Quote:
Originally Posted by JSH
We've been heading the opposite direction for 20 years following work. Michigan to Virginia to Tennessee to Alabama to Oregon.
We sold our house in Alabama for $150,000. ( 1500 sq ft house, 3 bed, 2 bath, 2 car garage, attached 300 sq ft workshop w/ HVAC with everything updated) We replaced it with a 1000 sq ft 3 bed / 1 bath that needed some work for $250,000. However, our house in Oregon is worth $365,000 today 5 years later while the Alabama house is worth $175,000.
Yes, housing is cheaper in other places but high paying jobs are lacking as are other opportunities. Just the breadth and depth of dining options here in the Portland area is amazing. As are the recreational opportunities with the mountains and ocean about an hour each way. Portland is the best place we have lived so far and we can afford to live here.
We are looking to retire in 2 years to travel full time. We will likely sell the house in Oregon and invest that money in rentals in less expensive markets. (Assuming our rental test case goes well - we close in 24 hours)
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True from a real estate investing perspective its always a great idea to work with the expensive and growing markets during your working life and retire back to the cheaper more relaxed areas. Makes a lot of sense as long as you can afford entry which it looks like you followed a good path.
For me as a manufacturing engineer it seems my job follows the cheap labor market lol (the further south you go the cheaper the labor lol)