A California native transplanted in southern Illinois.I love to browse on realtor.com. I have spotted several condos in Reno which might suit me fine.
Here is one:
This place is in Sparks. Sparks is just east of Reno and the two cities have grown into each other. It is a 2 br. 2 bath with 1088 sq. ft. and has a 1 car garage. The asking price is 95k. If I were to purchase it at 95k with 20% down and took a 15 year mortgage, my PI payments would be $526 (according to the calculator on realtor.com). The HOA dues are another $195. There is still property taxes and insurance to pay. But still, total housing should be under 1k per month, with a big drop when the mortgage is paid in full.
If I can land a job paying at least $15 an hour, something like this should be doable. Not a lot of wiggle room, but worth it I think at my age to be done with the mortgage in 15 years. If I have to stop saving for retirement, the money already saved will continue to grow, and I should still end up in OK shape.
Hopefully, I will be able to earn more than that and will continue to save. I am trying to be realistic. I am approaching age 50 and will not have any business contacts in the area. I have to be prepared for the possibility of a significantly lower income.
At this point, I am planning to move with BF. If we are sharing living space, we will also share expenses. That will provide a bit of budgetary wiggle room too. However, I only want a mortgage I can afford completely on my own.
In other news, tax season is mercifully over. Between my overtime and my bonus, I cleared an extra 4k. I have sent off 1k to my traditional IRA, $500 extra to my car loan, $300 extra to emergency fund, and $200 extra to Roth. The other 2k I needed for expenses. J's car got new brakes and a major tune up (120k miles), and I paid the IRS $987. Additionally, my annual matching of $1632 was sent off to my Simple IRA. Looking forward to seeing those account balances rise a bit on 4/30. Of course, will just have to see if Mr. Market cooperates.
Mrs. M180 and I are planning a 3 day weekend in Seattle. We were able to get airfare for $156 each. We will stay one night with my childhood friend (who stayed with me last September), and two nights on Vashon Island visiting my birth mother, her sister, and the sister's new husband. On the final day, we are hoping to spend some time with my niece who lives in Tacoma. She is only 5 years younger than me, so is actually more like my baby sister.
April 18th, 2015 at 10:01 pm 1429394477
April 18th, 2015 at 10:15 pm 1429395343
April 19th, 2015 at 01:22 am 1429406565
If you're unfamiliar with condo benefits and restrictions, I suggest talking to a local agent familiar withusiness rules and questions to ask. I love living in the controlled environment of our condo complex but I have friends who sold their home and bought a new build condo last September and feel frustrated by regulations. It's critical to read the Board minutes to see internal conflicts that aren't obvious to outsiders. You need to be ok by having to send a written request for changes you desire.
Would you want to work for a firm similar to your current employment? Would you need to re-qualify? Would you need to learn a different state taxation code? What kind of work would you like to do that fits with your skill sets? Would you be willing to join a professional group, church group, volunteer group etc to get to know people and make contacts in the business community to help launch employment?
Is BF able to transfer employment easily?
Envy your trip to Vashon Is. Really a beautiful place.
April 19th, 2015 at 02:05 am 1429409107
April 19th, 2015 at 06:32 pm 1429468361
April 21st, 2015 at 05:16 am 1429593419
I don't have my heart set on any particular condo. I am open to a single level, but that would likely mean apartment style with neighbors above (not interested if not on the ground floor) and no garage. Still, I would consider it if the unit was situated nicely and priced right. Buying a nicely upgraded unit is my preference, but would consider one not upgraded if it is priced right.
The first home I ever purchased (jointly with now ex-husband) was a townhouse. We lived in that unit for 8 years and kept it as a rental for another 4. I will read financials and HOA meeting minutes along with CCRs of any condo I am considering. I am OK with restrictions, so long as they are reasonable and of benefit to all.
I really like the idea of nothing to maintain outside but a little private patio area.
Ideally, yes, I would prefer to work in another firm similar to where I am now. I am a staff accountant in a small firm, so I do a little bit of lots of things. I do accounting, payroll, accounts payable, quarterly payroll and sales tax returns, worker's comp reports, and then simple income tax returns. Nevada does not have state income tax. I am sure the state payroll and sales tax forms are somewhat different, but not much of a learning curve there.