$700 a month?! holy ****. what is your payment if you don't mind me asking. we bought our first house (young married with a baby) 2 years ago. payment is $980. am I a cheap ass???
Housing market
- Thread starter simply1
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$700 a month?! holy ****. what is your payment if you don't mind me asking. we bought our first house (young married with a baby) 2 years ago. payment is $980. am I a cheap ass???
Chicago has notoriously high real estate prices, plus they love to play the “raise your taxes” game, so you’re constantly on defense trying to fend off a hike. Everything is expensive here and I talk to my wife about how the cost of living in Iowa is WAY more manageable, we’d consider living in Iowa if the jobs were there.
Anyway, we pay $4,100/mo for our 6-year-old, 5 bed, 5 bath home. It’s a fantastic house.
Are you a cheap ass? Hell no. I was on the exact path you are right now, life just happens, jobs change, you save, make some good investments and hold a degree from The Iowa State University. Keep doin’ what you’re doin’.
$980 doesn't mean you're a cheap ass. Just means you live in an area with more reasonable prices.
Last 2 places I've been you couldn't rent a bus stop for $980. So enjoy it.
This got me thinking. I am also in Illinois. Over 40% of my monthly house payment is for taxes.
So. **** Illinois.
Im in Des Moines burbs and my taxes are 30% of my monthly payment but Im on a 15 year loan. If I would be on a 30 year loan that % would be quite a bit higher.
I refinanced out of a 15. With rates where they are (sub 3%) on the 30 it gives me more wiggle room.
I can still make a 15 yr payment if I want, but I'm making more than 3% in the stock market...
And $3000/mo in daycare expenses are right around the corner. Jeesh.
But really the bottom line here is **** Illinois
lincoln, ne here. 38% of payment goes to taxes/insurance. child care is 1028$ a month (this is university daycare, best possible)
Our P Taxes are 45% of our payment. Rural craphole town. Built in 2003 and after we refinanced a few years ago we have 4 years left.
edit also: we don’t escrow so if we lumped stuff together it would be closer to a third.
edit also: we don’t escrow so if we lumped stuff together it would be closer to a third.
My taxes in Illinois tripled from California. This place can **** way the **** off.
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Cruising through Menards and a 2x4x8’ was $12.50! Last time I purchased them I want to say the price was maybe $2.50 each max.
Flipping nuts!
The weather is outstanding all year!
Low taxes!
Great roads!
Friendly people and a TON of things to do!
Natural beauty like Starved Rock!
Are you sold yet? Would you like to buy a beautiful home in a highly desirable suburb?!?
Read recently that our county has two week's worth of inventory. It's crazy. We've had a couple inquiries about selling; we should entertain just to see how much it's gone up in 6 yrs but I have no desire to move. Or enter into what looks like a total cluster.
Probably but in California we make up for high state income state income taxes, high sales tax, very high gas taxes. So they get you one way or another.
I shudder thinking of the price of gas there right now... its over $3 in CO and going higher for sure
Parts of LA are fun though
This is where we’re at. We were planning to move in the next 5 years as kids get bigger.
We’d love to sell at the top now but then where do you go? Rent for a couple years and hope the market comes back down? That’s not feasible.
My house was on MLS for a total of 4 hours before receiving a full price cash offer with no contingencies. I was hoping for a bidding war, but have found out that in IA if you receive a full price offer with no contingencies you're required to accept it. So basically, while I bumped the price really really high, I priced it too low. Regardless, I'm pretty happy it sold.
This thread has kind of shocked me on property taxes. I knew Chicago had higher rates than LA because I paid them both, but shocked the Iowa rates are typically higher than mine. The total amount of property tax I pay is still crazy high because the homes are so expensive, but anecdotally it seems I'm paying among the lowest % property tax in the thread.
Owning a car in chicago also cooked out to being about $1000/year more expensive than LA because of the insane privatized parking scam, city stickers, toll rates etc...
