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Yes. Our current home is around 2000 sq. ft. Plenty. Larger homes of the same build period (150-200 years old) cost FAR more because they were built to be actual mansions but their taxes are kept low on purpose so people can afford the upkeep. Beautiful homes.
Some of our children's *rude* acquaintances have asked why we don't live in a bigger house. Well, we can't afford a mansion but we can afford the sale price of these children's homes... they're new or built in the last 50 years. The tax situation is NOT the same, however. The taxes on a house only $40K more than ours (and only 200-500sq.ft. of inefficient space larger) have 4 times the taxes. The taxes alone are WELL OVER what the entire mortgage payment, including everything, would be on our home. And the costs to heat and cool them are astronomical... our old homes were built with thrift in mind. There's a reason why there are doors everywhere and at the bottoms of stairs, more windows on certain sides of the house than others, and overhangs built as they were. The kitchen was strategically placed. The bathrooms were set up a certain way to make access easy. There's no basement because there are springs in these hills and the new homes have basements because people want basements, then they have to keep replacing and maintaining sump pumps and paying for extensive cleanups because they flood anyway and destroy all of their stuff.
Sorry, not sorry. No jealousy, here. Their parents both HAVE to work to afford all this and tell me how lucky I've been to be able to stay at home for the majority of their childhood. Yeah... it wasn't luck, just different choices.
There is no reason at all to buy a big/bigger house than another person just because there is a collective delusion that you should/have to. They don't live in it, so what is it to them what you live in? Some people like tiny houses. Some like cottages. Some are more comfortable in a smaller place for many reasons. I also have seen many people moving out of large homes and renting apartments when they get older because they can't deal with the upkeep and going up and down the stairs all the time anymore etc. Many families have survived and thrived in smaller homes. The size of your home does not indicate your value as a person or how happy you can be or anything. I find larger houses just sort of make you end up buying more stuff to fill it. We had a 3 bedroom house with a huge basement and came from an apartment and ended up just filling it with all sorts of stuff. And the 3rd bedroom was never really consistently used as anything because we just didn't need it.
It's like a couch I bought about 11 years ago. I got this thing, it was about 900+ dollars and I called it the Swiss Army couch. It had two reclining seats, a pull down table in the middle, heat and massage settings, a pull out drawer in front in the middle and cup holders and storage in the arms etc. Nice, right? I ended up using the drawer and one recliner and pretty much nothing else. I learned a lot about myself through that couch. That I want a couch to sit on and lounge on that's comfortable and that's all I need. I don't need all that other stuff and it's just a waste of money.
I think we talk ourselves into thinking we "need" things we don't even end up needing/using/wanting once we have bought them.
Count me in because I could be happy with a cottage... so long as there was a large barn or shop on the property... a place to be creative and do metal working...
Cash, as in a house is for sale for $220,000 and you just take a suitcase of money to the seller and sign the papers? I know a couple of DEA agents that would be interested in that one. LOL
Wow man you seriously think people who pay cash for their homes do so with currency?
We have these things called checks, and wire transfers, etc.
Count me in because I could be happy with a cottage... so long as there was a large barn or shop on the property... a place to be creative and do metal working...
Maybe you could rent a cottage on the Isle of Wight
If it's not too dear
And this may come as a shocker...but if someone’s income is low enough to not be able to afford rent....it’s likely that person can’t afford the upfront....ongoing...and future costs of owning a home.
Actually, buying a house usually is cheaper than rent, as long as the buyer doesn't allow a realtor to talk them into "the best house they can afford". There are plenty of houses in my neighborhood with much lower monthly payments than rent.
And once the house is paid off, it's super cheap compared to rent.
That does not make any sense, and I seriously doubt if you know any DEA 'agents'.
I bought a new property a year and a half ago, I wrote a personal check for it. People do this, it is not unusual.
The farm that I live on, I bought in 2005, I wrote a check for it too.
Of course the person you were responding to was wrong and people aren't bringing suitcases full of dollar bills to a real estate closing.
But I've also never heard of anyone paying with a personal check. Bank checks and certified checks, and now, most often, wire transfers. But I can't imagine anyone accepting a personal check for a real estate transaction when there's no way of knowing whether it will clear.
When I sold my last house to a "cash" buyer, that meant seeing proof of funds before accepting the offer, and then for the closing, he wire transferred the money to the title company who then paid off the mortgage and wire transferred the balance into my bank account.
Of course the person you were responding to was wrong and people aren't bringing suitcases full of dollar bills to a real estate closing.
But I've also never heard of anyone paying with a personal check. Bank checks and certified checks, and now, most often, wire transfers. But I can't imagine anyone accepting a personal check for a real estate transaction when there's no way of knowing whether it will clear.
When I sold my last house to a "cash" buyer, that meant seeing proof of funds before accepting the offer, and then for the closing, he wire transferred the money to the title company who then paid off the mortgage and wire transferred the balance into my bank account.
Depends on the state. In my state, California, we have a three day period when funds are exchanged and everything’s done, but you can back out. If your title company is using Bank if America, and you’re using Bank of America, it’s practically the same as a wire transfer. They will know immediately if you have the funds.
I have lived where I live since the early 80s. It has always been the case that people spend 3/4 of their monthly income on rent. That's just normal here. I think the 70's was the last time most folks were spending half their income on rent, and I think you have to go back to the 50's to find them spending a quarter of their income on rent.
More recently, as rents are so very high, most folks who are single, are looking for someone to split an apartment with and share household expenses.
Maybe you could rent a cottage on the Isle of Wight
If it's not too dear
Too cold, too crowded part of the year, no StarBucks, ...
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