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edjr

Average rent for a 2 bedroom apt with 741 sq feet is $1950

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7 minutes ago, Hawkeye21 said:

Same here.  Once I was out of college I lived with my parents for a year and then bought my first house.

Amazing. After one year of work you could buy a house. Lol. 

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Just now, Hardcore troubadour said:

Amazing. After one year of work you could buy a house. Lol. 

I worked during college.  Didn't you?  My first house was tiny, less than 600sq ft and I paid $62,000 for it.  Had a $6,000 down payment and mortgage was like $360 a month.

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3 minutes ago, Hawkeye21 said:

I worked during college.  Didn't you?  My first house was tiny, less than 600sq ft and I paid $62,000 for it.  Had a $6,000 down payment and mortgage was like $360 a month.

Awesome. No, I didn’t.  The barracks were free though. 

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2 hours ago, Hawkeye21 said:

I do have to pay for that and I always know it gets done right away and properly.  I don't always trust who a landlord is going to hire.  My sister in law had to wait well over a week for her landlord to get her AC fixed this summer.

Yeah. I lived a crappy place once where the landlord had terrible maintenance. Got the hell out of there and found a place that only took in people making above a certain higher dollar amount. They fix everything immediately. Maybe take one day at the longest. We have been here for about 5 years and love it. 

We pay about $21,000 in rent per year and nothing else for the 2 of us. We can move at a moment's notice if we wanted to with the only hassle being the move itself. 

A guy down the block from me is paying $24,100 a year in property taxes. I don't think he's dumb for buying his $800,000 home because he wanted it. And it's a beautiful place. That's awesome if that's what you want. So he has an $800,000 investment that he needs to live in. He also put a boat load of money into the place over time. I choose to invest my $800,000 in another direction, and I'm not tied to it because I don't need it to be my residence.

If we lived in a more rural area, we would probably consider buying a home. You get more for your money, although demand isn't as big. 

  

 

 

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24 minutes ago, Hardcore troubadour said:

Amazing. After one year of work you could buy a house. Lol. 

My parents, my family. I have not been given on single thing in life. I did get 5k from my day to help pay for my wedding :lol:

I earned every single thing I have. 

 

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1 minute ago, edjr said:

My parents, my family. I have not been given on single thing in life. I did get 5k from my day to help pay for my wedding :lol:

I earned every single thing I have. 

 

👍

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5 minutes ago, edjr said:

My parents, my family. I have not been given on single thing in life. I did get 5k from my day to help pay for my wedding :lol:

I earned every single thing I have. 

 

Same here, but I didn't get 5k for my wedding, paid for it all myself.  My parents and I split college costs 50/50

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8 minutes ago, vomit said:

Same here, but I didn't get 5k for my wedding, paid for it all myself.  My parents and I split college costs 50/50

So it’s not the same. Got it. Don’t forget living rent free as well. 

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3 minutes ago, edjr said:

My parents, my family. I have not been given on single thing in life. I did get 5k from my day to help pay for my wedding :lol:

I earned every single thing I have. 

 

I worked since i was 15 and enjoyed doing it. My parents only helped me with money one time when I was moving from one state to another. They sent me like $200 a month for about 6 months when I was 18. Helped a lot and then I didn't need it anymore. I was going to pay them back but they wouldn't accept.

I loved the fact that when I was a kid my parents let me be independent. Even in grade school as a kid during summer vacations they only required me to be home for dinner. They never needed to give me money but allowed me to earn some doing chores if I wanted any. My parents and my friend's dad used to allow us to keep the deposit money from bringing pop bottles back to store. Once every couple weeks we would grab a wagon and collect them all from where we could. Then split the money.    

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1 minute ago, craftsman said:

I worked since i was 15 and enjoyed doing it. My parents only helped me with money one time when I was moving from one state to another. They sent me like $200 a month for about 6 months when I was 18. Helped a lot and then I didn't need it anymore. I was going to pay them back but they wouldn't accept.

