Author
Topic: Retirement / What am I working for?
(Read 7976 times)

FearlessF · « **Reply #252 on:** **Today** at 09:23:53 AM »

yup, I always tell my buddies I'd have a much larger place but I wouldn't want to vacuum that much carpet

that was my Father's line about Cadillacs and big cars - took too much water the wash them

Cincydawg · « **Reply #253 on:** **Today** at 09:25:11 AM »

Quote from: 847badgerfan on Today at 09:16:13 AM

I would not do a condo anywhere. HOA's are getting out of control.

HOAs can be a serious issue, no doubt. One problem is a new condo starts out with the developer paying into the reserve fund, and they tend to short it obviously. As theh condos sell and owners take over, they discover 4-5-6 years down the road they don't have enough in reserves and the monthly payment goes sjyward.

Our previous HOA board spent a lot of money on aesthetics, basically, and were voted out, and the new board is now spending a lot of money on infrastructure, which is probably needed in a 33 year old building. I mostly ignore them, my wife is intensely interested.

She doesn't really get my lack of interest. I personally like condo life, I lived in a condo we bought once I got away from apartment living. It worked out OK.

utee94 · « **Reply #254 on:** **Today** at 09:39:56 AM »

I'm good with our HOA. It provides and maintains amenities that I value, and it keeps down the trashy-neighbor quotient, which was a serious problem in our previous neighborhood in Austin proper.

847badgerfan · « **Reply #255 on:** **Today** at 09:45:17 AM »

Quote from: utee94 on Today at 09:39:56 AM

I'm good with our HOA. It provides and maintains amenities that I value, and it keeps down the trashy-neighbor quotient, which was a serious problem in our previous neighborhood in Austin proper.

I'm fine with ours too. It's the condo ones that I'm out on.

$400/month gets us lawn care, landscaping care, irrigation, fiber internet, TV, and infrastructure maintenance. It's actually pretty low for what we get, but I'm not gonna say anything about it...

Cincydawg · « **Reply #256 on:** **Today** at 09:55:04 AM »

Ours includes water and hot water, there is apparently an NG water heater on the roof. I had thought the "concierge desk" was a needless amenity earlier, but I see value in it now, though I'm sure it's a chunk of my HOA to pay them for 24/7. This area of town was "sketchy" when the building was built.

The main thing now is replacing the water heater, which has been done, and the backup generator, and some other stuff. They replaced the roof just before we moved in.

There are some condo buildings next to us built in the 1920s, the buildings look OK from the outside, but I'd guess they have some issues depending. One item is they offer no or very limited parking.

847badgerfan · « **Reply #257 on:** **Today** at 01:00:43 PM »

These units are in my development. They are nice, but most need updating. And look at that HOA. Plus, after Ian, each owner was hit with a $70K special assessment for repairs. These buildings took a big hit.

This guy is NOT getting $895K for this place. No way.

betarhoalphadelta · « **Reply #258 on:** **Today** at 02:02:45 PM »

My old house just went up for sale. I bought it for $470K at the end of 2010. It's listed for $989K.

847badgerfan · « **Reply #259 on:** **Today** at 02:45:52 PM »

Quote from: betarhoalphadelta on Today at 02:02:45 PM

My old house just went up for sale. I bought it for $470K at the end of 2010. It's listed for $989K.

We are in a partnership that owns 48 houses in Compton, Long Beach and Carson. We bought in the crash, and they have been rented since, at close to 100 percent.

Of course, we got no rent for a long while during the Covid scam, so we took that hit. But the houses are worth 2.5X what they were in 2008.

We're going to sell the portfolio soon. Should be a nice payday into our self-directed IRA accounts.

bayareabadger · « **Reply #260 on:** **Today** at 03:01:35 PM »

Quote from: 847badgerfan on Today at 08:05:29 AM

Modest to me may be different than modest to you.

Tough question, but we could have bought a house for 3-4 times more than what we paid for this one.

