Search found 210 matches

by steadyhand
Mon Feb 26, 2024 1:02 pm
Forum: Personal Consumer Issues
Topic: Roof repair - reasonable?
Replies: 40
Views: 3569

Re: Roof repair - reasonable?

Somewhat similar work I had done recently was in the 1k range. Essentially it was a days work 6-7 hours for two people with some materials but not a lot. See if they can justify based on man hours to some extent.
by steadyhand
Wed Feb 21, 2024 6:31 am
Forum: Personal Finance (Not Investing)
Topic: House purchase questions
Replies: 22
Views: 2454

Re: House purchase questions

University jobs are not what they used to be. These days it is common for tenured professors to move as well every 5-10 years. You may want to not think of this next home as a forever home if that helps in planning.
by steadyhand
Mon Jan 29, 2024 8:06 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

I would choose UIUC. Much better reputation for research and graduate school if that is something in the pipeline. I can only think of sports when I think of UF unfortunately. However, the tuition difference makes me feel they are not so different either.
by steadyhand
Wed Jan 24, 2024 6:37 am
Forum: Personal Consumer Issues
Topic: Return My New Apple Watch?
Replies: 83
Views: 6305

Re: Return My New Apple Watch?

I use it only in low power mode so I can see what time it is in the middle of the night. It has a nice fluorescent time display that is easy to see in the dark. This way I also do not have to charge it for multiple weeks. Mine was super old gen 2 that I use only for this purpose.
by steadyhand
Wed Jan 17, 2024 6:48 am
Forum: Personal Consumer Issues
Topic: "Floor" squeaks coming from wall?
Replies: 9
Views: 1270

Re: "Floor" squeaks coming from wall?

A haunted house would be an easier theory to wrap your head around than finding the source of squeaks :mrgreen:
by steadyhand
Wed Dec 06, 2023 6:38 am
Forum: Personal Consumer Issues
Topic: Yellow Lens Glasses for Night Vision?
Replies: 7
Views: 1110

Re: Yellow Lens Glasses for Night Vision?

I did try using a cheap clip on for a few times and things did appear a little bit brighter to me. I do not drive often at night for long distances to be able to say it is definitely a positive I would keep going back to. Worth trying I would say.
by steadyhand
Mon Dec 04, 2023 9:30 pm
Forum: Personal Consumer Issues
Topic: House with three HVAC Systems
Replies: 20
Views: 2652

Re: House with three HVAC Systems

Thanks all. That confirms my hunch of not trying to do tuneups except changing filters and cleaning around. For those on one system, I can vouch for the increase in comfort level. No hot cold spots!
by steadyhand
Mon Dec 04, 2023 12:58 pm
Forum: Personal Consumer Issues
Topic: House with three HVAC Systems
Replies: 20
Views: 2652

House with three HVAC Systems

We recently bought and moved into a home in eastern PA. It is a colonial with two floors totaling 3600sq. ft. with an unfinished daylight basement. Nothing too big for the area from what I see. I found that the home has three HVAC systems (not just three zones) all about 14 years old. We have found the home quite comfortable probably because these three systems run to avoid any hot/cold spots. My previous home was a single HVAC with a single zone, so I am not used to to having three thermostats let alone three systems. I had called a guy to do our winter tune-up and realized they now want three times the cost for a single HVAC! I am thinking of negotiating these from now on but wanted some thoughts from others who have a similar setup. With...
by steadyhand
Wed Nov 29, 2023 1:00 pm
Forum: Personal Consumer Issues
Topic: Eurail pass or not? Central Europe trip in summer
Replies: 24
Views: 2225

Re: Eurail pass or not? Central Europe trip in summer

Got it, thanks all. I will pare down what we have and post for feedback once it becomes more concrete. I am glad I asked early enough when things are still easy to mould.
by steadyhand
Tue Nov 28, 2023 6:45 pm
Forum: Personal Consumer Issues
Topic: Eurail pass or not? Central Europe trip in summer
Replies: 24
Views: 2225

