I’m on my 3rd home. The first I lived in for 10 years, then sold it when I moved to a different state. The 2nd one, in the new state, I lived in for 2 years before I realized the HOA was shady as hell and it was likely that all the owners were going to be on the hook for paying to replace all the storm drains and roads. I’ve been in the current house for 6 years.
I see at least 1 more in the future to escape the hell hole that is NC.
I think it depends, but most people don’t buy a house planning to live in it forever anymore. More likely you upgrade from renting to owning a small apartment or condo, then you move into a starter home, maybe you get married and sell your home because your partner has a home, and then you decide to have kids and the starter home isn’t really big enough anymore, then you get a new job in another city, etc.
Interesting. In my country most people rent so typically if you can afford to buy or build a house you plan to live in there until you die. Sure sometimes circumstances change but the concept of owninc a starter home is completely alien to me.
In the US it varies a lot. Some places, like NYC or DC you might rent forever and that’s perfectly common. Other places which are not as urban focused, think medium cities that are big but not super dense, you could choose to live down town and rent or buy apartments or you could live in the suburbs or rural country. Some people live in small cities far from any major city and options to rent apartments are rare, you are more likely to rent a small house, live in a mobile home, or you own a house of varying quality.
Here is an example: Let’s say you live in Verdigris Oklahoma, outside of Tulsa. Here is a mobile home for $76k with 112 m^2. Here is a home for $195k with 938 m^2 land and 130 m^2 living space. Median income for Tulsa is $41k with married households having a median income of $99k. Tulsa is a 20 minute drive from Verdigris.
If you then get a job offer in Oklahoma City making more money, Oklahoma City has a median income of $67k with family median incomes being $83k (let’s assume your family is beating the median since you’re moving for this job). Here are a few houses that are in or near Oklahoma City 12334
Here’s another example. Maybe you have a job on the west side of Richmond Virginia. Richmond has a median income of $64k but you live in Chesterfield Virginia maybe in this town home and have a 15 min commute to work. You get a new job on the north side of Richmond and you’re getting married soon. You decide to sell your place, upgrade, and move closer to your new work so you buy this place.
How often are you planning on selling a house though? Don’t you plan to live in it forever?
I’ve
ownedpaid a mortgage on three houses and lived in them an average of seven years. I do plan on owning my next house until I die, though.I’m on my 3rd home. The first I lived in for 10 years, then sold it when I moved to a different state. The 2nd one, in the new state, I lived in for 2 years before I realized the HOA was shady as hell and it was likely that all the owners were going to be on the hook for paying to replace all the storm drains and roads. I’ve been in the current house for 6 years.
I see at least 1 more in the future to escape the hell hole that is NC.
I think it depends, but most people don’t buy a house planning to live in it forever anymore. More likely you upgrade from renting to owning a small apartment or condo, then you move into a starter home, maybe you get married and sell your home because your partner has a home, and then you decide to have kids and the starter home isn’t really big enough anymore, then you get a new job in another city, etc.
Interesting. In my country most people rent so typically if you can afford to buy or build a house you plan to live in there until you die. Sure sometimes circumstances change but the concept of owninc a starter home is completely alien to me.
In the US it varies a lot. Some places, like NYC or DC you might rent forever and that’s perfectly common. Other places which are not as urban focused, think medium cities that are big but not super dense, you could choose to live down town and rent or buy apartments or you could live in the suburbs or rural country. Some people live in small cities far from any major city and options to rent apartments are rare, you are more likely to rent a small house, live in a mobile home, or you own a house of varying quality.
Here is an example: Let’s say you live in Verdigris Oklahoma, outside of Tulsa. Here is a mobile home for $76k with 112 m^2. Here is a home for $195k with 938 m^2 land and 130 m^2 living space. Median income for Tulsa is $41k with married households having a median income of $99k. Tulsa is a 20 minute drive from Verdigris.
If you then get a job offer in Oklahoma City making more money, Oklahoma City has a median income of $67k with family median incomes being $83k (let’s assume your family is beating the median since you’re moving for this job). Here are a few houses that are in or near Oklahoma City 1 2 3 3 4
Here’s another example. Maybe you have a job on the west side of Richmond Virginia. Richmond has a median income of $64k but you live in Chesterfield Virginia maybe in this town home and have a 15 min commute to work. You get a new job on the north side of Richmond and you’re getting married soon. You decide to sell your place, upgrade, and move closer to your new work so you buy this place.
My parents seem to move every 15 years or so, i have no clue what a normal amount is.