Cost of Living

[alex]

RPM had it right - 2 earners per family is just about the only way, unless daddy gave you the property for your home, etc. But, it isn't much better in DC. Many entry level secretary jobs now require a BA, AA if your lucky no matter how much experience you have. Which means that many of us who went to secretarial schools are stuck in our current jobs or going college to start from scratch.

 

[RPM]

im lucky enough...

to have a good enough job now that the misses can stay home with the kids. im a high school graduate with no college and i work at the gas plant in lusby.

 

[janey83]

Originally posted by BuddyLee
I make just enough to pay for my car insurance, college bills, books, and gas with just a little bit left over for my personal use. Even if I were able to move out and pay not even one cent of rent I would still not make it. However, two years of my college studies are paid off and I will never have to pay off some cruddy college loan in the future.

:shrug: maybe because your tuition is a heck of a lot cheaper than 4-year universities?

 

[BuddyLee]

Originally posted by janey83
:shrug: maybe because your tuition is a heck of a lot cheaper than 4-year universities?

Sorry about your luck. While your paying away college loans I'll be raking in the money.

 

[janey83]

Originally posted by BuddyLee
Sorry about your luck. While your paying away college loans I'll be raking in the money.

I'm sure you will since I'll be out of college about 3 years before you. Oh, and we all know that St. Mary's College is incredibly cheap.

 

[BuddyLee]

Originally posted by janey83
I'm sure you will since I'll be out of college about 3 years before you. Oh, and we all know that St. Mary's College is incredibly cheap.

Two and a half to be more precise. I'll still be paying a lot less than you being that two of my college years are already paid for and the other two will not involve the $20,000+ for room and board.

 

[janey83]

Originally posted by BuddyLee
Two and a half to be more precise. I'll still be paying a lot less than you being that two of my college years are already paid for and the other two will not involve the $20,000+ for room and board.

I was off by a semester.....well good for you -- you can buy the ghost infested house of your dreams then.

 

[SmallTown]

Oh for god's sake janey and buddy, it doesn't matter how much you spend or where you go, it only matters what you do with your time while there.

Bush went to Yale. Case closed.

 

[BuddyLee]

Originally posted by SmallTown
Oh for god's sake janey and buddy, it doesn't matter how much you spend or where you go, it only matters what you do with your time while there.

Bush went to Yale. Case closed.

 

[CMC122]

Originally posted by janey83
I was off by a semester.....well good for you -- you can buy the ghost infested house of your dreams then.

Do you think he'll have a house warming party there?

 

[BuddyLee]

Originally posted by janey83
I was off by a semester.....well good for you -- you can buy the ghost infested house of your dreams then.

Thanks, I will.

 

[BuddyLee]

Originally posted by CMC122
Do you think he'll have a house warming party there?

Sure, why not.

 

[Liquidwrench]

Somebody wanna tell me how a first time home buyer can afford to get one around these parts? Every home I see on the market has a price tag starting at $210,000. Even with good credit, most people I know couldn't even touch a loan of that magnitude with the salaries I see advertised around here.

 

[John Z]

Originally posted by Liquidwrench
Somebody wanna tell me how a first time home buyer can afford to get one around these parts? Every home I see on the market has a price tag starting at $210,000. Even with good credit, most people I know couldn't even touch a loan of that magnitude with the salaries I see advertised around here.

Excellent question! I have no idea how I would be able to afford more than a crapshack if I were just getting into the market now. I'm so glad we bought in '98.

 

[Chasey_Lane]

Originally posted by Liquidwrench
Somebody wanna tell me how a first time home buyer can afford to get one around these parts? Every home I see on the market has a price tag starting at $210,000. Even with good credit, most people I know couldn't even touch a loan of that magnitude with the salaries I see advertised around here.

Have you looked into interest only loans? You could EASILY purchase a 250K house and have a mortgage of less than $1000 per month.

 

[Liquidwrench]

I am just fortunate to have bought my house in 1997. I can tell you that my 175000 dollar loan at 5.5% with taxes and insurance escrows thrown in comes out at right around $1200 a month. If I had tried to buy this house now at what it appraises for, I would not be able to touch it on my income alone.

 

[Aimhigh2000]

Prices

Just an example, I bought my house in March 2003 in Golden Beach for 150,000. I can put it on the market for 220,000. All I did was put in wood floors, new carpet, plant grass and power wash the outside.

 

[dutch6]

I bought my house in California fo $110,000.00 in 2002 and can sell it now for $180,000.00. I'd say that was a good investment.

 

[Chain729]

Originally posted by Chasey_Lane
Have you looked into interest only loans? You could EASILY purchase a 250K house and have a mortgage of less than $1000 per month.

I've never heard of an "interest only" loan, or at least of a loan by that name. Care to define what one is? I'd appreciate it.

 

[willie]

Originally posted by Chain729
I've never heard of an "interest only" loan, or at least of a loan by that name. Care to define what one is? I'd appreciate it.

If you are going to buy something that will be guaranteed to appreciate in value then it can a good thing. You will never decrease the amount you owe but that can be OK if the home goes up in value.