Funny you would ask; I spent much of yesterday doing a deep dive into my budget and spending habits.
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I should probably flip those percentages for Savings and Mad Money -- but, well, I get awfully mad.
Would you say your rent is low compared to what you get? Or do you just get a pretty good salary? 23.3% for rent is quite good.
I see condos here in modest complexes that are listed for (example) $200k
I live in a town that might be considered lower-upper middle class and I am presumably (well) above the median income. The town has been slowly inching its way towards being a bit seedy and sketchy, but the development I live in is kind of tucked away. Other than an over-abundance of feral cats (thanks to one crazy lady), I have no problems with where I live. It's pretty spacious and I have a large screened-in patio. To get a comparable space in a more upscale, nearby down would put my rent closer to 35% of my income. Plus, I have something that would be nearly impossible to duplicate in another rental complex: privacy. I don't know of any other apartment/condo/townhouse development in the area that offers "views". Every building would look out onto another building, a parking lot, or a dumpster. My views in both directions are grassy lots and trees, but virtue of being on the periphery. So, 37 feral cats sleeping on the sidewalk* aside, I think I get a good deal.
*Not an exaggeration
Real estate prices here are higher because we're an oceanside town in a desirable climate. The $200k I quoted wasn't even referring to ocean-view; those would be twice as much and more. If I went to a real estate office and asked to see a house for $200k in this county, they'd double over laughing. There are...shall we say less desirable areas to the north and especially the south (in Palm Beach County) where prices are better, but the trade-off is that they are scary.I'd never ever pay that much for a condo. You can get a big house with a decent size garden for that sum in my town.
I've had a recurring dream for years that I resettle in an oceanside community south of Miami (before you get to the Keys) as improbable as it seems. Any recommendations?Real estate prices here are higher because we're an oceanside town in a desirable climate. The $200k I quoted wasn't even referring to ocean-view; those would be twice as much and more. If I went to a real estate office and asked to see a house for $200k in this county, they'd double over laughing. There are...shall we say less desirable areas to the north and especially the south (in Palm Beach County) where prices are better, but the trade-off is that they are scary.
I haven't been down there in .... many .... years.That's two hours south of me. It might as well be a different planet, though, because Miami-Dade is densely populated and English would not be considered their first language. I've only ventured down there once (for work) and it was much too urban for my taste. Also, the land near the ocean has all been bought up and developed, so there is very little access for the common (poor) folk like me. I never went south of Coconut Grove so there might be some places like you dreamed about---but I doubt it.
My conscious mind doesn't want re-settle there. But my unconscious mind seems to be curious about it.I’m in Boca Raton about 40 miles north of Miami. Take it from me when I tell you Snarky to start dreaming about a different place to resettle. I’ve been down here since 1994 and it’s ridiculously congested now. Traffic is absolute murder. Just wayyyyyyyy too many people. Great place for the weather, just a hurricane scare every once in awhile, but overall my advice is forget Florida
Congratulations!
....and I got a raise that allows me to update my previous post. Instead of my rent being ~30%, it's now closer to 25%. So yay to me, too.
Cats rock - feral or otherwise. Be nice to them. Could be worse - could be people everywhere.I live in a town that might be considered lower-upper middle class and I am presumably (well) above the median income. The town has been slowly inching its way towards being a bit seedy and sketchy, but the development I live in is kind of tucked away. Other than an over-abundance of feral cats (thanks to one crazy lady), I have no problems with where I live. It's pretty spacious and I have a large screened-in patio. To get a comparable space in a more upscale, nearby down would put my rent closer to 35% of my income. Plus, I have something that would be nearly impossible to duplicate in another rental complex: privacy. I don't know of any other apartment/condo/townhouse development in the area that offers "views". Every building would look out onto another building, a parking lot, or a dumpster. My views in both directions are grassy lots and trees, but virtue of being on the periphery. So, 37 feral cats sleeping on the sidewalk* aside, I think I get a good deal.
*Not an exaggeration