Re: Eurail pass or not? Central Europe trip in summer

Thanks all. I looked into some of the point to point trips myself and found it only cost on average about 30-50 euro per adult (shorter trips were 10-20 euro). Our teens were free! This definitely tilts things in favor of the point to point because the Eurail pass is not free for them (at a discount but not negligible). If we were a couple with no children, the pass may be more useful, especially during low tourist season beyond or before summer.
by steadyhand
Tue Nov 28, 2023 4:07 pm
Forum: Personal Consumer Issues
Topic: Eurail pass or not? Central Europe trip in summer
Replies: 24
Views: 2225

Re: Eurail pass or not? Central Europe trip in summer

The one thing I am unsure about is if families like us will have more trouble using the eurail pass over singles or couples who can essentially be backpackers that stay in hostels without much planning. In our case, we will be planning out most of the things and using these passes just as a way to make the total cost of travel less.
by steadyhand
Tue Nov 28, 2023 3:29 pm
Forum: Personal Consumer Issues
Topic: Eurail pass or not? Central Europe trip in summer
Replies: 24
Views: 2225

Eurail pass or not? Central Europe trip in summer

Planning a 18-20 day Central Europe trip next summer in early July with family (we are two adults and two teens). Plan to visit Amsterdam, Brussels, Berlin, Munich, Vienna and Prague in some order. If time allows, may also go to Bern. Given there are is 20-25% discount on Eurail passes now(price for 10 travel days in a month for about $380 each), would anyone advise buying them? I have heard that Central Europe may be a better use case for these compared to France and Italy and need for reservations are less frequent and it may be worth it over point to point tickets. From each of these cities we may have some day trips also which we were hoping to use these to go and come back.
by steadyhand
Tue Oct 10, 2023 6:25 pm
Forum: Personal Consumer Issues
Topic: Feasible to fly with 2.5 and 1.5 year olds?
Replies: 64
Views: 5218

Re: Feasible to fly with 2.5 and 1.5 year olds?

We did this with two kids under 2 and it was not easy. If it is just one flight, even if long, then it is doable. We had two other connections which made it difficult. It can be easier if one child kids do not care which parent attends to them. In our case, both wanted to be taken care by Mom and that was the biggest challenge. I would do it again if I had to if it was not the season with flu and other issues that can plague kids.
by steadyhand
Thu Jul 27, 2023 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Basement finish-wise choice financially?
Replies: 24
Views: 2929

Re: Basement finish-wise choice financially?

Finished basements also lead to property tax increases in many places. Market value increase is not always guaranteed for a sale.
by steadyhand
Tue Jul 25, 2023 5:26 pm
Forum: Personal Consumer Issues
Topic: Need New HVAC 5 Ton system
Replies: 72
Views: 7438

Re: Need New HVAC 5 Ton system

Happy Lennox customer here. Made our home very comfortable with a 5 ton unit. Variable speed blower really helped. Only knock may be that it can get loud if you have a bedroom just next to the unit or above.
by steadyhand
Wed Jul 19, 2023 3:08 pm
Forum: Personal Consumer Issues
Topic: Aligners as a way to spend out Limited FSA?
Replies: 4
Views: 490

Re: Aligners as a way to spend out Limited FSA?

Wanted to wrap this up saying I just decided to buy multiple prescription glasses for multiple people on the family.
by steadyhand
Tue Jul 18, 2023 8:18 am
Forum: Personal Consumer Issues
Topic: Aligners as a way to spend out Limited FSA?
Replies: 4
Views: 490

Re: Aligners as a way to spend out Limited FSA?

Any dentists out here? Or others?
by steadyhand
Mon Jul 17, 2023 10:23 pm
Forum: Personal Consumer Issues
Topic: Aligners as a way to spend out Limited FSA?
Replies: 4
Views: 490

Re: Aligners as a way to spend out Limited FSA?

Wondering if the new destination location will be willing to do some kind of an online consultation, bill me first for procedures before funds expire, and we get the work done when we reach the location later next month. That way continuity is preserved.
by steadyhand
Mon Jul 17, 2023 8:02 pm
Forum: Personal Consumer Issues
Topic: Aligners as a way to spend out Limited FSA?
Replies: 4
Views: 490

Aligners as a way to spend out Limited FSA?

