It really is location, location, location

[M_Six]

Originally Posted by c1pher

I mean you might as well live in the middle of the Sahara where that is. I'm surprised it's not cheaper, and I grew up in Champaign.

There are downsides to living here for sure, but we've learned to adjust to them. I was just back in Hartford, CT last week and it was great having decent stores and restaurants all over, but the traffic about drove me nuts. Plus the people there drive like total morons and always seem to be texting while driving. I can take my bike out for a 25-30 mile ride here and encounter maybe 3 or 4 cars over the whole trip. I wouldn't dare cycle on the streets back east.

Champaign has improved tremendously since we moved out here 17 years ago. We went up to the Campus Town area around Green Street a few weeks ago and were stunned at how much new construction there is compared to the last time we were in in that neighborhood about 2 years ago. It's still not super cosmopolitan, but it's a whole lot better than it used to be.

The thing about the low housing cost that is the biggest bonus here is that we just needed a 15 year mortgage and it's paid off. We have no debt at all and bank/save a ton, so we're looking pretty good for retirement. That wouldn't have been so if we'd stayed back east.

So yeah, it's all a trade-off.

[c1pher]

Originally Posted by M_Six

There are downsides to living here for sure, but we've learned to adjust to them. I was just back in Hartford, CT last week and it was great having decent stores and restaurants all over, but the traffic about drove me nuts. Plus the people there drive like total morons and always seem to be texting while driving. I can take my bike out for a 25-30 mile ride here and encounter maybe 3 or 4 cars over the whole trip. I wouldn't dare cycle on the streets back east.

Champaign has improved tremendously since we moved out here 17 years ago. We went up to the Campus Town area around Green Street a few weeks ago and were stunned at how much new construction there is compared to the last time we were in in that neighborhood about 2 years ago. It's still not super cosmopolitan, but it's a whole lot better than it used to be.

The thing about the low housing cost that is the biggest bonus here is that we just needed a 15 year mortgage and it's paid off. We have no debt at all and bank/save a ton, so we're looking pretty good for retirement. That wouldn't have been so if we'd stayed back east.

So yeah, it's all a trade-off.

I found a place about 60 miles from two different Virginia metro areas near the ever rising sea levels and the house cost $139k. That's where I'm planning to retire. I hope to pay it off quickly and own it before I stop working. There isn't much around me but I can get to pretty much anything I want in 60-90 minutes.

[grocerylist]

No offense but I wouldn't want to live in Charleston, IL no matter the house. I certainly wouldn't want that ugly 13k Sq ft McMansion. How close is a major airport to Charleston? I have to be near an airport.

I'd rather live in an urban area than suburban hell. Sq footage isn't the end all be all for many people.

[bimmer456]

Lol that's nothing here is a $600k 1 bedroom "condo" listed for $600k in Pasadena. 959 sq ft built in the 1950's. Sold in August for $484k, barely "updated" now listed at this price. My house not far from here seems like a bargain!

https://la.curbed.com/2019/10/2/2089...-sale#comments

[M_Six]

Originally Posted by grocerylist

No offense but I wouldn't want to live in Charleston, IL no matter the house. I certainly wouldn't want that ugly 13k Sq ft McMansion. How close is a major airport to Charleston? I have to be near an airport.

I'd rather live in an urban area than suburban hell. Sq footage isn't the end all be all for many people.

No offense taken. To each his own. I like visiting a city every now and then, but I hate traffic and crowds, so this area works for me. You did hit upon my biggest peeve about this area, though. The nearest decent airport is either in Indy or Chicago. The Champaign airport is pretty much useless.

[jlstyle]

House price is one thing but property tax is another thing.
In my area, typical 1M house will set you back with $20~30k yearly for property taxes. And I can no longer search any decent house under $800k, all fix uppers. Statistic says NJ is the most well paying state but unless you own a very good business or doctor status, paying $2,000~3,000 a month only for tax is absurd.

