Wonder how many cyclists already figured this out?

[Pax]

Mine is my HOA. It's fun to try to sell a condo when the dues are $243 a month, and we're on year 7 of 5 digit assessments. UGH!

Good article. Glad I'm driving a paid for car Just wish I didn't have such a long commute - there is no alternative arrangement - I've looked!

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

[Blueberry]

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

They were 150 when we bought. We're talking about a small, modest condo here - we thought we were buying below what we could....

HOA has been very badly managed, and the sellers made a bunch of misrepresentations about how things were going.....

I really feel for people in more expensive areas (e.g. DC, PNW) - I don't know how they make it!

[Bluetree]

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

Queen,
I am seriously envious at your $750 mortgage.
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

[Bikingmomof3]

Queen,
I am seriously envious at your $750 mortgage.
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

Wow! I thought the $651 mortgage I pay was a lot! I could not afford California.

[Pax]

Queen,
I am seriously envious at your $750 mortgage.
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

Since I do social work and my SO is a librarian, I can't wrap my head around ANYONE making enough money to buy a $650k place. Right now we're renting a 2 bed/2 bath 1000sq ft condo with a garage for $665 a month, I guess as much as I wish we lived someplace more fun/interesting, there are definite perks to living here.

At this point we have a second car (we're out on the edge of town) but once we buy in town we're ditching the second car and keeping my almost paid-for little Ranger. I'm so looking forward to having my reasons and excuses for NOT riding to work disappear.

[Aggie_Ama]

I would love to be able to ride to work. The housing bust has not hit Austin. The only way DH and I could afford a house is to move out of town. We are 30 miles out- no way not to drive. Our home splits the drive between our works. I am looking into the bus, it will still require me to drive 10 miles. The only way to get there is a busy highway with no shoulder.

A 2 bedroom condo near my work would have been $20k more than our home. Houses in the area are 30+ years old and cost $30-50K more. Usually those homes need at least some repairs.

I just keep watching our car notes getting closer to paid off. The only way we are getting a new car is if we have a baby (we aren't trying soon), DH's single cab truck won't cut it then. I am amazed at my friends who have no plans to keep their expensive cars and continually trade in to be upside down. One of my friends pays $700 on ONE CAR!!

[Bluetree]

I am amazed at my friends who have no plans to keep their expensive cars and continually trade in to be upside down. One of my friends pays $700 on ONE CAR!!

I wonder about priorities, too. My cousin (who is dead broke) is getting married soon and she was given a choice by her father: the $100k wedding she asked for... or the down payment on a house. She chose the wedding.

Then again, my family thinks my priorities are out of whack for riding my bike at 5am in 30° temps.

[mimitabby]

I wonder about priorities, too. My cousin (who is dead broke) is getting married soon and she was given a choice by her father: the $100k wedding she asked for... or the down payment on a house. She chose the wedding.

Then again, my family thinks my priorities are out of whack for riding my bike at 5am in 30° temps.

Did you really mean a wedding that costs 100,000 dollars???

[Bluetree]

Did you really mean a wedding that costs 100,000 dollars???

Yup. Not too unusual around here, young people can be quite spoilt. My brother's wedding cost $150k (dress alone was $20k), but at least her physician-parents could easily afford it. My uncle, on the other hand, can not, which makes me less inclined to want to go to my cousin's wedding.

Everyone thought my bro's wedding was beautiful. Personally, other than the ceremony, I thought it was ostentatious, wasteful and a bit crass. I mean, what's the point in carpeting an entire ballroom in fresh rose petals? They stuck onto your high heels fer crissakes. People... get a grip!

[Aggie_Ama]

I wonder about priorities, too. My cousin (who is dead broke) is getting married soon and she was given a choice by her father: the $100k wedding she asked for... or the down payment on a house. She chose the wedding.

Then again, my family thinks my priorities are out of whack for riding my bike at 5am in 30° temps.

My friend was given the same choice. A $20k wedding or $20k. She took the wedding. That $20k is nearly the traditional 20% down payment on nice starter homes in Texas. And she and her husband are starting with her med school student loans.

My wedding was extravagant for my family at about $5,000. If my parents had offered me that in cash I would have taken it. My wedding was gorgeous, but one day wasn't worth that much. I don't have the fairy tale love affair with my wedding. With $5k to start us off, my DH and I would have had it a lot easier.

[mimitabby]

My friend was given the same choice. A $20k wedding or $20k. She took the wedding. That $20k is nearly the traditional 20% down payment on nice starter homes in Texas. And she and her husband are starting with her med school student loans.

My wedding was extravagant for my family at about $5,000. If my parents had offered me that in cash I would have taken it. My wedding was gorgeous, but one day wasn't worth that much. I don't have the fairy tale love affair with my wedding. With $5k to start us off, my DH and I would have had it a lot easier.

I am glad I don't have daughters. It's sad when even I don't think a 5k wedding isn't extravagant... but I bet it could be done nicely for under 1K!

[KnottedYet]

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

I'm paying more than $800/mo just for rent! And they want to raise my rent $100 when the lease ends in June. I tried finding a cheaper place last June, but no luck.

The rental market here has finally caught up with the huge real estate boom.

Bummer.

[mimitabby]

Yes, and according to the local paper it's no bargain here to buy a condo either.

[Pax]

Well, if any of you want to give up beautiful scenery, pleasant seasons, rolling hills, and access to the ocean...Central Illinois will give you the opportunity to own a REALLY nice house for $150k and a dang mansion for $500k.

[indysteel]

She chose a $100k wedding over $100k for a home? Argh!!!!! I work for the United States Bankrutpcy Court, so it pains me to hear the arguably stupid financial decisions that people make. That, and I lack the "big wedding" gene; it's never been a fantasy of mine.

I have always comfortably but below my means, and I prefer to keep it that way. I'm amazed at the lifestyle of many of my friends and colleagues. They either make a lot more money than I think they do or are in debt up to their eyeballs (or a little of both). Why invite that kind of added stress into your life?