Staying In Your First Home

 While recently visiting friends in New York, I heard the same refrain... how high the rents had become.  One artist was spending over fifty percent of his paycheck on rent, and he had to get a roommate.  Another told me that she used to be able to pick up take-out food for eight dollars, and now it is far more expensive.  She doesn't cook.  They didn't plan for inflation.

My father warned me many years ago that as you get older, the value of a dollar will shrink.  He remembered buying hot dogs for a nickel, and that sort of thing.  The big cities like San Francisco, New York, and Los Angeles are pricey.  

I was fortunate to buy my cottage in a down market for $89,500.  In California, property taxes are one percent of the purchase price.  Back in 1998, that was about $100.00 a month.  Even that was a stretch for me at the time, freelancing as a ballet and yoga teacher.  

Thankfully, I stayed in that little house.  What used to be considered the outskirts of town is now being developed.  Because I planted fruit trees, and amended my soil each year, I am able to grow a significant amount of organic produce.  They are now mature, and loaded with fruit.  That makes a huge difference in my grocery bill.  I buy meat and chicken on sale, and store it in the freezer.  All my meals are cooked at home, and nothing is wasted.  I grow my own herbs and dry them, too.  Staples are bought in bulk to save money.  I am still going through a huge bag of white rice that is in my freezer.

I lived in New York for just one year, in the eighties.  Even back then, I was shocked at how expensive everything was.    I made $375.00 a week teaching dance, and my rent in Astoria was one fourth of my income.  I earned enough money for basics, but not for extras.  My splurge was taking classes.  That was the highlight of my stay there.

We need to plan ahead for our retirement.  Having a paid off home as a senior is a huge relief.  Skyrocketing prices cause so much stress for long term renters and those who live in high cost of living areas.  It's so important to keep your expenses low.  That money that used to go to the landlord can then pay for health insurance, gas, electricity, or groceries.  

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