[M_Six]

There's always this beauty.

https://www.cnn.com/2019/10/02/us/sa...rnd/index.html

[kscarrol]

Originally Posted by M_Six

There's always this beauty.

https://www.cnn.com/2019/10/02/us/sa...rnd/index.html

Wow.

[dreamingat30fps]

Originally Posted by M_Six

There's always this beauty.

https://www.cnn.com/2019/10/02/us/sa...rnd/index.html

I've been in San Diego for the past 2 weeks. It's nice, is it nice enough I would pay $1k to live in a shed? Fuck no!

I've see NOTHING in the 2+ months we've been here in CA that would make me want to pay the crazy prices they are asking for real-estate here. Plus after you spend half a million dollars on a fixer upper like my friend did (in some no name town surrounded by farms and not the pretty kind) you still have to pay 9+% sales tax, state income tax, double the price on gas, tax on bags, bottles, soda... oh and what do you get for that? Shit ass fucking roads that have already caused 2 blowouts on our rv.

I think a lot of people (like my friend) live here because they think they don't have a choice (work, family etc), but the people who actually choose to live here because they love it and think it's worth the $$ it costs to live here are just freaking insane to me (unless you're stupid rich and money is of no concern to you, then knock yourself out).

[grocerylist]

Originally Posted by Mardio

Skewed is correct. I moved from Marin County to Nashville six months ago. Before I left I got my teeth cleaned by a young dental hygentist, she was explaining to me how she just got a killer deal on a one bedroom in SF ($2900 a month). Umm...

My wife has a pediatric radiologist friend in SF that rents a place for $5000/month for a 2 bedroom up near Coit Tower. It's silly but I guess when you make $400k+/year money isn't a consideration for some people.

[AlpineWhite_SJ]

Originally Posted by grocerylist

My wife has a pediatric radiologist friend in SF that rents a place for $5000/month for a 2 bedroom up near Coit Tower. It's silly but I guess when you make $400k+/year money isn't a consideration for some people.

Unless you’re making a whole lot more than 400k a year, you should still be worried by that kind of rent But at that price point you’re paying more for convenience and location, which some view as worth it.

Myself, doing ok by Bay Area standards in terms of value to amenities - 10 min commute, 1/3rd acre and decent sq footage, but it’s not our first home. A bit worried that decline in boomers and more jobs from local firms moving out of state will depress things over the long run. Bay Area people always assume it’s always going to go up but that won’t mean squat if there’s some big structural shifts which is entirely possible at these kind of price points.

[Dang3r]

Originally Posted by grocerylist

My wife has a pediatric radiologist friend in SF that rents a place for $5000/month for a 2 bedroom up near Coit Tower. It's silly but I guess when you make $400k+/year money isn't a consideration for some people.

I second that, we visited SF last year and stayed via AirBNB into Filbert Rd near Coit Twr. The couple (he was unemployed web designer and she web advertising seller) who shared had payed monthly 2400,- for 2 bedrooms, a big kitchen and a very small bathroom. The whole appartment seems very...well, improvised and the "charme" of the old building wouldn't work really well. But on the flipside they had a garage and so a free parking space in front of their door.

Here in Germany wifey and me are living for monthly rent into a very small village 20 miles north of Munich with a population less than 10k. The sq/m price is meanwhile grown to 850 Euro / 933 USD and a condo w/o parking space is sold for 700k USD. Thats insane and ridiculous, prices are exploding since years, my condo in Hamburg has nearly doubled the price since I'd bought it for 15 years ago. We're dreaming of a single free standing house in a few years but if prices are more increasing like this, we had to face the fact, that a cheaper stay into a condo isn't the best solution but cheaper than sell our asses off.

[eluded]

Originally Posted by dreamingat30fps

I've been in San Diego for the past 2 weeks. It's nice, is it nice enough I would pay $1k to live in a shed? Fuck no!

I

You saw that article too? I assume it has electricity. Times are a booming in the coasts and that is with trump in office. Wow.