I loved the fact that when I was a kid my parents let me be independent. Even in grade school as a kid during summer vacations they only required me to be home for dinner. They never needed to give me money but allowed me to earn some doing chores if I wanted any. My parents and my friend's dad used to allow us to keep the deposit money from bringing pop bottles back to store. Once every couple weeks we would grab a wagon and collect them all from where we could. Then split the money.    

I moved out when I was 18 3/4 as well. Couldn't wait to get the fock out of that house. 

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11 minutes ago, edjr said:

I moved out when I was 18 3/4 as well. Couldn't wait to get the fock out of that house. 

I actually got out at 17. There is a running joke in my family that my parents moved from the house I grew up in right after I moved out so that they could escape me from coming back to visit. Yet I found them. 

Kind of stupid but it's a family thing which makes it funny I guess. 

 

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7 minutes ago, craftsman said:

I actually got out at 17. There is a running joke in my family that my parents moved from the house I grew up in right after I moved out so that they could escape me from coming back to visit. Yet I found them. 

Kind of stupid but it's a family thing which makes it funny I guess. 

 

If I didnt have a kid, I would probably never see my dad and my step mom.  They now live on a lake up in maine, so it is fun to visit. 

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2 minutes ago, edjr said:

If I didnt have a kid, I would probably never see my dad and my step mom.  They now live on a lake up in maine, so it is fun to visit. 

I love my parents and would do anything for them, but we live in different states and I can go 6 months without calling them. But I'll always visit them maybe twice a year. A couple of my sisters I'm sure call them at least a couple times a week. One lives close by them and I'm know she stops by to visit them a few times a week. 

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13 hours ago, Hardcore troubadour said:

You bought a house right after college? Impressive. You deal weed or something? 

I did as well. I told the bank I would be paying less than rent. They said no, you have no credit but if I had $10k in the bank, they would agree. Magically 10K showed up in my account. 

Told mom and dad that I could beat their CD rates.

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2 hours ago, Hardcore troubadour said:

30 year mortgage on a 350k house with 20 pct down, good interest rate. Monthly nut, mort, taxes, insurance around 2500. Keeping the taxes the same over the 30 years(not happening) you will pay 900k before you pay it off. Never mind upkeep and utilities. And your down payment at the start of the thirty years. So we are over a million. Anyone still think you’re getting all that money back at the end?  A house isn’t the investment it once was and renting in some places is actually the smart move, money wise. Putting down roots is the reason you do it. 

Dang what are your taxes like $15k?

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1 minute ago, TimHauck said:

Dang what are your taxes like $15k?

A little less. Half of that is just school tax. 

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2 minutes ago, TimHauck said:

Dang what are your taxes like $15k?

I pay $27k/year in property taxes in NJ.  It's disgusting.  My kids all leave the school system in 3 years.  I'm out.

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2 hours ago, craftsman said:

You don't have to pay for when your water heater goes out? Or when you need a new roof? Or when there is mold in your crawlspace? Or on insurance in case your basement gets flooded? Or when you have troubles with your appliances? Or if you have troubles with critters in your walls? Or if you need new gutters? Or if you need to get your central air fixed? Or if you plumbing issues? Or the million other things that come up over the years?

I would rather not have to pay for those things and have the $650,000 working for me in other ways.

The real advantage of real estate that people don't even realize they're doing is leveraging their money.

For instance, you don't have $650.000 working for you in other ways most of the time.  You have the $25k down payment and the delta between rent and mortgage working for you.  So let's call it $50k.  You make 10% a year on that in the stock market and after 10 years, you made about $80k.  If you buy the $650K house and it appreciates only 3% per year, after 10 years you made, $225k, so as long as the maintenance and interest/tax/insurance doesn't eat up the 145k of additional profit, you come out ahead... Then, of course, I've tilted the appreciation well in favor of equities here.  Typically real estate at least keeps up with the stock market.

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3 hours ago, Horseman said:

Which direction? 

That way over there. 

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10 minutes ago, nobody said:

The real advantage of real estate that people don't even realize they're doing is leveraging their money.

