How many pulling off ER w/o pension and inheritance

[WRBT]

I doubt you could say that as an absolute.

Here's one from the many $125kish in Lincoln on realtor.com:
http://tinyurl.com/ylrkul

Here's a starter home in Lincoln for $125k on craigslist:
http://lincoln.craigslist.org/rfs/245667139.html

Surely the Taj Mahal but I think it fairly supports poster's claim that one can obtain single family home for about $125k in Lincoln, NE.

 

[dt123]

Here's a nice neighborhood in Plano, TX with excellent public schools. http://tinyurl.com/y2xsdc My mom lives on this street, fourth house from the western end of Potomac on the north side. $137,000.

It amazes me what a lifetime hit to their finances folks living on the coasts voluntarily take.

 

[tryan]

I'd like to see a houshold budget where the folks save 50% a year, have two kids, a mortgage, etc. AND, they make less than $100K a year.

THAT WOULD BE A BUDGET!!!

Had the 2 kids, mortgage and less than 100k but could only save 25%. Excluding RE appreciation, of course.

 

[brewer12345]

It amazes me what a lifetime hit to their finances folks living on the coasts voluntarily take.

Until you compare the appreciation of costal property vs. flyover country...

 

[JohnDoe]

Had the 2 kids, mortgage and less than 100k but could only save 25%. Excluding RE appreciation, of course.

That's about where I am, however, I'm trying to squeeze another 5%. Also paying extra on mortgage principal.

 

[youbet]

Hmmmmm....... No one has come up with an example of a nice, four bedroom, three bath home in the midwest for $125K. So, let's just say that even here in the heartland, housing just isn't that inexpensive anymore!

 

[WRBT]

Well "nice" is a pretty open-ended term so saying can or can't is a pointless exercise, but just for grins:

Topeka:

Omaha:

Wichita

Lincoln:

 

[WRBT]

Myanmar:

 

[HFWR]

Here's a nice neighborhood in Plano, TX with excellent public schools. http://tinyurl.com/y2xsdc My mom lives on this street, fourth house from the western end of Potomac on the north side. $137,000.

It amazes me what a lifetime hit to their finances folks living on the coasts voluntarily take.

And it's close to the mall...

 

[fluffy]

New Centex homes in DFW area: http://foxandjacob.com/M21513D1317.asp?dd=TX Many start under $125K

 

[youbet]

Well......... nothing offered seems to be four bedrooms and three baths. We can leave "nice" out of the equation and just say "in good repair."

Anyway, I was just referring to macdaddy's post where he was hoping to build his budget around a low mortgage based on buying a "nice four bedroom three bath" house in the midwest for $125K.

Sadly, per my knowledge of the upper midwest and from what you folks have shown, it just doesn't happen anymore. Even out here, away from the coasts, a four bedroom three bath house in good repair costs a lot more than $125K.

 

[WRBT]

That's simply not true.

There are plenty of 4/3 midwest houses on the internet, some of which have been shown in this thread. You have no way of supporting the claim that they're not in good repair, you're just working from a conclusion and ignoring evidence to the contrary.

My mother-in-law lives in Omaha and we know very well the condition of her house and it's value... it doesn't support your claim.

 

[Nords]

It amazes me what a lifetime hit to their finances folks living on the coasts voluntarily take.

Well, it's winter on most of the Mainland right now and I'm surrounded by "living on the coasts". So why don't you come out here for a couple weeks, I'll teach you how to surf if you don't already, we'll explore some of the cultural & natural resources within 30 minutes of my door, and we'll evaluate the benefits against that "lifetime hit" to the finances...

Anyway, I was just referring to macdaddy's post where he was hoping to build his budget around a low mortgage based on buying a "nice four bedroom three bath" house in the midwest for $125K.

When I look around our 4/2.5 and imagine life after the kid leaves the nest, I think we have one or two bedrooms too many. Why in the world would we want a house big enough to encourage our kids or, even worse, our parents-in-law to move back in?

 

[macdaddy]

Well......... nothing offered seems to be four bedrooms and three baths. We can leave "nice" out of the equation and just say "in good repair."

Anyway, I was just referring to macdaddy's post where he was hoping to build his budget around a low mortgage based on buying a "nice four bedroom three bath" house in the midwest for $125K.

Sadly, per my knowledge of the upper midwest and from what you folks have shown, it just doesn't happen anymore. Even out here, away from the coasts, a four bedroom three bath house in good repair costs a lot more than $125K.

I'm pretty familiar with Lincoln and what I described does exist... definitely in Texas too... property taxes are high in both places, though. Maybe I should have said "decent" instead of "nice" and 3 bed 2 bath rather than 4 bed 3 bath. In a lot of places $125k is still quite a bit of money to put on a house.

Personally, I agree with nords, that higher prices on the coasts and in nice areas are generally justified. Maybe Texas is an exception, because a lot of people love living there, there is a lot of stuff to do, and it's dirt cheap.

 

[REWahoo]

Maybe Texas is an exception, because a lot of people love living there, there is a lot of stuff to do, and it's dirt cheap.

Dirt cheap isn't what it used to be <said the curmudgeon>. In my case it (land price) has almost doubled in the past 5 years. Must be them dang Californians...


Edit: Defined "it" as the price of land.

 

[Nords]

In my case it (land price) has almost doubled in the past 5 years. Must be them dang Californians...

I thought it was all the valuable natural resources it contains.

No, no, not the fossil fuels-- I'm talking about the scorpions, fire ants, rattlesnakes, and Californians...

 

[REWahoo]

-- I'm talking about the scorpions, fire ants, rattlesnakes, and Californians...

Reminds me of an old Johnny Carson "Karnak" bit:

Envelope held to the forehead... "Name something that stings, bites, is poisonous and pays way too much for housing".

Just kidding, all you west coasters.

 

[73ss454]

Come on REW, you weren't kidding!

 

[REWahoo]

Come on REW, you weren't kidding!

Hey! You've only been retired for a week. Don't you have something better to do than harass other posters?

 

[dt123]

Well, it's winter on most of the Mainland right now and I'm surrounded by "living on the coasts". So why don't you come out here for a couple weeks, ...

How does this weekend look for you?

 

[Nords]

How does this weekend look for you?

It's always good for me!

Record 20-foot plus North Shore surf should suck all the hardcore guys up there while the kid & I will be enjoying an out-of-season south swell at White Plains. We'll be on the eastern side of the group offshore of where the chain-link fence enters the water.

If you don't see us when you get there, just have the lifeguard page me on his megaphone...