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I think this can work well for some retired people who don't need to work and need to get the most house for the money. A fully paid for home with no mortgage and more money in the nest egg should they need it later on for elder care or medical expenses or earlier in the retirement to travel.
There are areas of the south where one can get a home for 25K that probably have nicer weather than Kansas.
Living by the ocean is overrated at least on most of the east coast. I'd rather live by a river like I do now, boating is more fun on rivers imo and you can go kayaking and so on down creeks that are connected to the river. We have little islands we throw parties on in the middle of the river, dock at bars while going up and down the river, etc.
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Originally Posted by Europeanflava
Instead of inland in places like Kansas. You can get a house for almost no cost in certain areas of Kansas and other non coastal states. Try finding that deal in a coastal state. Will not happen, you will likely be spending well north of $1 million dollars to own a home in the coastal states. Especially in highly desireable areas. So my
question is even if one have a good cash flow why would someone willingly choose to live in a place like Boston when they could own a house for almost no cost and save more money in the Midwest states?
You have to understand that people in the northeast generally think they are better than most of the rest of the country so most responses will reflect that attitude. I don't have time to read the thread I'm sure it's been a hoot though lol.
A ridiculously overdone song, but oh so true.
People back east can't even see the full night sky because of all the lights of "civilization!"
I don't ever want to live where I can't see the sky...
It's been one of America's most popular songs for more than 100 years. And it's also been the Kansas state anthem since 1947.
A key issue is not just whether you can see the stars, but how well you can see them. In a clear sky, far away from city lights, and without smog, you can see a lot more stars, and they look a lot clearer and brighter. Even if you travel the world, to all the great art museums, and all the great tourist vistas, you'll never find prettier or more awesome picture, than simply looking at the stars on a really clear night.
It really comes down to simple economics: real estate is driven by demand, supply and desirability, among other factors but those three are the big ones. Places where houses are very cheap tend to lack many available jobs and/or well paying ones. Emplyment aside, people tend to want to live where they desire: close to family, close to things which fit their interests and lifestyle, even if it cuts into their finances. For most people, finding the absolute lowest cost for a home for the most "house" (ie bang for the buck house wise), is not a top priority. I for one would much prefer to be closer to family, universities, a river or beach, closer to highways and transit to facilitate travel (as I travel often).
I will give an example I came upon just last week about cheap houses and desirability and practicality:
My mother has been in the market to buy a second home down south (she lives part of the year right outside Charleston, SC).
A very good friend of mine also lives part time in Charleston and part time in Bamburg County, which is over an hour west of the city...its a very rural area with many cotton farms, etc. Not much going on at all but it is where he grew up and he keeps his family's 120 year old house there for weekends.....well, he called me and told me of a house very near his that is now for sale. Its a huge old place, 6 bedrooms, 4 bathrooms, a solarium, fireplaces in each room, a great amount of hand carved woodwork and stonework, etc....about 20 rooms in all--well cared for by the same family for generations. Its on an acre of land with a garage and small barn as well....it sits in the town center with several other houses of like size and vintage, all cared for as well...the asking price is right around $100,000----which of course one might say is an incredible steal. In fact, it would probably sell for a bit less than that, in my friend's opinion.
However-when you look at where this house is, you start to see why it is priced so low, despite its many impressive attributes. When the house was built circa 1900 the town was a boom railroad and farming community some 60 miles west of Charleston and about the same from Columbia...it was a wealthy part of the state, its economy based much on farming and railroads/trucking.
Well, all of that went to bust circa 1965 when several things changed which caused the area's economy to decline sharply...they still grow some cotton and other crops there, but just a fraction of what was 50 years ago. Most of the old farmland has reverted back to woods. Most of the residents left, sold their farms or seriously downsized their holdings as a result...most of the jobs left too, or ceased to exist. Now there are not many jobs at all and most of what is there are low paying, low security service jobs. Many of those still there who DO have money are wither the small number of farmers who are successful, are wealthy due to other means, etc...but its an area which does not have much to offer anymore in terms of well-paying employment. My friend invested in real estate in Charleston and thus is able to keep his boyhood home...the taxes are also quite fairly due to the low value of the real estate.
But even then, a $100,000 house in that area is well out of reach for many there due to few jobs---or the upkeep of much a place with not just the taxes, but other general expenses with keeping a large home like that. Nearly all of the houses in the town center of that size, which there are several, are now owned by either farmers well off enough to afford it and nearby farmlands...or city folk who only live there part of the time. A few are owned by a local families who make enough in local jobs to afford them, but those jobs are few and far between. For me, its a wondeful old house but I would find myself getting board and also find it a bit tiresome to drive long distances to go to the places and visit people in the city, where most of my life and activities are.
I grew up in the Midwest and I am looking forward to moving back there! It has nothing to do with cost. Even if California was exactly the same cost as the Midwest I would still plan on moving back to the midwest.
I'm glad you have found the right place for you. But I have a feeling you aren't so happy that we found the right place for us (California).
I was clear in my post that midwestern living was not for ME. But I never said anything about anyone else. I will never live there again, and that makes me very happy!
I think this can work well for some retired people who don't need to work and need to get the most house for the money. A fully paid for home with no mortgage and more money in the nest egg should they need it later on for elder care or medical expenses or earlier in the retirement to travel.
There are areas of the south where one can get a home for 25K that probably have nicer weather than Kansas.
A $25k down payment or the total cost of the home is $25k. If its the latter I'd sure like to see that house.
Being landlocked is not fun. I've also heard it's flat there...
You've heard incorrectly. Most of the Great Plains is actually rolling hills. No real mountains, though.
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