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Old 05-02-2022, 01:50 AM
 
79 posts, read 53,788 times
Reputation: 163

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Quote:
Originally Posted by moguldreamer View Post
Among people I know who move here from coastal California, no one needs a mortgage, and few bother with a mortgage. You sell your house that you own free and clear in Palo Alto - say this one:



And you move to Henderson and pay all cash for a house like this one:



No mortgage. No worries.
Thank you for your thoughts.

Well...there are a lot of assumptions there...is the property paid for? The transaction fees are also a deadly expense to consider as well for those big ticket houses.

The only people that benefit from the sale, with a lot of equity and paying cash for the next house, are those willing (and smart enough) to downsize their standard of living.

Living in a luxury house is a waste in my honest opinion, because nobody really owns their house with all the upkeep, taxes, insurance, hoa, etc.

My thing is find a safe area with low crime and some privacy and a low tax area, and you are good.
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Old 05-02-2022, 08:59 AM
 
Location: Southern Highlands
2,413 posts, read 2,031,264 times
Reputation: 2236
FIFY:


Living in a luxury house ... nobody really ... cares about upkeep, taxes, insurance, hoa, etc.
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Old 05-03-2022, 10:22 AM
 
7,823 posts, read 3,823,458 times
Reputation: 14758
Quote:
Originally Posted by steveborsto12 View Post
Well...there are a lot of assumptions there...is the property paid for?
Yes, of course.

Quote:
Originally Posted by steveborsto12 View Post
The transaction fees are also a deadly expense to consider as well for those big ticket houses.
Say, somewhere in the $400K range. But don't forget, the seller might have a $4 million capital gain.

Quote:
Originally Posted by steveborsto12 View Post
The only people that benefit from the sale, with a lot of equity and paying cash for the next house, are those willing (and smart enough) to downsize their standard of living.
Incorrect. We upsized our standard of living.

Quote:
Originally Posted by steveborsto12 View Post
Living in a luxury house is a waste in my honest opinion, because nobody really owns their house with all the upkeep, taxes, insurance, hoa, etc.
It is a consumption item.
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Old 05-07-2022, 09:51 AM
 
Location: OC
12,843 posts, read 9,573,647 times
Reputation: 10630
Quote:
Originally Posted by movin1 View Post
Exactly. I have moved several times, bought and sold houses to make those moves. There is no way to win the game. If you sell and rent, you pay more in taxes because you don't have the deductions you get as a homeowner. Maybe you could find a place where real estate is less expensive than Vegas now, but would you want to live there?
And Vegas is still viewed as the place to go for less expensive real estate
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