Re:U.S. house prices are rising exponentially faster than in...
by gravypod on Saturday October 30, 2021 @11:05AM
(#29049331)
> That means that even paying $3300/month to rent a run-down shithole and $6 per gallon for milk, I’m saving $120k a year vs the $40k I’d save in a small town.
Exactly this. I hate the highly populated areas of the world but I'm working in one with hopes that I can buy a house with high speed internet within driving distance of a medium sized family-oriented town with a shopping + restaurant district. If cost of living is 1/3rd then your 120k savings just got you a whole bunch of slack.
Re:U.S. house prices are rising exponentially faster than in...
by spacedcowboy on Saturday October 30, 2021 @12:53PM
(#29050234)
Me too. My numbers are higher, and I’m probably older, but as retirement looms on the horizon, the goal is simply to make hay while the sun shines.
The exit strategy is to sell the ridiculously overpriced house, fully paid off, which has doubled in price in the last 8 years, and sod off to a lower COL area. Since I’m a Brit, a small castle with grounds in Scotland ought to be on the cards, for less than my 1500 sq ft ranch-style house here.
No matter how hard I looked or negotiated, I couldn’t manage to get any remote offers or jobs in small towns in the USA that’d pay over about $140k. Meanwhile, with my experience it was EASY to get an offer for $300k in the Bay Area.
That means that even paying $3300/month to rent a run-down shithole and $6 per gallon for milk, I’m saving $120k a year vs the $40k I’d save in a small town.
The numbers get even more insane if you buy property in one of these hideously overpriced Bay Area cities. I haven’t done it yet, since a downturn could leave me holding the bag and trapped in this nightmarish place for 5 years, but the financial incentives are incredible