 |
|
 |
 |
|
|
Forum
-> Household Management
-> Finances
|
amother
OP
|
 Thu, Jul 18 2024, 6:08 pm
|
Live in suburban area. Almost every couple of blocks , there is house being renovated or complete or partial knockdown and building huge homes on small lots . the past 2 yrs. I have noticed a huge uptick. I'm curious how ppl are affording this with yeshiva tuition bills. We live in a smaller home and have saved a lot for retirement BH. That is our choice, but really wondering. Plz no attacks , just wondering how so many pple can afford this when everything is sooo expensive.
| |
|
| Back to top |
 0
 3
|
|
amother
Offwhite
|
Thu, Jul 18 2024, 6:11 pm
|
| Back to top |
0
5
|
|
amother
Wheat
|
Thu, Jul 18 2024, 6:12 pm
|
I live in Boro Park high avenues-high streets and wonder the same thing.
| |
|
| Back to top |
0
0
|
|
amother
Seagreen
|
Thu, Jul 18 2024, 6:15 pm
|
I built a home when my husband was in school and I was a sahm. My family paid for it in full. We do not have a mortgage. We pay full tuition bh. People who have nice homes around me have family money or good job/business. Yes everything got very expensive lately. People also take out loans and pay it back slowly.
| |
|
| Back to top |
3
6
|
|
amother
White
|
Thu, Jul 18 2024, 6:17 pm
|
Some people have money just saying... I know hard to comprehend
| |
|
| Back to top |
0
13
|
|
amother
Natural
|
Thu, Jul 18 2024, 6:17 pm
|
A lot of people have a lot of money. Even people who don’t look like they do.
| |
|
| Back to top |
0
5
|
|
amother
DarkCyan
|
Thu, Jul 18 2024, 6:17 pm
Highly doubtful people are doing 100k+ extensions on their credit cards.
| |
|
| Back to top |
0
16
|
agreer
|
Thu, Jul 18 2024, 6:18 pm
|
There are still many people who are extremely rich. They can afford it.
| |
|
| Back to top |
0
7
|
mha3484
|
Thu, Jul 18 2024, 6:18 pm
|
I live in an area where the houses don't really accommodate more then 4 kids 2 per room. 6 if you want to really squish and do 3 per room. A lot of people add on two extra beds/baths and take that into their can I afford this calculation.
| |
|
| Back to top |
0
0
|
|
amother
Waterlily
|
Thu, Jul 18 2024, 6:20 pm
|
People re-mortgage their homes to pay for renovations.
| |
|
| Back to top |
1
9
|
|
amother
Dill
|
Thu, Jul 18 2024, 6:25 pm
People always ask “how do they afford”
The answer is they make enough money to afford it, or their parents are gifting it to them, or they are borrowing or begging.
Many many people have jobs like healthcare, Amazon, real estate syndications, brokers, nursing homes, and businesses and make 500k +
(We don’t, and we aren’t renovating.)
| |
|
| Back to top |
0
9
|
|
amother
Lightblue
|
Thu, Jul 18 2024, 6:36 pm
| amother Seagreen wrote: | | I built a home when my husband was in school and I was a sahm. My family paid for it in full. We do not have a mortgage. We pay full tuition bh. People who have nice homes around me have family money or good job/business. Yes everything got very expensive lately. People also take out loans and pay it back slowly. |
Thanks for your honesty!
| |
|
| Back to top |
0
4
|
|
amother
Bone
|
Thu, Jul 18 2024, 6:45 pm
|
I feel the same way op ! Dh keeps telling me its all from Hashem ..
| |
|
| Back to top |
0
4
|
|
amother
Ultramarine
|
Thu, Jul 18 2024, 7:43 pm
| amother DarkCyan wrote: | | Highly doubtful people are doing 100k+ extensions on their credit cards. |
Lol 100k. Finishing a ready basement costs that today.
Small additions these days are $$$$. Everything has gone up like mad. Construction is almost double 5 years ago.
| |
|
| Back to top |
0
4
|
|
amother
Violet
|
Thu, Jul 18 2024, 7:46 pm
|
Some ppl have money from Amazon, healthcare, real estate.. other take out loans and remortgage their house, others borrow an insane amount of money from a bunch of different people and some have family that pays. One of my neighbors are doing renovations the person paying for it wants to keep him in the yeshiva he works at so he’s making the house more comfortable for my neighbor.
| |
|
| Back to top |
0
0
|
|
amother
Lotus
|
Thu, Jul 18 2024, 7:49 pm
| amother OP wrote: | | Live in suburban area. Almost every couple of blocks , there is house being renovated or complete or partial knockdown and building huge homes on small lots . the past 2 yrs. I have noticed a huge uptick. I'm curious how ppl are affording this with yeshiva tuition bills. We live in a smaller home and have saved a lot for retirement BH. That is our choice, but really wondering. Plz no attacks , just wondering how so many pple can afford this when everything is sooo expensive. |
Sounds like me in Baltimore.
| |
|
| Back to top |
0
3
|
|
amother
Heather
|
Thu, Jul 18 2024, 7:59 pm
2 things that I think might attribute to this.
The market is so crazy with hundred rates so high that he someone considered moving to a bigger place it might be more worth to fix up theirs.
Also houses went up so much in the last few years. It's very easy to get a loan against your house. Since I bought my house 3 years ago it doubled in value. You obviously have to be able to pay it back but it does give homeowners access to cash
| |
|
| Back to top |
0
4
|
|
amother
Silver
|
Thu, Jul 18 2024, 8:01 pm
Lots of people build up debt. Some have family pay their tuition or for their extensions.
It is a hard time in general for financing so it’s a very legitimate question
| |
|
| Back to top |
0
1
|
|
amother
Pear
|
Thu, Jul 18 2024, 8:11 pm
| amother DarkCyan wrote: | | Highly doubtful people are doing 100k+ extensions on their credit cards. |
We did a 200k extension and we still owe a good chunk of that. Half of it is too my father in law who doesn't need it back really. We hope to one day, and if it's too late then it'll be on his will most likely.
The rest is to gemachim and interest free credit cards. BH we can pay them off monthly.
We still pay full tuition. It's not always easy but this is our priority and we took a risk. Happy that we did it before marrying off kids though.
We had a very small house before. Space isn't a luxury with older kids.
| |
|
| Back to top |
0
1
|
| Related Topics |
Replies |
Last Post |
|
|
Curly Extensions and Halos
|
2 |
Mon, Oct 21 2024, 9:49 am  |
|
|
cost of building a 4000 square foot house in lakewood nj
|
62 |
Wed, Oct 16 2024, 1:11 pm |
|
|
Getting rid of fruit flies in apartment building help
|
9 |
Mon, Sep 23 2024, 7:32 am |
|
|
Trash chutes locked Brooklyn building
|
6 |
Sun, Sep 15 2024, 8:37 pm |
|
|
Building an extension in brooklyn
|
10 |
Wed, Sep 11 2024, 2:54 am |
|
|
Imamother may earn commission when you use our links to make a purchase.
© 2024 Imamother.com - All rights reserved
|  |
 |
|
 |
|
|
