Premium to 'enjoy life' (?)
Curious was to what others would pay in rent (or mortage) to 'enjoy life', that is rent (or stretch to buy) a nice place to live. A place that may be a bit of a stretch to afford, but offers the chance to enjoy today (reasonably, not putting off everything to tomorrow). For myself, that would be renting a condo in the Edmonds bowl, say Point Edwards or other nice rental. I could stay where I am at, saving 200-300 per month, but putting up with very noisy neighbors and high road noise, or rent for higher and perhaps have a nicer place.
What thoughts/views/experiences/etc, have you on the balance for living 'cheap' vs. enjoying life now (for we never know when we will 'go'). Very subjective I know, but curious as to how others balance things out.
What thoughts/views/experiences/etc, have you on the balance for living 'cheap' vs. enjoying life now (for we never know when we will 'go'). Very subjective I know, but curious as to how others balance things out.
Comments
My personal example: I make about 15% more here than I did in the midwest, but total costs are closer to double. What I pay for rent on a 3br/2.5ba/3car would buy a McMansion in the midwest (other than in the Chicago area), or a comparable house on a very large lot (5+ acres), and I would still have more money left over for cars, a boat, etc.
Of course I'd be stuck living in the midwest.
I'm not really sure how to quantify an answer to your question though. I'd be willing to pay $200/mo more to have a bigger yard... maybe $100/mo more if the same house had a big patio off the kitchen or was in a quieter area. Unfortunately it's hard to find that "perfect" home so you're always going to compromise on something. My general view has always been to find something you can afford with plenty of headroom (no stretching), which enables you to do the things you enjoy and doesn't prevent you financially from living your lifestyle.
I am thinking maybe if I move up to Kirkland, I will pay 100-200 more for a bigger yard and quieter street...
Close to park with nice walking trails - +200
View - +200
Peace & Quiet - $200
I currently am renting a place that takes into account all the above and yes, I am paying about $800 more than if I lived in one of those "other" places....
Just remember that as we sink into the Depression police services will be cut, and crime will go up. It will go up all over but in the places that are "less nice" it will go up by a much larger amount than the nicer neighborhoods.
The worst place to be is a "nice place" that is within blocks of "da hood"......
What I find interesting about this thread is that nobody is talking about the jobs available. When I was younger living in a big city with a vibrant nightlife and lots to do was very important. But these days, I just want to live in a nice quiet neighbourhood and have a nice job.
If you want to work in the technology industry as a developer on stuff like operating systems, you cannot just move whereever you want and get a job. People who wrench cars or fix toilets or cook can do this, but many folks cannot.
I was fortunate enough to buy before things got silly around here (the price I paid for my house is less than double my current salary, no refinancing) so I actually get cheaper than rent by staying with what I bought. But if I had to rent I would do it in Redmond or Bellevue, and I would do it in a nicer part of town. Close to work and a community of successful hardworking people with good schools.