I recently got a phone call from a woman I used to know. She was in a local knitting group that I attended. She had sent me an email saying that she was leaving California because she could no longer afford it. She is having a home built in an over 55 retirement community in North Carolina, where her brother lives.
I remember visiting her house. She invited me for a delicious homemade meal of chicken salad and fresh bread, and we sat on the couch and knit. The home seemed very large for one person, and it was in an area where all of the houses were brand new. I asked her what she meant about the costs, and she told me that her property taxes are now $16,000. a year! They will continue to rise. She is 75 years old, and has been there for seven years.
My little cottage is far smaller than those homes, but it suits my needs. The neighborhood is working class, and we used to be on the outskirts of town. That has changed. The area is more developed now, with newer housing. I love having a spacious backyard, and the fruit trees that I planted save me money on groceries. I pay $1,600. in property taxes each year. I have been here since 1998, and plan to make this my retirement home. (unless a developer buys us out, and they decide to tear all of these houses down, which I hope they don't!)
She plans to sell her home, invest a chunk of the money, and buy a smaller home outright. This will give her a large cash cushion as well. For those of us who have lived in California for decades, it is much less expensive than the people who bought in the higher end areas.
She pointed out that the price of gas elsewhere is far cheaper, as well as many other costs. It was very eye opening to talk to her. People used to make fun of me because I would take the bus, ride my bike from the bus stop to the cafe, and just order bread and water, That's all I could afford at the time. It has all paid off in the long run, though.
Where do you see yourself in twenty years?
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