, so if you feel like adding a few details about the area to your listings, that would be even better. (And if you happen to have any photos that would be fantastic, especially photos showing details of the town so we can see what it's like to live there. Hospitals, walking paths, traffic, local beaches, libraries, typical street shots, that sort of thing.)
I am genuinely interested, too, and share such info with friends (who are not on C-D) but are considering these options, themselves.
So I really appreciate that someone would take the time to share.
Good Information. When I was younger, I lived in a Coop (Housing Cooperative) in New York City. They are the more common group ownership in the very expensive and highly selective buildings in Manhattan. Perhaps the rich know something that is better and this arrangement may be more able to to solve the problems of group ownership. They are much different than a condominium ownership as all members own a share in the total property. The current owners also have the rights to interview and reject prospective buyers in the Coop, that is denying them a share of ownership in the Corporation of this type of housing tenure.
Are these types of arrangement available all over the country for the lower income? I have never seen them here but I have not a need for housing for decades, so I would not done a thorough search.
Livecontent
Condominiums are far more popular an ownership concept than co-op's, once you get away from the Metro NYC area. We have relatively few of them in Chicago. Monthly's are more expesive because real estate taxes are included, but you get that deduction, that portion of your assessments, from your taxes each year.
Here are a few more listings in the under-$50,000 range ... for the city of Chicago:
I also see listings every month of homes that are up for auction, the opening bid is usually $1k. They sometimes sell for as low as $11k.
I have (and still am!) seriously considering the idea of buying one of these lower priced homes in Maine, and doing the necessary repairs while still living (and working) in New York. It could be a nice base for when we're on vacation, and give us a chance to see what living in Maine could be like for us. I am aware of some of the dangers in doing this. But the price makes it oh-so-tempting!
Because I still plan on working after we move (husband will be retired) I need to be near a hospital. Do you know whether some of the good deals you've seen are located within a 1/2hr drive of Bangor?
I'm willing to do the research to support my assertion--IF asked politely...
Yeah that was a bit much. I'm sorry as you did take offense.
The personal pronoun... well, it really wasn't intended to describe you personally.
Quote:
Isn't your mind made up already?
No; not really.
But I do remain skeptical (even after scanning through the examples you provided tyvm) that the laundry
list of general wonderfulness you described would all be available in one place and in that price range...
Even if most things might be there... it's certainly not without other reasons for the low price.
Twenty years ago I think it was still achievable... but not today.
---
Knowing now what else can be included under your standard I took another look locally.
Here are some samples of what $40-60,000 could get you in Winston Salem:
here's one for just $33,000 LINK
another for just $51,000 LINK
and at the full $60,000 LINK
They're all nice little houses... some are even brick.
But there are solid (and rather common) reasons they're going so low.
Last edited by MrRational; 06-15-2012 at 03:20 PM..
Ah, sorry for the misunderstanding Little Dolphin. I thought you had listings for places in your own town, which had me momentarily excited (presumably listing from your own town would be ones where you would be able to tell if it was a safe neighborhood or if the house was falling down, or whatever). Anyway, thanks for the listings--they're interesting, but we're back to the same problem: you can't tell what serious problems a house may have based on an internet listing, especially if the house is in some other city that you don't know well.
Those of you who are serious about looking for a house in this budget may want to read this thread (link at end of paragraph). It's from a poster in the Pittsburgh forum who has a passion for urban gentrification, and is also very handy. He's been searching for his dream home and this spring he thought he'd finally found it. Alas, the house did not turn out to be a good deal after all. When it went through inspection he found out it had severe structural problems that would require a huge amount of money to fix. Congratulations, AlleghenyAngel!
My point is this poster really knows his stuff. He's in a town where you can find hundreds of homes in this price range, where they brag that it may be one of the least expensive places to buy a home. He knows the local neighborhoods, and what to look for. Yet he got fooled not only by an internet listing but also by his initial impression. It's just something to think about, because I would hate to see anyone get burned by a "good deal" that isn't really one. Look carefully, VERY carefully before buying something in such a low price range. Maybe it will work out.... but maybe not.
