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He may live within the Fairport Electric zone. Meaning the village and select parts of Perinton have very low electric bills due to having its own utility company: https://www.village.fairport.ny.us/d...ment/index.php
So, that may also play a part in his property taxes, which are actually above average/high even by NY State standards. To put this into perspective, that property tax bill is almost as much the property taxes for both my own and my parent's homes combined.
Yes, the vehicle tax is what I was referring to and as mentioned, it isn’t to say it is tit for tat, but my point is that some other states have multiple forms of property taxes besides real property taxes. Some include tangible property and other vehicles as well. This is on top of the higher home prices for similar sized homes.
Nah bro...the math still doesn't math...
In Upstate NY....you pay more per month for the same house as you do in many areas with higher housing prices.
Eventually mortgages get paid off. And even well before that happens.... as the principal balance goes down; equity/wealth goes up with each monthly payment. Taxes are there forever (and, generally speaking, increase over time). Implying that an equal or higher monthly payment for a similar house with the lower purchase price + higher taxes vs higher purchase price + lower taxes puts one in a better or (even similar) financial position...is a fallacy. The latter is absolutely a stronger position financially.
The same can be said for condos/townhomes with high HOA fees all over the country vs single detached homes. In none of those scenarios is one living situation inherently "superior" to another.... but the cost/return numbers are pretty clear.
You could combine the square footage of the two Tustin places and they would still be smaller than the 450k Ft. Lauderdale one?
This thread has nothing to do with rentals. It's what can you get for 400k in your area?
1: The OP didn’t request the price per square foot.
2: I posted the rental reference to counter your “Northeast & West Coast are more expensive” claim.
I’m always surprised how “cheap” even Bergen County in NJ can be. One acquaintance of mine, solid professional and two incomes with her husband, lives in a $300k nice enough house in CT (bought during Covid) and even Ridgewood NJ, one of the best places to live in NJ with a great school district and fancy Bergen County label, could find a beautiful Spanish Revival, built in 1952, spacious house for “only” 1.2 million. My friend lived for years and it’s right outside Manhattan.
And of course more expensive =/= better quality, as those dingy, slimy, unpleasant recently flipped houses can tell you.
We as a country are at the housing crisis, many hard working middle class people can’t afford to buy a house. The U.S median household income is $70k range when the average housing is beyond their grasp. We are privileged enough to post stuff here but I feel for many people out there who are making an honest living and just want a home of their own. “Affordability” shouldn’t be seen as a dirty word, yet here it is often used against the city/area as if it’s a badge of honor to live in an outrageously (and often time unnecessarily) expensive city when it’s the quality that matters.
In Upstate NY....you pay more per month for the same house as you do in many areas with higher housing prices.
Eventually mortgages get paid off. And even well before that happens.... as the principal balance goes down; equity/wealth goes up with each monthly payment. Taxes are there forever (and, generally speaking, increase over time). Implying that an equal or higher monthly payment for a similar house with the lower purchase price + higher taxes vs higher purchase price + lower taxes puts one in a better or (even similar) financial position...is a fallacy. The latter is absolutely a stronger position financially.
The same can be said for condos/townhomes with high HOA fees all over the country vs single detached homes. In none of those scenarios is one living situation inherently "superior" to another.... but the cost/return numbers are pretty clear.
Right, but sometimes one can't get a SFH in the area so they settle for the condo. Not familiar with how HOA fees can rise, but the cost could be nominal or irrelevant i n2050 if your home is already paid for?
Quote:
Originally Posted by achtung baby
1: The OP didn’t request the price per square foot.
2: I posted the rental reference to counter your “Northeast & West Coast are more expensive” claim.
I’m always surprised how “cheap” even Bergen County in NJ can be. One acquaintance of mine, solid professional and two incomes with her husband, lives in a $300k nice enough house in CT (bought during Covid) and even Ridgewood NJ, one of the best places to live in NJ with a great school district and fancy Bergen County label, could find a beautiful Spanish Revival, built in 1952, spacious house for “only” 1.2 million. My friend lived for years and it’s right outside Manhattan.
And of course more expensive =/= better quality, as those dingy, slimy, unpleasant recently flipped houses can tell you.
We as a country are at the housing crisis, many hard working middle class people can’t afford to buy a house. The U.S median household income is $70k range when the average housing is beyond their grasp. We are privileged enough to post stuff here but I feel for many people out there who are making an honest living and just want a home of their own. “Affordability” shouldn’t be seen as a dirty word, yet here it is often used against the city/area as if it’s a badge of honor to live in an outrageously (and often time unnecessarily) expensive city when it’s the quality that matters.
I've seen some solid pricing in some of the NJ suburbs of NYC like on Redfin. But I never looked at them in person.
As for Tustin vs lauderdale, if you're talking quality of what you posted vs what I posted, ok yea. I still like the Lauderdale place a lot better and it's a 3 br vs 1 br. More for your money, caveat being I did not look up crime and school stats.
And yep, housing crisis for sure. Ten years ago 400k was a lot of money for a house. Now, in some markets, as you can see, it doesn't get much and that stinks.
In Upstate NY....you pay more per month for the same house as you do in many areas with higher housing prices.
Eventually mortgages get paid off. And even well before that happens.... as the principal balance goes down; equity/wealth goes up with each monthly payment. Taxes are there forever (and, generally speaking, increase over time). Implying that an equal or higher monthly payment for a similar house with the lower purchase price + higher taxes vs higher purchase price + lower taxes puts one in a better or (even similar) financial position...is a fallacy. The latter is absolutely a stronger position financially.