I will be leaving my employer in about two weeks to a new state over 1000 miles out. I just found out today that my limited purpose FSA will expire by the end of the month. It has a balance of $2750 in it. What would be the best way to finish this off and not leave it with my previous employer. My two children need aligners and that was the reason I had contributed to this FSA. When I realized I was moving, we did not go ahead and do their aligners at the dentist thinking any repeat consultation will be with another doctor in another state and the costs may not even be shared between the two. But now since I have to finish off these funds, would it be wise to still for these aligners and then somehow have them transfer records and continue ...
by steadyhand
Mon Jul 10, 2023 8:08 pm
Forum: Personal Consumer Issues
Topic: Bid a house with Escalation clause
Replies: 27
Views: 2761

Re: Bid a house with Escalation clause

I just did this exact thing. Thankfully no other offers came in. The key with escalation clause is to start high enough else the differential may not be attractive to seller all things equal and of other party waives inspection completely. Account for the fact that sellers like a No inspection clause and it may be worth 10-20k for them plus more certainty. So keep escalation over others high too like 10k or even 20k.
by steadyhand
Sat Jun 24, 2023 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

I am struggling to find leases less than one year. Anyone know what may be the best option for those house hunting when renting? I assume a VRBO or AirBnB stay will not qualify my kids to the local school district.
by steadyhand
Fri Jun 23, 2023 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

We are [later] in the process of a similar move. We debated very similar options to what you've considered. We happened to luck out with an acquaintance sticking their house up for rent in our new location, so we took that and moved up our timeline. Sold our previous house first, moved into the rental (with the majority of our items in storage), and found a house in 2 weeks of hunting after we arrived. Currently waiting for closing. It's working out well for us, so I would suggest something similar for you- find an Airbnb or similar short term rental (furnished) in your new location so you can sell your current home in this seller's market and get those funds unlocked for your down payment and avoid a selling contingency on your offers. Is...
by steadyhand
Fri Jun 23, 2023 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

We are [later] in the process of a similar move. We debated very similar options to what you've considered. We happened to luck out with an acquaintance sticking their house up for rent in our new location, so we took that and moved up our timeline. Sold our previous house first, moved into the rental (with the majority of our items in storage), and found a house in 2 weeks of hunting after we arrived. Currently waiting for closing. It's working out well for us, so I would suggest something similar for you- find an Airbnb or similar short term rental (furnished) in your new location so you can sell your current home in this seller's market and get those funds unlocked for your down payment and avoid a selling contingency on your offers. Th...
by steadyhand
Wed Jun 21, 2023 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Moving mechanics - with time running out

Here is the only strong advice I'll give you that isn't just my own prejudices on display - people make a lot of stupid decisions when they feel trapped, and it seems to me from your posts that you are starting to feel trapped and desperate. If that's true, find a way to step back, take a breath, and look at the situation with calm, fresh eyes. Whatever you decide, make sure it actually represents your values and desires, not some reflexive action because of the illusion of a lack of options. Hang in there. :D Founding Father The above is OUTSTANDING advice for both this specific situation and life in general. Very well said. Totally agree. This is the kind of wisdom that keeps bringing me back to this forum for every major life decision. ...
by steadyhand
Tue Jun 20, 2023 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

Carl53 wrote: Tue Jun 20, 2023 1:41 pm While I hate moving, I'd suggest going with option 1. It offers the most flexibility while keeping your family intact. One concern would be getting a rental in a school district where you will end up.
Yes that is a good point. Larger rental homes are in limited supply and if you add in the constraint of school district, it gets more narrower.
by steadyhand
Tue Jun 20, 2023 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Moving mechanics - with time running out

Bumping up. Also changed the title to reflect the evolution of the topic.
by steadyhand
Mon Jun 19, 2023 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Moving mechanics - with time running out