Also, one other thing I've learned from that forum is people regularly brag about how there are homes under $50,000. Yet, when someone starts looking they end up deciding not to buy the $50K house and instead buy a place that's usually at least $30-50K more than that. Something to think about.
Yeah that was a bit much. I'm sorry as you did take offense.
The personal pronoun... well, it really wasn't intended to describe you personally.
No; not really.
But I do remain skeptical (even after scanning through the example you provided tyvm) that the laundry
list of general wonderfulness you described would all be available in one place in that price range...
Even if most things might be there... it's certainly not without other reasons for the low price.
Twenty years ago I think it was still achievable... but not today.
---
Knowing now what else can be included under your standard I took another look locally.
Here are some samples of what $40-60,000 could get you in Winston Salem.
here's one for just $33,000 LINK
another for just $51,000 LINK
and at the full $60,000 LINK
They're all nice little houses... some are even brick.
But there are solid (and rather common) reasons they're going so low.
We have that same type of situation here in Charlotte. We had a C-D member who moved here thinking he was getting a real bargain. Then reality set in. The folks on the street were thugs, and I mean - in and out of jail repeat offenders. Lots of drug trafficking from one house on the street. Noise and partying late into the night. Gun shots. All that was quite upsetting, of course, but then it got worse.
The folks next to him were evidently all on disability or welfare - who knows - and home all day. So one would think that would mean they would "watch" other properties and report any suspicious activity.
Imagine how surprised the homeowner was when he came home one day and discovered his house had been broken into - during the daylight hours - and no one had seen anything. The police said - be cautious; your neighbors may be the very ones who ripped you off.
As if all that was not bad enough . . . said homeowner came home one evening and couldn't figure out why his house was so hot. Finally, he went out to see if the heat pump was "frozen" . . . only there was no heat pump. Someone had stolen the whole unit. And not only that - they had crawled under his house and cut piping, as well.
Of course, no one in the neighborhood had seen anything.
The house looks very nice on paper.
Just sayin' . . . check out the crime for any given neighborhood very carefully and take a good look at your potential neighbors. Here in "my neck of the woods," anyway, property priced too low is probably located on crack house row or is surrounded by repeat offenders (or both).
Keeping it "real": Retiring to a $25,000 to $50,000 Condo or Home
While possible to find a trailer, bungalow or very small, older condo in the $25K-$50K range, there is somewhat a disconnect in most areas with a concurrent notion of 'keeping it real.' There is nothing 'real' about any expectation of finding any 'real' retirement satisfaction (security, comfort, convenience, transportation, ammenities, neighborhood, maintainability, repair costs, etc.) in a $25-$50K retirement location/area/dwelling!
If, for whatever reason, that is all one has, then God bless em as they struggle to 'make do.' But, if that is the best one can do by retirement age, it's probably a result of an alternative situation, not a typical version of 'reality.' (For example, I know a number of 'street people' who finally settle-in somewhere very late in life, and will never have enough resources or supportive family connections ... to do better). .... Just 'keeping it real!'
You could do this with an older condo converted from well-built 60s apartments in a really great part of Dallas between prestigious Park Cities and Lakewood near DART rail, SMU, White Rock Lake and numerous entertainment/shopping options - search 75206. It will be nearer the $50K and will need some reno. HOA may or many not include some bills.
I bought a 5 bedroom brick house with two car brick garage, recently added 200 amp elec. Gas furnance and hot water, central air, in the downtown area of a small West Virginia steel town for 36K. that is where I plan to live out my last days when the time comes.
Now, West Virginia is one of those states where I think the OP's budget is realistic. Maybe not every city in the state, but in many of them. I'd look for a town with a good hospital nearby, and a college, if possible. Morgantown, Harpers Ferry, Sheperdstown are three fun little towns to visit. I'm not sure how they are as retirement choices, but it's a place to start. (If you look at these town, think about the reality of being 80 there. Some might be great, others, like Harper's Ferry, have very steep hills and are icy in the winter--could be a problem for seniors).
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