For us, modest.

Ahhh, so a modest home isn’t really about a modest home as much as a mindset of not spending than anything to do with a home itself.

It also mildly undercuts some ideas about housing choice as a proxy for fiscal responsibility. If I want to be utee’s neighbor, chances are even the smallest structure won’t be particularly modest price wise (assuming the Austin price bo is affecting where he lives. And if that’s the case, he is going to be in for quite a windfall selling at gigantic sucker)

Also, man, the HOA thing is nuts. In my fast growing southern city, I’m gonna have to shell out a ton just to avoid one. And chances are, I probably won’t.

847badgerfan · « **Reply #261 on:** **Today** at 03:38:31 PM »

Quote from: bayareabadger on Today at 03:01:35 PM

Ahhh, so a modest home isn’t really about a modest home as much as a mindset of not spending than anything to do with a home itself.

It also mildly undercuts some ideas about housing choice as a proxy for fiscal responsibility. If I want to be utee’s neighbor, chances are even the smallest structure won’t be particularly modest price wise (assuming the Austin price bo is affecting where he lives. And if that’s the case, he is going to be in for quite a windfall selling at gigantic sucker)

Also, man, the HOA thing is nuts. In my fast growing southern city, I’m gonna have to shell out a ton just to avoid one. And chances are, I probably won’t.

Won't you please, won't you please, please won't you be my neighbor.

bayareabadger · « **Reply #262 on:** **Today** at 03:50:21 PM »

Quote from: 847badgerfan on Today at 03:38:31 PM

Won't you please, won't you please, please won't you be my neighbor.

A quote that our Texan friend has not uttered in years

utee94 · « **Reply #263 on:** **Today** at 04:00:49 PM »

Quote from: bayareabadger on Today at 03:01:35 PM

Ahhh, so a modest home isn’t really about a modest home as much as a mindset of not spending than anything to do with a home itself.

It also mildly undercuts some ideas about housing choice as a proxy for fiscal responsibility. If I want to be utee’s neighbor, chances are even the smallest structure won’t be particularly modest price wise (assuming the Austin price bo is affecting where he lives. And if that’s the case, he is going to be in for quite a windfall selling at gigantic sucker)

Also, man, the HOA thing is nuts. In my fast growing southern city, I’m gonna have to shell out a ton just to avoid one. And chances are, I probably won’t.

Yeah I think the idea of a "modest" home has to be relative, almost by definition. Because it depends on your means. So far Fearless has posted up the details of the most "modest" house mentioned, and I'd certainly consider that modest.

But at the same time, I also consider my first home that I bought, which was a 1400 sqft 3-2 stick-framed tract home in a (then) far-out suburb, to be rather modest. Once our second kid was walking, it got pretty small pretty quickly. Of course we bought that home in 2001 for around $100,000 and could sell it today for around $500,000, so not sure how that counts on the "modesty" scale. We've kept it as a rental and it is appreciating well for us, so far.

Our current home, the ridiculously too-large 3800 sqft monster, we bought in 2012 for around $400,000, and an identical home around the block recently sold for a bit over $1M. It's definitely following the overall Austin area's trajectory as far as home prices. I'd never claim anything modest about this house, but I expect Bill Gates would find it to be pretty modest. It's all relative.

utee94 · « **Reply #264 on:** **Today** at 04:01:31 PM »

Quote from: bayareabadger on Today at 03:50:21 PM

A quote that our Texan friend has not uttered in years

Amen, brutha, and Thank You For Your Support.

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Topic: Retirement / What am I working for?

FearlessF

Re: Retirement / What am I working for?

Cincydawg

Re: Retirement / What am I working for?

utee94

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847badgerfan

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Cincydawg

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847badgerfan

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betarhoalphadelta

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847badgerfan

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bayareabadger

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847badgerfan

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bayareabadger

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utee94

Re: Retirement / What am I working for?

utee94

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