[hooligan_COLD]

Originally Posted by Narcosis

I dig living in the midwest, however prices here are creeping up into the 'stupid' category as well. The wife and I are in early in the process of building our retirement home, custom 2500 sq ft ranch, walkout, 3 garage stalls, 0.6 acre wooded lot, somewhere between 400-500k when all is said and done.

$175-$200/sq ft is pretty standard construction cost, depending on finishes. Not just in the midwest, either. $185/ft was what we were quoted when we were looking to build a custom home in the Charlotte, NC early last year. That was not super high-end finishes, either.

[Run Silent]

Originally Posted by hooligan_COLD

$175-$200/sq ft is pretty standard construction cost, depending on finishes. Not just in the midwest, either. $185/ft was what we were quoted when we were looking to build a custom home in the Charlotte, NC early last year. That was not super high-end finishes, either.

That seems inordinately high. I paid $115/ft to build my house in town - and it was built by a well known builder and is in a new subdivision with sidewalks, sod grass, and more.

Excluding the land, the new home cost approx. $80/ft - but it was a log home and I also assisted in many of the items to cut down on labor costs.

[hooligan_COLD]

Originally Posted by Run Silent

That seems inordinately high. I paid $115/ft to build my house in town - and it was built by a well known builder and is in a new subdivision with sidewalks, sod grass, and more.

Excluding the land, the new home cost approx. $80/ft - but it was a log home and I also assisted in many of the items to cut down on labor costs.

Custom build, though?

When we built our house in Pineville in 2015, it was semi-custom, in an HOA neighborhood (sidewalks, lights, clubhouse/pool, etc), sod, 10ft ceilings on the main floor, solid wood floors on the main floor, detached 2-story/2-car garage, fiber cement siding, crawlspace, etc. Including the lot was about $125/ft.

Custom, one-off builds are more expensive. The builder doesn't have any economy of scale for any subs built into the scenario if it's only one house. If it's a neighborhood of 700 houses, that changes. Right?

The custom builder in NC we talked to before moving back home was at $185/ft or so, not including the land. When we talked to a custom builder up here, he quoted us $175-$180 for a slightly smaller home, same finishes.

[Run Silent]

Originally Posted by hooligan_COLD

Custom build, though?

When we built our house in Pineville in 2015, it was semi-custom, in an HOA neighborhood (sidewalks, lights, clubhouse/pool, etc), sod, 10ft ceilings on the main floor, solid wood floors on the main floor, detached 2-story/2-car garage, fiber cement siding, crawlspace, etc. Including the lot was about $125/ft.

Custom, one-off builds are more expensive. The builder doesn't have any economy of scale for any subs built into the scenario if it's only one house. If it's a neighborhood of 700 houses, that changes. Right?

The custom builder in NC we talked to before moving back home was at $185/ft or so, not including the land. When we talked to a custom builder up here, he quoted us $175-$180 for a slightly smaller home, same finishes.

Ah. No - the first house was not a custom build - it was a planned community where we picked the floorplan, lot, and finishes/upgrades. It came to $115/ft - including the lot, which was a 1/4 acre.

The current home was a custom design, but only $80/ft not including the land, which I purchased separately. This isn't really comparable, though, since I didn't work through a builder and did many of the sub-projects myself. I also offset some of the costs through the sale of lumber being cleared for the project, as well as ginseng that grows on property. Those two items nearly offset the total cost of the land.

[Rmtt]

Originally Posted by Run Silent

Ah. No - the first house was not a custom build - it was a planned community where we picked the floorplan, lot, and finishes/upgrades. It came to $115/ft - including the lot, which was a 1/4 acre.

The current home was a custom design, but only $80/ft not including the land, which I purchased separately. This isn't really comparable, though, since I didn't work through a builder and did many of the sub-projects myself. I also offset some of the costs through the sale of lumber being cleared for the project, as well as ginseng that grows on property. Those two items nearly offset the total cost of the land.

