6 ms·
Yeah, but are you under rent control ?
by throwthisawayt 10y ago
Yeah, but are you under rent control ?
- pyrrhotech 10y agoI own a home in Hayward. I did get lucky and buy in 2012 tho when prices were about 35% lower
- actionbrandon 10y agoyou didnt spend more than 30k in 2012?
- pyrrhotech 10y agoI transferred money from my bank account to the equity in my home; from an assets and liabilities standpoint, that's no different than transferring money from your checking account to your stock account. Spending money is depleting assets. Now, the closing costs were real expenditures and totaled around $4k, but I'm pretty sure I was still under $30k for the year. Definitely my most expensive year though.
- foobarian 10y agoWhat are the property taxes like in California? I'm just outside Boston and pay about $6k per year on a $400k house.
- pyrrhotech 10y agoMine are ~$4.1k per year, lower than they would be if I bought this year because of https://en.wikipedia.org/wiki/California_Proposition_13_(1978) https://en.wikipedia.org/wiki/California_Proposition_13_(197...
- gnopgnip 10y agoIt is about 1.17% in most of california. Closer to 1.5% in SF, Berkeley, Oakland. But the tax increases by at most 2% per year. So $4800 a year on a $400k house in Castro Valley, Burlingame Hills, Broadmoor, or other cities without extra taxes.
- cpfohl 10y agoWow, this is nuts. I spend 5k a year in taxes for a $128k home... New York State for you...
- driverdan 10y agoSo you're saying the key to spending $30k/y in the Bay Area is to have a high six figure bank account that you use to buy a house?
- pyrrhotech 10y agoI put $34k down on an 80-10-10 mortgage. You can easily save that amount in a year or two if you are willing to live on $30-40k a year, which is still possible while renting if you are willing to live with roommates. My salary at the time was $85k.