Major rant happening here..... beware!

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bnt83 said:
ahh, I have watched family health insurance premiums, between that and daycare :eek:, being single and paying more tax seems like a bargain

Back to the immediate problem.
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It's not. My personal premiums have gone up more than 400%. I get no subsidy. My higher taxes subsidize [literally] my neighbors. Yay. America, where success has a price.
 
Or, more practically speaking, go live in a hangar.
 
Grum.Man said:
So I feel the need to vent. I realize I am more fortunate than a lot of people when it comes to money and material things yet I can't help but feel constantly screwed. For example, I just sold my house. It sold much much quicker than I expected so now I am scrambling to find a place to move for a while. I was hoping to move closer to work and the airport but it does not appear to be an option. There are 5 new apartment complexes built in my area and all 5 impose income limits to live there. The only other apartments in the county are drug riddled, sex trafficking, theft sites. So because I made an effort in life to get an education and a good job I have to pay ridiculous rent prices 30 minutes away. And by the way, since I have done well for my self I get rapped on taxes especially being single with no kids. It will be even worse next year not having a mortgage to write off. It ****es me off even more to ride through the complexes and see new trucks and suvs parked out front that even I couldn't afford.
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I feel your pain. The one thing I don't get is the thing about the mortgage. I can't think of a situation where writing it off vs. having to make payments would save you money. But I've never bought on a mortgage, so I guess there's things about it I don't know.
 
azure said:
I feel your pain. The one thing I don't get is the thing about the mortgage. I can't think of a situation where writing it off vs. having to make payments would save you money. But I've never bought on a mortgage, so I guess there's things about it I don't know.
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It doesn't cover the principal, but the interest deduction can make the borrowed money cheaper than what you can make on investing the money needed to pay it off.
 
azure said:
I feel your pain. The one thing I don't get is the thing about the mortgage. I can't think of a situation where writing it off vs. having to make payments would save you money. But I've never bought on a mortgage, so I guess there's things about it I don't know.
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Well, if you pay a grand in rent it will be greater out of pocket vs. a grand in mortgage, due to the reduction in income from the mortgage interest. (My home mortgage interest is something like $15K a year.)
 
Kenny Phillips said:
It's not. My personal premiums have gone up more than 400%. I get no subsidy. My higher taxes subsidize [literally] my neighbors. Yay. America, where success has a price.
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Let me know when you're paying $2K/mo to cover daycare for 2 kids. I'm willing to bet that you don't have $24,000 worth of annual health insurance premium increases and higher tax rates to offset that. :)
 
jsstevens said:
It doesn't cover the principal, but the interest deduction can make the borrowed money cheaper than what you can make on investing the money needed to pay it off.
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Yeah, that's what I figured he meant, I just don't see that as anything you can count on. "Investment" with that kind of rate of return means stocks... and we've seen recently how volatile the market can be.
 
jsstevens said:
It doesn't cover the principal, but the interest deduction can make the borrowed money cheaper than what you can make on investing the money needed to pay it off.
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Interest deduction only helps if you have enough to break through the standard deduction threshold. Going to be much harder to do for most people this year due to the increase in standard deduction to $12K/single or $24K/married-joint. I don't have mortgage interest that comes anywhere near that with current dependents.
 
DaleB said:
Gosh. Should have maybe planned ahead and written the sale contract to close the sale and transfer possession after you had a place to live.

Did you not figure out where you were going to live before listing your house for sale? That would kind of seem like the way to do it...
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As I said, didn’t think it would sell within 4 days of putting it on Facebook. I also made the incorrect assumption that I could rent an apartment in one of the 4-5 brand new complexes in my area.
 
Ted DuPuis said:
Grum, why'd you sell your house? Sounds like you've caused yourself a lot of problems. This is why I never rented once I left college, and have no desire to rent - owning has always worked out better for me.



The issue is that you have a number of New Yorkers who want to move where it's not so cold and property values are lower. Then they move, bring their "values" with them, and there you have it. I realize I'm a recovered New Yorker, but I never belonged there anyway - it was just where I was born. You have a lot of people who belong there culture wise.

One of my friends has lived in Buffalo NY his entire life, and is retiring later this year with the plan to move to a more southern state - and NC is on his mind. I've warned him that he's going to have a culture shock when he moves, but I don't think he quite understands what I mean, nor do I think he realizes how much of his personality is rooted in New York State, even though he's not a fan of living there at all.
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You know why. Trying to set my self up for a career change.
 
So you listed it and in 4 days it sold cash in hand? If just a contract break the contract and give earnest money back. Will likely be cheaper than your options. Then either keep house, or relist for higher since it sold so quick with a contingency giving you time to find another place.
 
SoonerAviator said:
Interest deduction only helps if you have enough to break through the standard deduction threshold. Going to be much harder to do for most people this year due to the increase in standard deduction to $12K/single or $24K/married-joint. I don't have mortgage interest that comes anywhere near that with current dependents.
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I’m not speaking to specifics , just the rationale.
 
simtech said:
So you listed it and in 4 days it sold cash in hand? If just a contract break the contract and give earnest money back. Will likely be cheaper than your options. Then either keep house, or relist for higher since it sold so quick with a contingency giving you time to find another place.
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No cash but under contract. More time isn’t really the answer. It’s not that there is no vacancy, there are literally no apartment buildings where I would prefer to be. I’m also not in panic mode. I’ve found a place that is cheaper than my mortgage was it’s just a 20 minute drive to work and airport where I was hoping to be 5-10
 
Grum.Man said:
As I said, didn’t think it would sell within 4 days of putting it on Facebook. I also made the incorrect assumption that I could rent an apartment in one of the 4-5 brand new complexes in my area.
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Well, every life lesson has a tuition payment, right?

