Reply to Buying past "prime" home buying years

Forum Index » Money and Finances

Reply to "Buying past "prime" home buying years"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Most  people in this area don't pay off their houses unless they bought before the 80s. They just sell and move to a cheaper area for retirement.[/quote]

Not true.  I'm a millennial with a 15 year mortgage, which I will pay off in my late 40s.

I personally wouldn't take on a mortgage I wouldn't have paid off until my 70s.  I saw my parents' friends do this and it made a huge difference financially for them.  I'd instead invest the money and stay in your current home or find a home you can afford on a 15 year mortgage.  [/quote]

I agree. It is not true to assume that people with paid off houses bought before the 1980's.  That removes almost all born in the 1950's.   People don't just move to a cheaper area for retirement.   This isn't NY/NJ with the vast tax migration to FL.  If VA taxes are lower than MD many stay in MD if near family etc.  DE has low property taxes but PA does not have income taxes on pensions.  People in NJ even stay there unless they move to PA - yes there is a flow there to escape income tax and even higher property taxes.  Some PA people move to DE if better off for paying DE income tax v PA property tax.

Why do you think there are all those retirees in Lewes/Rehoboth?

OP owns a house and wants better public schools.  It  makes sense to move.  OP has to look at the RE available.  Prime earning years are in the forties and fifties

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics