Dave Ramsey on new car purchases.
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Originally Posted By: supton
You missed the point--for what he payed in property taxes he now rents. Minus a mortgage payment. Thus a net savings.
When I ran the numbers, to see what I needed in retirement, it dawned on me that I should expect my property taxes to exceed my mortgage payment. Inflation ought to see to that. I mean, I don't pay taxes elsewhere, but prop tax is going to be a large drain in retirement.
I pay about $1,300 for mortgage, insurance and tax. I could probably rent for less, and then not be on the hook for repairs. Then again in ten years it might drop to $500 once the pesky mortgage is paid off! Rent tho will just keep climbing.
I have low taxes, just under $4k. I have a coworker who has $12k, but his house is easily 3x mine if not more. He also doesn't hate his house.
I got the point. How downsized, drastically.
What I took issue with was the idea that he was saving by renting versus owning, when he could have purchased a smaller place and covered the entire mortgage payment with what he had been paying in property taxes on the more expensive house.
You missed the point--for what he payed in property taxes he now rents. Minus a mortgage payment. Thus a net savings.
When I ran the numbers, to see what I needed in retirement, it dawned on me that I should expect my property taxes to exceed my mortgage payment. Inflation ought to see to that. I mean, I don't pay taxes elsewhere, but prop tax is going to be a large drain in retirement.
I pay about $1,300 for mortgage, insurance and tax. I could probably rent for less, and then not be on the hook for repairs. Then again in ten years it might drop to $500 once the pesky mortgage is paid off! Rent tho will just keep climbing.
I have low taxes, just under $4k. I have a coworker who has $12k, but his house is easily 3x mine if not more. He also doesn't hate his house.
I got the point. How downsized, drastically.
What I took issue with was the idea that he was saving by renting versus owning, when he could have purchased a smaller place and covered the entire mortgage payment with what he had been paying in property taxes on the more expensive house.
Originally Posted By: supton
Originally Posted By: Mykl
Originally Posted By: Jarlaxle
Best thing I ever did was selling my house. Taxes are too much...just not worth it.
I'm in a nice apartment for not much more than just the property taxes were costing me.
Yeah, but you're still paying property taxes. They're just rolled up into your rent now. If you owned a property that appraised for the same as your apartment you'd be paying the same as the owner of that apartment.
You missed the point--for what he payed in property taxes he now rents. Minus a mortgage payment. Thus a net savings.
When I ran the numbers, to see what I needed in retirement, it dawned on me that I should expect my property taxes to exceed my mortgage payment. Inflation ought to see to that. I mean, I don't pay taxes elsewhere, but prop tax is going to be a large drain in retirement.
I pay about $1,300 for mortgage, insurance and tax. I could probably rent for less, and then not be on the hook for repairs. Then again in ten years it might drop to $500 once the pesky mortgage is paid off! Rent tho will just keep climbing.
I have low taxes, just under $4k. I have a coworker who has $12k, but his house is easily 3x mine if not more. He also doesn't hate his house.
I liked my house...but my property taxes had more than TRIPLED in 4 years. Last year I was there, I paid almost $8200.
Originally Posted By: Mykl
Originally Posted By: Jarlaxle
Best thing I ever did was selling my house. Taxes are too much...just not worth it.
I'm in a nice apartment for not much more than just the property taxes were costing me.
Yeah, but you're still paying property taxes. They're just rolled up into your rent now. If you owned a property that appraised for the same as your apartment you'd be paying the same as the owner of that apartment.
You missed the point--for what he payed in property taxes he now rents. Minus a mortgage payment. Thus a net savings.
When I ran the numbers, to see what I needed in retirement, it dawned on me that I should expect my property taxes to exceed my mortgage payment. Inflation ought to see to that. I mean, I don't pay taxes elsewhere, but prop tax is going to be a large drain in retirement.
I pay about $1,300 for mortgage, insurance and tax. I could probably rent for less, and then not be on the hook for repairs. Then again in ten years it might drop to $500 once the pesky mortgage is paid off! Rent tho will just keep climbing.
I have low taxes, just under $4k. I have a coworker who has $12k, but his house is easily 3x mine if not more. He also doesn't hate his house.
I liked my house...but my property taxes had more than TRIPLED in 4 years. Last year I was there, I paid almost $8200.
Ah, the joys of living in an older home, zero property taxes.
What about annoying people, crime, vandalism, loitering, and teens causing trouble in apartment complex ?
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