The same can be said for condos/townhomes with high HOA fees all over the country vs single detached homes. In none of those scenarios is one living situation inherently "superior" to another.... but the cost/return numbers are pretty clear.
If that is the case, then why would the housing opportunity be higher in much of Upstate NY than many other areas when taking income and property taxes into account? https://www.nahb.org/news-and-econom...ortunity-index (Again, click on the Complete Listing by Affordability Rank section)
I'm referring to the fact that the median housing price is much lower than many areas and even in the examples given, the amount of house/property appears to be bigger just from the examples given. https://www.nar.realtor/research-and...-affordability
Taxes also are capped, deducted/written off and can be reduced via say the Enhanced STAR or other exemptions. Keep in mind that the NY you gave is actually is above the average for the area and HOAs aren't as prevalent as well.
I'm not saying one is better than the other either, but much of the data when taking income into account shows a higher housing opportunity in Upstate NY in many cases and even when taking property taxes into account is what I'm referring to.
Last edited by ckhthankgod; 01-31-2024 at 12:49 PM..
1: The OP didn’t request the price per square foot.
2: I posted the rental reference to counter your “Northeast & West Coast are more expensive” claim.
I’m always surprised how “cheap” even Bergen County in NJ can be. One acquaintance of mine, solid professional and two incomes with her husband, lives in a $300k nice enough house in CT (bought during Covid) and even Ridgewood NJ, one of the best places to live in NJ with a great school district and fancy Bergen County label, could find a beautiful Spanish Revival, built in 1952, spacious house for “only” 1.2 million. My friend lived for years and it’s right outside Manhattan.
And of course more expensive =/= better quality, as those dingy, slimy, unpleasant recently flipped houses can tell you.
We as a country are at the housing crisis, many hard working middle class people can’t afford to buy a house. The U.S median household income is $70k range when the average housing is beyond their grasp. We are privileged enough to post stuff here but I feel for many people out there who are making an honest living and just want a home of their own. “Affordability” shouldn’t be seen as a dirty word, yet here it is often used against the city/area as if it’s a badge of honor to live in an outrageously (and often time unnecessarily) expensive city when it’s the quality that matters.
To the Bergen County comment, taxes. That is why quite literally everybody my age 20-29 is ditching NNJ to places more vibrant and cheaper, like Charlotte, Austin, etc.
Ridgewood is incredibly expensive given the tax rate which can be 30%-40% of your mortgage payment.
My friends family live in the middle of Bergen County, not the fancy part, and have an assessed 500k home and the taxes are more than 20k. Hidden costs.
To the Bergen County comment, taxes. That is why quite literally everybody my age 20-29 is ditching NNJ to places more vibrant and cheaper, like Charlotte, Austin, etc.
Ridgewood is incredibly expensive given the tax rate which can be 30%-40% of your mortgage payment.
My friends family live in the middle of Bergen County, not the fancy part, and have an assessed 500k home and the taxes are more than 20k. Hidden costs.
Yes the property tax in NJ is very high.( isn’t it the highest in the country?) I feel their pain because property tax in Houston (where I have been in the past two years. We are moving to Miami by the end of the year the latest. Both areas have very high home owners’ insurance.) is quite high as well ($2000 + monthly)-coming from L.A where the “starter home” is above $1 million with no backyard and only car port, NJ has a much better relatively nice pricing, more humanly sensible (in the Californians’ eye.)-Hidden cost is real, property tax, home insurance, in L.A where we were (on the hill with high risk of bush fire.) we bought earthquake insurance as well. In states like FL and cities like Houston and NOLA your home insurance can rack up pretty high with the hurricane threat and flooding risk.
I’d live in this house in a heartbeat. It was sold for $1.4 million in 2022. This house would have been at least $3-4 million in Hancock Park in Los Angeles (famous for spacious older, well-preserved stately homes.) and I’m also quite positive this house would have been much more expensive if it were in Boston area. Or Greenwich, or Westport CT. Or Newport RI.
Struck a nerve? Don’t flatter yourself, but you showing us dumpy homes built in 1955 and townhomes proves my point that $400k buys you nothing worth having and cherry picking garbage listings to prove a point is just embarrassing.
Play this game instead, take that same $400k and look for SFHs in desirable neighborhoods and report back…
Quote:
Originally Posted by CamThomas
I feel like I struck a nerve here when that wasn't my intent. So the original question was what can 400k buy you in your area. I don't live in the SoFla area but in my research I thought it was interesting what 400k can get you, more than a cardboard box, in the SoFla area. It's very affordable, especially compared to the northeast and west coast.
As for the 7% interest rate, is that unique to Florida? Are interest rates lower in California or Nebraska?
Struck a nerve? Don’t flatter yourself, but you showing us dumpy homes built in 1955 and townhomes proves my point that $400k buys you nothing worth having and cherry picking garbage listings to prove a point is just embarrassing.
Play this game instead, take that same $400k and look for SFHs in desirable neighborhoods and report back…
Not sure what to say? The literal title is what kind of house can you buy for 400k in your city? I found an 1674 sq foot condo that looks reasonably upgraded in the Miami area. As subsequent posts has proven, that looks pretty good compared to some other parts of the country.
Not sure how that spun into interest rates and cherry picking. Also, one person's garbage is another person's treasure, no?
Desirable neighborhoods for 400k? Unfortunately that's hard to find in many areas of our nation.
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So the original question was what can 400k buy you in your area. I don't live in the SoFla area but in my research I thought it was interesting what 400k can get you, more than a cardboard box, in the SoFla area. It's very affordable, especially compared to the northeast and west coast.