For instance, you don't have $650.000 working for you in other ways most of the time.  You have the $25k down payment and the delta between rent and mortgage working for you.  So let's call it $50k.  You make 10% a year on that in the stock market and after 10 years, you made about $80k.  If you buy the $650K house and it appreciates only 3% per year, after 10 years you made, $225k, so as long as the maintenance and interest/tax/insurance doesn't eat up the 145k of additional profit, you come out ahead... Then, of course, I've tilted the appreciation well in favor of equities here.  Typically real estate at least keeps up with the stock market.

Well, I actually have about more than $650,000 working for me all the time. it goes up and down but over time it has done very well. My girlfriend is in the same spot.

Plus, I like to live financially simple. I met the perfect person for me as she is very similar. We are both financially independent as individuals and don't need a lavish lifestyle. We usually spend on travel but both have lots of points for flying and hotels. When we buy stuff we are willing to pay up but neither one of us really need anything. It's impossible to buy each other presents so we don't even do it really. We just celebrate occasions in one way or another. 

I love renting now that we found a great place to rent with great neighbors.  If we want to take off to somewhere else it will be a breeze to do so. We have a lot of life ahead of us so who knows what will happen down the road.

We do each want something that we don't have though. She and I wouldn't mind having a garden and I wouldn't mind having a nice large 2.5 car garage to work in.

Give and take I guess. 

 

 

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Well the same concept applies.  You don't have to show up with a check for $650k.  You can put some fractional amount down and keep the rest working for you and doing very well.

But I get your point.  You need to convince yourself that renting is your best move by convincing everyone else that it's the best move.

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10 minutes ago, nobody said:

Well the same concept applies.  You don't have to show up with a check for $650k.  You can put some fractional amount down and keep the rest working for you and doing very well.

But I get your point.  You need to convince yourself that renting is your best move by convincing everyone else that it's the best move.

I would never try to convince anyone that renting is better for them. Not in the least. I am not a life councilor. All my friends are paying mortgages on their homes. They seem happy.  

And I don't need to convince myself of anything. Things are fine the way they are. That's enough to convince me. :dunno:

I'm kind of a Dave Ramsey guy. Pay up for everything. Stay out of debt at all costs. Although he is big into home and property investments, that's where I go in another direction because of my lifestyle of not needing a home. 

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1 hour ago, craftsman said:

Well, I actually have about more than $650,000 working for me all the time. it goes up and down but over time it has done very well. My girlfriend is in the same spot.

Plus, I like to live financially simple. I met the perfect person for me as she is very similar. We are both financially independent as individuals and don't need a lavish lifestyle. We usually spend on travel but both have lots of points for flying and hotels. When we buy stuff we are willing to pay up but neither one of us really need anything. It's impossible to buy each other presents so we don't even do it really. We just celebrate occasions in one way or another. 

I love renting now that we found a great place to rent with great neighbors.  If we want to take off to somewhere else it will be a breeze to do so. We have a lot of life ahead of us so who knows what will happen down the road.

We do each want something that we don't have though. She and I wouldn't mind having a garden and I wouldn't mind having a nice large 2.5 car garage to work in.

Give and take I guess. 

i want to hear more about you going up and down while your girlfriend is in the same spot.

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2 minutes ago, JustinCharge said:

i want to hear more about you going up and down while your girlfriend is in the same spot.

Maybe one day when I get old I'll write a book about it. 

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5 hours ago, vomit said:

I would like to move to a cheaper area when I retire.  I think I would miss easy access to good and varied food options.  Also like living near good medical care, and I like going into the cities every once in a while.

Our plan is to eventually move out to our house on the coast once we both retire. The medical care issue is a concern, however, as the closest big city with adequate hospitals is about 1.5 hrs away.

Hopefully my wife and I both have gotten our cancer out of the way while living close to Seattle. There was a guy who was also getting daily radiation treatment that had to drive 2.5 hrs each way every damn day.  That would've sucked ass. 

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