To me anyone who owns a house is extremely well off, even if it's mortgaged.
We're renting to own, and honestly the house is the cheapest one that's actually liveable in town. Not sure why tbh. Well if you could buy it outright, going rent to own it's twice the price. Which is still only like maybe 1.5x most houses smaller than this one that are still not liveable. (One, for example, had asbestos and the ceiling about to cave in in multiple places. Person wanted like 44k. This house is 2 story, can live in fine, would have been 33k outright.)
But for purposes of repairs and property tax we're considered the owners. I can't go to the doctor for anything. We are able to do/get some things, but mostly sit on what we have. It took most of the savings to get into this place and to deal with 3 plumbing issues due to the fact they didn't actually winterize, contrary to the notes left saying they did just this last winter. Plumber said they had just stuffed rags in the toilet, that was it.
My mom was a considered a homeowner, but couldn't keep up with the mortgage and left. This house actually lol. House was literally taken by the bank. She was living paycheck to paycheck, not at all well off. In the slightest.
We're definitely better off than a decent chunk of people, true. Especially around here. But we're not particularly well off. Houses sit and literally rot in this town. I guess maybe that's why it was going so cheap, no one is buying. Finding a rental place was hell before, all full up. Now new for rent go unanswered.
It costs as much per month to rent as it does to pay on a home. Maybe more depending. (Renting is anywhere from $350-$800 a month. Generally $500+ a month area, anything less being studio.) Payments on paying on a home tend to be around $600 a month. Generally with more space.
The majority of the town is one of two types of people: Too poor to move or old. Old people live in houses they own or the nursing home.
Long story short, unless you're old or lucky enough to have a job at like one place (most of which are older individuals, generally in their 50s) you're probably not well off around here.
Where the hell do you live that $44K is too expensive to buy a home!? In California that wouldnt even be a deposit on the land...
Makes sense since California is one of the most expensive places to live in. Other places where things are cheaper doesn't mean people can just get them because it's cheaper. When the living expenses are cheaper, the wages in those states are also lower. I live in a place where everything is super cheap. But I also don't make a lot. Most people don't here. Even my dad says that he could basically live like a king if he was making the same amount of money where he was, but lived here. So, I mean, it could be anywhere where the houses are cheap, but so is the pay.
For me, it's not just the cost of the house, but also the upkeep. Renting allows me to call the landlord if I have an issue. Where I would have to get everything fixed myself (and on my own dime) if I owned... ---
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