So I am still where I started. Put in another offer this weekend, above asking price, and again it was not accepted. I was the highest price bidder, but another offer waived inspections and that is what the seller preferred. I am now slowly running out of time where I feel I may not be able to find a house and close before the next school year starts. That leaves me with three choices, none of which I was looking forward to. I am hoping some of you can help me decide which would be best. We are struggling a bit to pick between all of these difficult choices. Option 1) Given the lack of homes coming on the market, and the difficulty in getting an offer accepted, rent a large apartment or home for the next year and sell current home. Current ...
by steadyhand
Sun Jun 18, 2023 9:34 am
Forum: Personal Consumer Issues
Topic: Narrowed down to buying new Suburu Forester or Rav4. Planning on keeping it 10 years. Any recommendations?
Replies: 59
Views: 7149

Re: Narrowed down to buying new Suburu Forester or Rav4. Planning on keeping it 10 years. Any recommendations?

We tested both and went with the RAV4. Rock solid for 80k miles now. We found the driving assist systems with the Toyota more capable and comes standard on all trims. Can’t imagine driving without lane centering and dynamic radar cruise anymore. Subaru also has some of this in their eyesight system but I found it to be of less caliber and not standard on all trims at the time.
by steadyhand
Tue Jun 06, 2023 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

This market makes it difficult for contingent offers. We put in a non contingent bid for this last house for 6k over asking and still lost out to a cash buyer.
by steadyhand
Mon Jun 05, 2023 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

@steadyhand Is this Pennsylvania? I saw a reference to PA. My adult daughter and her husband bought a house in the Philadelphia suburbs last year, and there were stunning differences in property taxes based on township. The homes with the higher property taxes (Drexel Hill) did not have better schools. Also, on the subject of whether to rent first, I’d like to add a comment. We were a military family and bought 3x over the years. Each time, we bought based on a very short visit of 3 days. Each time it worked out fine. The first two houses were owned for only 3 years before the next move. There were no losses. We made sure to buy where re-sale would be fairly easy (good demand). In each case we bought at about the median price for the zip c...
by steadyhand
Sun Jun 04, 2023 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

Most lots are same size or upto 0.33 acre. Acreage is at a premium in that area.

I did notice that utility costs are higher in the northeast and I perhaps have to budget an average of 600 per month perhaps due high heating costs in colder months. This home is heated through natural gas furnaces.
by steadyhand
Sun Jun 04, 2023 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

I asked the same question about why property taxes are lower. I was told assessed value is based on land value and what is on it in terms of materials etc. and not as much on market value of the entire home. Does this make sense? I don’t know if this is PA specific. This property is older, has just less than 0.2 acre lot, just above 3k sq. ft and no luxury improvements like a pool. Others had a lot more sq. ft, and luxury type amenties. This property is in a quiet neighborhood with no noises as such except some rush hour traffic cutting through to avoid jams on main arteries. There is vibrant dining scene about a mile away that keeps values high. I feel this may be the most bogleheadish of properties given that after the initial home price ...
by steadyhand
Sun Jun 04, 2023 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

Schools are ok; not a suburban small school district with high ratings, but a diverse mix and large schools. Our kids will be fine, but others may prefer elsewhere. A good university nearby should always keep the area vibrant.
by steadyhand
Sun Jun 04, 2023 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this home?

Ok as the story continues, another home hit the market. We haven't pulled the trigger yet. This one has no swimming pool, is only 3200 sq. ft in size, charming and slightly older (but no obvious fixing up needed) and is in a perfect walkable neighborhood close to work and dining etc. We like everything about this compared to the other two houses. Taxes are lower as well (only 8k/year). However for all these positive things, the listing price is $950k. Based on what I shared before (300k+ income), 150k downpayment available in cash right now, additional 300k+ equity in existing home, can we make this work? I think it will be a 450-500k eventual mortgage once our home sells. Given recent sals in this neighborhood, it is also possible that the...
by steadyhand
Mon May 29, 2023 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

This market has anomalies. That 6000sq ft was also near a high voltage line. School district is also not the best. We are ok with it because of a charter school option.
by steadyhand
Mon May 29, 2023 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