Also -- Obviously, you priced it too low. I've had people brag to me that their house sold within a couple days of being listed. If my house sold in the first week, I'd fire my realtor. All that means to me is, they could have tacked on 10-15% and waited for someone who really wanted it. You can always drop the price if needed.
 
I am worried it want appraise for what I sold it for so listing it higher isn’t likely to make a difference when it comes to signing the dotted line
 
SkyDog58 said:
Oh duh. I forgot you were at 8A7. Mocksville is sort of small. Are the outer western regions of Winston-Salem too long of a drive?
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No about the same as my current commute. Was just hoping to get closer since I was going to have to be in an apartment. Looks like I’ll end up in Clemmons.
 
Grum.Man said:
I am worried it want appraise for what I sold it for so listing it higher isn’t likely to make a difference when it comes to signing the dotted line
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What ive learned is unless the house is trash it will always appraise. I mean someone was willing to pay for it so the market will bare it so it will appraise. Trust me I bought a house that I thought no way would appraise and that was my way to get it cheaper. Sure enough it appraised for $500 over contract price. Oh I was mad but turned out to still be a good investment. haha sigh..
 
Grum.Man said:
And by the way, since I have done well for my self I get rapped on taxes especially being single with no kids. It will be even worse next year not having a mortgage to write off. It ****es me off even more to ride through the complexes and see new trucks and suvs parked out front that even I couldn't afford.
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Think it's bad being single, try getting married to someone who also has a good income. There is a tax penalty on getting married. Oh, and don't worry about the new trucks and suv's, they can pay the lease on those with the money they save by having a free cell phone.
 
Lease a commercial space, park a mobile home inside. Watch out for zoning gotchas, depending on where you live.
 
simtech said:
What ive learned is unless the house is trash it will always appraise. I mean someone was willing to pay for it so the market will bare it so it will appraise. Trust me I bought a house that I thought no way would appraise and that was my way to get it cheaper. Sure enough it appraised for $500 over contract price. Oh I was mad but turned out to still be a good investment. haha sigh..
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Not true. Sold a very nice house for a premium. Two appraisals came in below the accepted offer price.


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I get a lot of offers to sell my house, not so many to buy something for a reasonable price where I want to live.

Renting can be cheaper depending on the area. 5 years is probably on the edge of purchasing being a consideration for me, just due to the transactional costs and headaches. The problem with appreciation is affording a new place, that may not be how you like it... then the home improvement cycle starts again.
 
Buy a hangar at the local airport, build an apartment inside, live with your aircraft and motorhome.
There is a 80X80 condo hangar at AWO for $375,000, and it's zoned residential, has city water, gas, electric.
 
Grum.Man said:
My backup was to park a 5th wheel at a local campground. That dried up quickly when they said it was $800.00 a month for a stupid camp site!
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That's only 26.00 per night, we normally pay 35-50 per night traveling.
 
Grum.Man said:
As I said, didn’t think it would sell within 4 days of putting it on Facebook. I also made the incorrect assumption that I could rent an apartment in one of the 4-5 brand new complexes in my area.
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Wait, you sold your house on Facebook?
 
I was thinking "Wait, you sold your house without a descent plan of where you would be moving to?"
 
When I relocated, work,provided a place to live for a while as my old home was for sale. When I had to give up the free place, it wqs much cheaper to buy a condo than rent anything even in the hood.

Check out local condos, you maynfind somethung tolerable forma decent price.

Past moves have left me in the lurch apartment-wise, too. Hey, that was also in NC . . . . . No desire to live in an apartment where rent is a percentage of my income, parking places are assigned and all visitors must sign in and out. That's just modern welfare.
 
Grum.Man said:
So I feel the need to vent. I realize I am more fortunate than a lot of people when it comes to money and material things yet I can't help but feel constantly screwed. For example, I just sold my house. It sold much much quicker than I expected so now I am scrambling to find a place to move for a while. I was hoping to move closer to work and the airport but it does not appear to be an option. There are 5 new apartment complexes built in my area and all 5 impose income limits to live there. The only other apartments in the county are drug riddled, sex trafficking, theft sites. So because I made an effort in life to get an education and a good job I have to pay ridiculous rent prices 30 minutes away. And by the way, since I have done well for my self I get rapped on taxes especially being single with no kids. It will be even worse next year not having a mortgage to write off. It ****es me off even more to ride through the complexes and see new trucks and suvs parked out front that even I couldn't afford.
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Here we go, another poor airplane owner. Buy a motor home and live at the airport.
 
Ummm, did you give any thought to renting out your place instead of selling it? Contract with a local licensed broker that handles rentals, get enough to cover the mortgage, taxes, etc. and a bit for coffee, then go find someplace in your own time.
 
Lantraxco said:
Ummm, did you give any thought to renting out your place instead of selling it? Contract with a local licensed broker that handles rentals, get enough to cover the mortgage, taxes, etc. and a bit for coffee, then go find someplace in your own time.
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Yes I did. By the time I paid broker fees, someone to do any repairs in my absence, and a pool cleaner I would be in the negative. Then I have the risk of getting sued should someone drown them self or they destroy my newly remodeled home. No thanks!
 
Hank S said:
When I relocated, work,provided a place to live for a while as my old home was for sale. When I had to give up the free place, it wqs much cheaper to buy a condo than rent anything even in the hood.

Check out local condos, you maynfind somethung tolerable forma decent price.

Past moves have left me in the lurch apartment-wise, too. Hey, that was also in NC . . . . . No desire to live in an apartment where rent is a percentage of my income, parking places are assigned and all visitors must sign in and out. That's just modern welfare.
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I don’t want to be tied down to anything. I suspect the housing market will tank next year so I wanted out while the getting was good.
 
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