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Old 04-17-2015, 05:20 PM
8,976 posts, read 8,102,339 times
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All I am looking for is somewhere I can afford to live until I die. Maybe there is nowhere. lol
You will find something I know, as I have seen lots of people do it. One thing to consider, is looking for a Elderly/Disable set of apartments with rent subsidized. Or a Section-8 if available in the area. You may have to be on a waiting list till one came open, but in a low cost area to rent and live you would be able to live till there was an opening. You would find the rent and utilities combined in a very favorable level within your income and be nice and well cared for. There would be no children, just disabled and elderly. Way cheaper than trying to buy a home no matter how cheap it is. One town you would consider, may even have an immediate opening instead of a waiting list. This may help you select which town you live in. Google different towns, and look for senior low income apartments. Then you can check to see if they have an opening for a 2 bedroom apartment. A two bedroom or a one bedroom would both cost you the same as your housing would be based on your income not the number of bedrooms.

M3 Mitch

You are no where close to the same as the OP in circumstances. You did a lot of upgrading, and did a lot of the work and maintenance. You invested at least double the purchase price.

She is disabled, and not able to do things like you can. She and her mother would have to hire someone to do the work on the property they bought, not taking care of it as a DIYS person. Older cheap homes anywhere, need someone that can do their own work to make the feasible on a fixed lower income. It is not best for someone in the OP circumstances.

We have a nice large home, and of the 5 acres, 1 acre is lawn. Shrubs and several huge trees that have to be cared for, such as cutting out dead wood from winter kill. We have a tractor mower, but it is not something I want to do any more. Maintenance to keep the home nice, has to be done. Little things like lane which is 500 foot long from the road back to the house had to be graded and re-graveled this last fall, cost $1,200.

Cost to have housekeeper and yard work, $200 week summer, $800 month. $500 month Tax and Insurance. Plus maintenance, plus higher utilities, etc. In the end it is cheaper to rent an upscale apartment (3 bedrooms and 2 or more baths) than to keep spending those regular monthly costs. Someone else has to worry about taking care of the property, paying insurance and taxes, etc. With the advantage of several hundred thousand dollars to invest for future income.

When it comes to renting versus buying we get lots and lots of different opinions. I suspect the decision depends on the part of the country. Conditions vary widely even within a few miles. The comment about renting and trying to find a safe place can be very true. Lots of neighborhoods seem to go downhill when houses are available for rent.
You are talking big city thinking. It is different in small towns, in areas she is considering.
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Old 04-17-2015, 05:28 PM
12,705 posts, read 9,967,478 times
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Originally Posted by lovepoker View Post
Hi thx for the reply. that is why I gave the 70-85k range. I can qualify for a USDA loan with no money down. The only bills I have are the usual household ones and car insurance. Also the income is net.
The problem with no money down is that prices may fluctuate downward when you want to move and you won't be able to sell.

Since you don't sound to me like you have family reasons to want a specific place, and don't really know where you want to live, gluing yourself to one spot is something you could well regret.
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Old 04-17-2015, 05:43 PM
47 posts, read 31,114 times
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Thx again everyone. You all have given me something to think about. If I did buy something, it would be the last place I live. I hate moving. My kids are in this area for now and who knows (especially with my son who is taking IT cyber security in college and swears he's not moving out till we (me and his grandma) are able to make it) we might not need to think about it. He doesn't seem to realize we have raised him so far. LOL But he's a good boy and I really don't want my kids to worry about taking care of me. Do any of us? I have been on a section 8 waiting list for 4 years (supposedly a 5 year wait but they are only at 2007 now) so I'm not holding my breath. I really hate the idea of assistance though. Have never had it. Worked 2 nd 3 jobs to raise my kids without any assistance. I don't know about anywhere else but I wouldn't want to live anywhere around here that was income based or section 8 only. Not too good areas at all. I'd definitely check and make sure the area was right for me before I did anything. Have even thought about mobile homes but then you have ground rent and I just can't see paying that. Don't know why anyone would unless they happen to already own a mobile. Those tiny homes could work if I had somewhere to put it. hahaha they really should make new homes in lower price ranges so people with lower incomes (which there are plenty of) could buy. We have soo many 500k homes going up and I know not that many people can afford them. Even in this area. So many empty homes now, it just doesn't make sense to me to keep building, especially these homes that are so huge.
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Old 04-17-2015, 09:37 PM
8,976 posts, read 8,102,339 times
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They keep building them, because they can sell them and make a profit. In a lot of areas, that is where the market is because the buyers can afford to buy homes.

One reason they build bigger fancier homes, is that land costs so much to buy, subdivide, and put in the basics like streets, power, etc. By the time they get all that added up, they cannot afford to build a small home as it would have to be priced out of the potential market.
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Old 04-18-2015, 06:31 AM
Location: Cochise County, AZ
1,318 posts, read 834,094 times
Reputation: 2869
I'm thinking of retiring to Tucson, but in doing my research I came across a few Internet articles that may assist you in narrowing your search:
10 most affordable U.S. cities to retire - Page 8 - CBS News
America's Most Affordable Cities - Forbes

The CBS page mentions Clarksville, and the Forbes mentions both Memphis and Knoxville. So those might be a few areas to start searching.

Someone had mentioned Florida, and iirc (if I recall correctly) a few of the articles mentioned spots in Florida. Do a google search for "affordable cities 2015" if you'd like info on Florida locations.

While Tennessee does not get the amount of snow that we get in NW Indiana, this past winter has convinced me that I would much rather be somewhere where snow is very infrequent. Good luck!
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