I have left the location today. The home we liked with the pool will hit the market later this week (realtor got us in early as we were leaving town). My realtor felt it was a bit overpriced given comps and has suggested we wait a bit. She thinks the sellers won’t budge much the first week or two. Since we don’t want pay top dollar because of the pool, she suggests waiting a bit and offering a much lower price. That way if we get the home, fewer regrets. Gives us some time to see what else hits the market also. If this home is still the one we like in 2 weeks we may start making offers. Willing to let it go for now.
by steadyhand
Sun May 28, 2023 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

stoptothink wrote: Sun May 28, 2023 7:46 pm
It's incredible how difficult it is to find a "normal" sized SFH homes these days. We're regularly looking as we intend to upgrade from our townhome in the next few years (are financially prepared to do it tomorrow) and it is next to impossible to find a SFH home <3k sq. ft. Our 1480 sq. ft townhome is plenty of space for our family of 4, we ideally would want ~2000 (we want a small dedicated TV/theatre room and maybe another spare bedroom) and it simply does not exist.
Yes true. Only small ones I could find that are nice are patio homes or twinhomes association dues.
by steadyhand
Sun May 28, 2023 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

Ok so I am finally at the location and have grown wary of the super large (sq. ft. home). Another desirable home just hit the market which is only 4000sq. ft and is priced around 750k (150k less). However, this one has a in-ground pool probably built 15-20 years back. I know (following other Boglehead threads) that pool maintenance is significant cost of time and effort (3k average perhaps a year even if DIY most things).Being in the Northeast, it will only get used about 3-4 months of the year. Filling it in may cost 20-25k. So how do these two compare? If you had to pick one, which one might make more sense. Of course neither is an answer too. Sounds like you like the house, with the exception being that it has a pool and costs 25k to fi...
by steadyhand
Fri May 26, 2023 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

I think suburbia is full of McMansions especially if it is affordable. I am seeing that nicely updated homes also tend to be larger. Only other option for a nicely updated home (updated kitchen, rooms) is a condo or townhome which is not something I look forward to with a family of 4. I think those who have moved recently and have kids will probably have seen this trend. I can understand those who have stayed in that same home for a long time will get used to even a small space and also will have developed an attachment. Moving from a nicely updated home in the midwest to the northeast, I am willing to pay more, but going to something not so updated is difficult. And if updated = large size, then that is what I am running into.
by steadyhand
Fri May 26, 2023 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

Ok so I am finally at the location and have grown wary of the super large (sq. ft. home). Another desirable home just hit the market which is only 4000sq. ft and is priced around 750k (150k less). However, this one has a in-ground pool probably built 15-20 years back. I know (following other Boglehead threads) that pool maintenance is significant cost of time and effort (3k average perhaps a year even if DIY most things).Being in the Northeast, it will only get used about 3-4 months of the year. Filling it in may cost 20-25k. So how do these two compare? If you had to pick one, which one might make more sense. Of course neither is an answer too.
by steadyhand
Wed May 24, 2023 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

I do not have a FIRE goal as such but I know I want a balance of quality of life and building towards retirement. I love my job enough to keep it going if I have to until I am comfortable. So yes, you are correct that answering subject line question is difficult if I state goals like that. I guess what I meant is what should I be wary of with such a purchase and I think I got a lot of viewpoints that help.
by steadyhand
Sun May 21, 2023 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

... If you had not mentioned the square footage of the house I think this thread would have been very different. I don't know your housing market but if you could get a smaller house for $700K that is only $200K less which is not real significant in your situation. In the worst case scenario you would have a lot of ways to recover from a $200K "mistake" if it turns out to be a "mistake". The non-financial aspects of living in a house that is too big would a more important concern to me than the incremental price difference of the large house. Agree. If the basement were left unfinished, perhaps this thread would be different too. I assume that the finished basement is causing much of the increased heating/cooling, and a...
by steadyhand
Sun May 21, 2023 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

.. Given the presumptive cost of living increase between your current location and the new location, what is the new take home pay percentage increase after the increase in expenses of the proposed new house, coupled with the cost of living increase once you move to the Northeast? ... I believe it is not always about the cost of living increase. We see a clear quality of life increase as well in correlation with the cost of living increase. As mentioned in a previous post, my goal is not just to get to FIRE in the shortest possible timeframe. We are happy to reach FIRE later in life as long as we enjoy where we live and work. Cost of living is higher in certain places in the country for a reason. I have lived in the Northeast before for 5 ...
by steadyhand
Sun May 21, 2023 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