Man...I have never seen people go so crazy over something like that in all my life. I grew up in an urban environment. I remember when my wife and I started dating.....her brother would tell me about having to run people off his property looking for that stuff.

He had all these crazy stories!

[Turkish Pickle]

Originally Posted by grocerylist

No offense but I wouldn't want to live in Charleston, IL no matter the house. I certainly wouldn't want that ugly 13k Sq ft McMansion. How close is a major airport to Charleston? I have to be near an airport.

I'd rather live in an urban area than suburban hell. Sq footage isn't the end all be all for many people.

Originally Posted by M_Six

No offense taken. To each his own. I like visiting a city every now and then, but I hate traffic and crowds, so this area works for me. You did hit upon my biggest peeve about this area, though. The nearest decent airport is either in Indy or Chicago. The Champaign airport is pretty much useless.

Yeah... I'm in champaign, hopefully my last year here and i wouldn't want to live outside of main Chicagoland, it's too dead and quiet out here
plus champaign is fastly becoming gentrified, and that's not necessarily a bad thing but the vibe of the people I just don't like.

plus yeah, the flights from Champaign are ridiculously expensive, too. it costs more to do champaign-o'hare than o'hare-boston or o'hare-maryland

[Run Silent]

Originally Posted by Rmtt

Man...I have never seen people go so crazy over something like that in all my life. I grew up in an urban environment. I remember when my wife and I started dating.....her brother would tell me about having to run people off his property looking for that stuff.

He had all these crazy stories!

LOL - you aren't kidding - it sells for about $600/lb around here. I've installed electric fencing with security alarms around that area of the property. My official reason is "deer and bears" - but, well......

It's growing on about 4 acres of the property. I paid some laborers to cultivate and harvest about 1 acre of it during the build and it generated about $130,000 of revenue. The net came out to around $70K - which pretty much paid for the 7 acres of land when factoring in the few grand I got for the lumber as well. I should be able to harvest about 1/2 acre a year in perpetuity going forward. That should add about $30,000 - $40,000 a year in net income to my bottom line annually. Not a bad deal. Just the ginseng on the property alone should pay for the costs associated with building the house in less than 10 years.

[M_Six]

Originally Posted by Turkish Pickle

Yeah... I'm in champaign, hopefully my last year here and i wouldn't want to live outside of main Chicagoland, it's too dead and quiet out here
plus champaign is fastly becoming gentrified, and that's not necessarily a bad thing but the vibe of the people I just don't like.

plus yeah, the flights from Champaign are ridiculously expensive, too. it costs more to do champaign-o'hare than o'hare-boston or o'hare-maryland

We flew direct from O'Hare to Bradley in Hartford even though it's a 3 hour drive to O'Hare because flying out of Champaign added $400 each to the trip. It's insane. Flying out of Indy was a bit cheaper than Champaign, but it put us on the exact same flight from O'Hare to Bradley and still involved 3+ hours of travel. I fail to understand how it's cheaper to fly the same size airplane from Indy to O'Hare than it is to go from Champaign to O'Hare. There must be some ridiculous airfield fees from Champaign or something.

[dreamingat30fps]

Originally Posted by Run Silent

LOL - you aren't kidding - it sells for about $600/lb around here. I've installed electric fencing with security alarms around that area of the property. My official reason is "deer and bears" - but, well......

It's growing on about 4 acres of the property. I paid some laborers to cultivate and harvest about 1 acre of it during the build and it generated about $130,000 of revenue. The net came out to around $70K - which pretty much paid for the 7 acres of land when factoring in the few grand I got for the lumber as well. I should be able to harvest about 1/2 acre a year in perpetuity going forward. That should add about $30,000 - $40,000 a year in net income to my bottom line annually. Not a bad deal. Just the ginseng on the property alone should pay for the costs associated with building the house in less than 10 years.

Damn can I filter by ginseng on Zillow???