The Goat Pen

one thing they tell you about home ownership is, as a young man you will go buy a house and the house payment for most of us will be a significant percentage of our salary but over time we'll get pay increases and the mortgage itself will be more manageable. You mentally prepare for that, the early sacrifices are worth as you build equity.

What they don't tell you is that as you get older, the other side of the house payment goes up too. The property taxes and the insurance continue to rise. So now that my house is paid off , this windfall that I was expecting is really only a few hundred dollars because the bulk of my house payment is now property tax and insurance, which is unfortunately tied to the ever increasing value of my home. Its very possible that I could live in this house long enough to see my property taxes and insurance end up being more than my original house payment when I bought it - I'm really only about 3 school bonds away from it, or another bubble housing market where housing prices increase 20%. That's a shit situation to be in when you are looking at retirement. You think about retirement in terms of not having a house payment, but in my case I'll still be paying house payment levels to stay in this house.

I've been reading for awhile now that corporations are buying houses and holding onto them resulting in housing prices continuing to rise regardless of market conditions. That's great if you are a homeowner who bought 6 years ago and now want to sell. You'll probably see a tidy capital gain of 25-40% on your home, but if you are trying to buy a home, or are a long time homeowner looking to retire, this totally fucks you over.

Karma

I think I'm fixin to buy a battery powered lawn mower...

"the ever increasing value of my home"

Thanks, Biden!!

Renting can be a good option at retirement. Get a nice chunk of cash and probably pay similar or less than what you're paying on the home you owned in terms of taxes and insurance. Something breaks, you just make a phone call and somebody comes and fixes it. And you've got that nice chunk of cash to do shit with. What are you going to do with a house anyway? Leave it to your kids? They're just going to sell it for the caaaiiiissshhhh....

I would suggest downsizing but that would take at least a year to declutter the compound, sell off the tanks, ammo and old pickups and remodel. By then the housing bubble will burst and he'll lose out on all that profit he's sitting on right now.

Move to a more rural area where property taxes are low.

In Jackson County NC where my future retirement home is the rate is .41, where in Charlotte it was 1.63

Greenville County SC outside a city is .66

that's the plan

I'm been researching areas of the country south of here - I want spring in March, not May , and I want a location thats not more than 20 minutes to shopping and a medical center.

I'm looking at Gadsden, AL, Lafollett, TN, & Bowling Green, KY right now.

I found 14 acres just outside Somerset, KY but Somerset just doesn't have enough to offer.

I have an opportunity at work, which unfortunately will require me to travel for 4 months straight every year
but the upside is it kills the tether I have with this office meaning I can live anywhere in the country - and with Starlink, I mean anywhere.

.051 here in Beaufort County E. Cmon down. I'll show you the region. You'll love it.

I thought he was trying to get away from Ohio, not to move to its retirement home...

Doubt he knows anyone down here. He'd be safe.

Damn. All it takes is a fist bump to stir em up these days. The end is nigh.

Jungle Rat wrote: ↑Fri Jul 15, 2022 6:40 pm Damn. All it takes is a fist bump to stir em up these days. The end is nigh.

That’s from his own party.

The goal was to get them to pump more oil so he can keep his environmental stranglehold on oil production here. Didnt turn out so good.

eCat wrote: ↑Fri Jul 15, 2022 1:18 pm that's the plan

I'm been researching areas of the country south of here - I want spring in March, not May , and I want a location thats not more than 20 minutes to shopping and a medical center.

I'm looking at Gadsden, AL, Lafollett, TN, & Bowling Green, KY right now.

I found 14 acres just outside Somerset, KY but Somerset just doesn't have enough to offer.

I have an opportunity at work, which unfortunately will require me to travel for 4 months straight every year
but the upside is it kills the tether I have with this office meaning I can live anywhere in the country - and with Starlink, I mean anywhere.

I would vacation in late July down at those locations to see if you can stand the heat before I’d commit. I’ve migrated back north a little because the summers in the South can get oppressive.

I wish you'd migrate to the Arctic Circle...

sardis wrote: ↑Sat Jul 16, 2022 9:44 am

Jungle Rat wrote: ↑Fri Jul 15, 2022 6:40 pm Damn. All it takes is a fist bump to stir em up these days. The end is nigh.

That’s from his own party.

The goal was to get them to pump more oil so he can keep his environmental stranglehold on oil production here. Didnt turn out so good.

It didn't?