[Muggy]

INTO buying a house
1. Some foreclosures are very tempting
2. Starting a family
3. Have solid careers here
4. It's Florida

OUT of buying a house
1. May move back to NY to be closer to family
2. May move overseas
3. Crazy tax scheme
4. Insurance
5. It's Floreedduh! Flarda! Flawda!

[faithfulFrank]

Well, only you know the answer......

It seems that the three biggest compliants I read here, (and only here) about Florida are
1) Poor job outlook
2) It gets hot
3) A week after they warn you a hurricane is coming, sometimes they do.

A) You say you have the job thing set....many here would love to say that it seems.

B) You are one of the few here that have not complained about the heat or the hurricanes.

As to NY, I've lived here for most all of my 50 years, and I do have a good job here. We do have change of seasons. Living outside of Buffalo, WE GET A LOT OF SNOW AND COLD....for MONTHS.....I know there are those here that want that, but after 50 years, I'm ready to move to Florida big time.

We have the highest taxes in the country. More people LEAVE New York state then move there. There is plenty of good and bad with both states....follow your heart. Life is too short to live where you may not want to.

Frank D.

[heydade]

I would be in New York in a hearbeat if work didn't keep me here..but that's just my .02 cents

[121804]

Solid careers.

In today's world, and especially with recent economic activity, that is a blessing to be able to say.

In the future when you do start a family, you will be able to further assess whether or not you want to be nearer to them.

But at this time, I'd stay where you are. You are able to pay your bills & you enjoy it to an extent.

From what you write, I don't suggest purchasing a home, though.

You will know when it is right to make that investment & you will not be needing outside sources to convince you one way or the other. Your wife & you will know.

Why rush?

Enjoy the time you have right now. You are employed & are not up at all hours with a baby or sleep deprieved

[riceme]

Take items one through four on your "talk me into" list, cut them, and paste them into your "talk me out of list".

There.

I think you're good now.

[bale002]

Originally Posted by Muggy

INTO buying a house
1. Some foreclosures are very tempting
2. Starting a family
3. Have solid careers here
4. It's Florida

OUT of buying a house
1. May move back to NY to be closer to family
2. May move overseas
3. Crazy tax scheme
4. Insurance
5. It's Floreedduh! Flarda! Flawda!

I'm in a similar situation, I can relate to all points pro and con.

It may be worth mentioning that the insurance concern is related to hurricanes, so they are still a problem.

As for taxes, it makes sense to buy as modest a property in Florida as you feel comfortable with so that the property tax does not act like an oppressive income tax: in some instances, the combination of property and income taxes in New York may actually be less than the property in Florida, but that equation depends on several variables.

Having said that, if you have a chance to move to a relatively secure and low-tax country overseas (maybe Switzerland?), then go for it. The overseas countries that I would be interested in are either insecure or would tax me out of business.


I would add one more reason not to buy a house in Florida, if you can possibly delay the decision without risking your family's equilibrium: there is no way that prices will resume their climb in the next year at least, maybe several years, and there is a good chance that they will continue declining, to the point where today's foreclosure prices set the benchmark for all sales.

At that point, even the property tax assessors' office will have to take that into account and you could start off at a more stable and lower tax base.

As it stands now, there is utter confusion as tax assessors are not obliged to take short-sale and foreclosure prices into account when setting assessed value for tax purposes.

In short, unless you are really sure about your income and you can no longer bear the family pressure, then wait at least a few more months - maybe the first six of 2009 - before buying, you may still get a better deal than the foreclosures you are seeing.

[Retiredcoach]

Muggy,

It may appear inane when you first read what I am going to say, but please consider... Your personal environment/ home can only be as good as your neighbors. It would be great to find a deal on a foreclosure, if you are not surrounded by neighbors close to foreclosure status themselves. It would be outstanding to land a job that paid you a livable wage, as long as, most of your neighbors had the same. It would be great to send your child to a school where he/she is receiving a superior education that will prepare him/her for the challenges of life, as long as, all of the children in your geographical region receive the same.

Business is down in most sectors of the economy, as many US citizens are struggling to buy just the essentials. Florida is being hit especially hard because of the factors that I have shared above. Nice weather and beautiful beaches mean little if you are moving (or staying) in an environment of indifference or quiet resignation. Frank is correct that only you can determine your own best personal environment. I agree with one addition... consider the plight of your potential neighbors/town/city/state. Good luck!

[Kim918]

Originally Posted by Retiredcoach

Muggy,

It may appear inane when you first read what I am going to say, but please consider... Your personal environment/ home can only be as good as your neighbors. It would be great to find a deal on a foreclosure, if you are not surrounded by neighbors close to foreclosure status themselves. It would be outstanding to land a job that paid you a livable wage, as long as, most of your neighbors had the same. It would be great to send your child to a school where he/she is receiving a superior education that will prepare him/her for the challenges of life, as long as, all of the children in your geographical region receive the same.

Business is down in most sectors of the economy, as many US citizens are struggling to buy just the essentials. Florida is being hit especially hard because of the factors that I have shared above. Nice weather and beautiful beaches mean little if you are moving (or staying) in an environment of indifference or quiet resignation. Frank is correct that only you can determine your own best personal environment. I agree with one addition... consider the plight of your potential neighbors/town/city/state. Good luck!

Very well thought out post. It makes a world of sense.

[1AngryTaxPayer]

Hot water pipe burst in the slab. 3,000 to tear up the floor, 500 for the plumber to repipe and another 2000 to fix the bathroom back to liveable condition.

You are welcome

[faithfulFrank]

Originally Posted by 1AngryTaxPayer

Hot water pipe burst in the slab. 3,000 to tear up the floor, 500 for the plumber to repipe and another 2000 to fix the bathroom back to liveable condition.

You are welcome

Huh ???

So, don't buy any home in Florida because a water pipe could possibly break in your slab...??

Don't buy a house in NY because a water pipe could freeze in your basement and cause tons of water damage....?? Don't live anywhere in California because an earthquake could swallow your house??

I don't mean to be rude....I really don't, but extrapolating your line of thinking would preclude me from living anywhere.

If what you said happened in my Florida home, I would get out my sledge hammer, bust up the slab just over the break, fix the pipe, mix up some more concrete, and it would be fixed for less then $50.00 and a day's work....but I'm a do it yourselfer......I designed and built my own house, and even delivered all my own kids.

Frank D.