Yes I did get a monster raise (40%) and long term it should compensate for short term pains. The reason I wanted to compromise on tax advantaged space is because we actually have a lot of it (close to 50k each every year). I also don’t see the point of retiring too early and living a very frugal life till then.
by steadyhand
Sun May 21, 2023 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

I think I have good amounts of viewpoints. Thanks everyone! A related question I have is should I stop all my “extra” contributions I was making to my retirement accounts, backdoor Roth, IBonds, taxable given that I will need that cash for reducing the amount I will need to borrow at high interest rates? By extra I meant tax advantaged space beyond what the employer typically matches for. A case can be made to keep going with IBonds and Backdoor Roth I suppose. Also, I assume I should sell index funds in taxable accounts on a periodic basis (reverse dollar cost average). Under my current low interest home mortgage, I saw no point in making extra payments to finish the loan early. But in current climate, I see that flipping and wanted to pre...
by steadyhand
Thu May 18, 2023 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

We went through a similar situation a number of years ago. Honestly, there is no easy answer, and to a certain extent, you need to have some luck on your side. …… I get the people who say to rent for a year... learn the area. Yes, that is a very logical approach so you can hone in on what you might like or not like. However, I personally felt the the downside risks (having to move twice, having kids change schools twice, etc) outweighed the risk of making the wrong snap decision. In the end, we trusted our research and our gut that we picked the right house. And we got lucky that we did! I am sure this doesn't help you at all, but I wanted to just share our experience and thought process in case there is a chance you find it to be useful. ...
by steadyhand
Thu May 18, 2023 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

humblecoder wrote: Thu May 18, 2023 12:36 pm Another tip.

I talked to my co-workers in my new area, asking them where they lived, what their recommendations were. I especially valued the input from those who also had school aged kids. That helped a lot to validate our own research.
Thanks, this is exactly what I have started doing. This is how we found our realtor, and also how we told the realtor where to look.
by steadyhand
Thu May 18, 2023 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

I live in a 4000 square foot suburban home and think it's very big and requires a ton of stuff to fill up and make feel like a "home". Our 4,000 square foot home has probably 500 square feet that are not frequently used. A $900k home with $17k in annual property tax will require a total monthly payment of more than $6,000-$6,500/month in principal, interest, taxes, and insurance, assuming you put down 20% as a down payment. Add to that the increase in utility bills and increase in home furnishing costs. It seems a bit tight. How are taxes on a $900k house $17k/year? Here in Minnesota, those taxes would be about $10k/yr. Property taxes tend to be higher in other places :-). I am sure counting on my current house selling and loweri...
by steadyhand
Thu May 18, 2023 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

Can you point out where in the Northeast? $900k for a 6000 sq ft house is wicked cheap. My 2800 sq foot house is worth at most $800k about 30 miles west of Boston. I tried thinking where you can get that big of a house that cheap and can only think maybe Western Mass, in the middle of nowhere, upstate NY, in the middle of nowhere, mid to northern New Hampshire or mid Vermont. That big a house. Here's the same square feet, new house in my town: https://www.zillow.com/homedetails/6-Whisper-Way-Hopkinton-MA-01748/2059072042_zpid/ Nearly 3 times the price. I do get that new houses tend to be McMansions. But 6000 sq feet is absolutely huge. That house is about $4000 sq. ft. on the main level. The rest is a finished basement. It is away from the...
by steadyhand
Wed May 17, 2023 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12754

Re: Preparing to relocate: can we afford this large home?

fitawrari wrote: Wed May 17, 2023 10:09 pm We live in a 4k sqr ft suburban home and I can't imagine living in a place that is 50% more than my current house.

You will need to buy additional *stuff* to fill up the additional space.
It seems only 4200sq.ft is finished. Perhaps the rest is a basement only partially unfinished at least. But good point about needing stuff to put in if too large.