This reminds me of HGTV Shows: The husband works part time threading buttons at a tailor shop. The wife sells baskets woven underwater. Their budget is $2.5million.
And it's a bit psychological. If you watch it enough, you start to imagine "I could afford a 1.2 million dollar mortgage with my $42,000 a year Amazon job."
Then you're in debt for life or get repoed.
The new norm. We live leased lives while the rich get richer.
I highly recommend the book Rich Dad Poor Dad. It tells us what they do that we don't. Hey, if I can take a page or two out of their playbook and do better for myself, I'd rather do that than kvetch.
You're looking at it backwards - I would have a smaller house because I wouldn't be able to afford a house this large on my own. Suggested by the "with a good second income" part of my initial comment.
Yup- being mid career, a DINK, waiting a bit to start a family helps a ton.
Get a solid career or be on a path to a solid career then save, invest, be frugal, grind in the 20s and 30s 💪
Some factors are outside of our control, but maximizing the potential for what we can control will help move things in the right direction.
We both work and have no where near close to that kind of money. Most of our friends and family as well. Nurses, engineers, medical sales, HVAC, bank manager, school admin. We all make decent money and none of us have a home like this 🤷🏼♂️
What do you call "decent money"?
I'm a software engineer and I didn't start making much more until I started working outside of Rochester. E.g. I was working a job as a senior engineer here in the city at Mindex, they paid me around $85k a year (+benefits). I left. I got a remote job in CA, it pays double that.
Not sure why you think it takes a 3k sq ft home to have taxes over 10k.
We live in Fairport and pay over that on 2k sq ft.
Software developer and engineer is what we do.
It depends on where they are looking, and this isn't something that most people ever think about until they start shopping.
My parents are in a 1400sqft house in Penfield that was last assessed at 170k. They pay about $5500 in property taxes each year. The house next to theirs is 3000sqft and they pay $8800 in taxes. But go 1000ft down the road where taxes are all Webster and you will pay $8800 on 1500-1800sqft.
I have about 3,000 sq ft in Henrietta and property taxes are under $10k/year. Purchased in 2019 for under $300k.
I’m also a software dev. My partner works as well.
I was happy in my old 1,400 sq ft house but my partner really wanted more space. Seemed excessive at the time. But now with two kids, frequent houseguests, and both WFH, I love having this much space.
I figured 10k plus in taxes is at minimum 1k to set aside for just taxes alone a month! That's freaking nuts. I have an 1800 sqft home with 8 acres in Riga and I pay $4400 a year combined for taxes
We do well and our life style isn't super frugal. We go on vacations a few times year while also instituting "austerity measures" every once and awhile; we were worried about our budgeting with the first kid. We honestly didn't notice too much of an impact in our finances. 3 years later with kid two coupled with the current economy and inflation, things are definitely thinner.
Yeah lol. Makes sense. I could barely afford a 2k mortgage if I could even get one. I seriously don't understand how people are supposed to survive anymore
Yea, I grew up in Chili and my parents are still there and pay very little in property taxes. Its all relative. Our school taxes are high here, but generally considered to be fairly good for the area.
I don't mean to downplay people that struggle here, but 10k a year isn't that much for us since we both have good white collar jobs. We were in CA for a while and our home would have been 1.5 million there so.
They have been high in comparison to house prices, but not compared to square feet.
Only anecdotal, but I had family in the Pittsburgh area with a house comparable in size to what they have here now. In that suburb their property taxes went up more in one year than they pay in total here.
Property taxes here are some of the highest in the country by a percentage. I find it hard to believe that they would be paying a higher percentage in Pittsburg than here unless they are in one of the lower taxed towns.
So we bought our 2,200sq.ft home in Fairport based on location, schools, lot, etc. specifically bought a house that would fit our needs with a family, but not overboard because of the taxes, which are essentially a sunk cost that you don't get back. Even on this house we are at $7k/yr with an assessed value of $300k but a uniform factor of like 70% so I am waiting for both to be jacked up at some point...
Yes, and the person had moved here -- and I'd bet they don't do that where that person moved from.
Either way, that amount is accurate for the property only portion. School taxes will be a shocker when that comes in the mail.
Oh dear, I hope they are not so ignorant that they don't understand they also owe school taxes. That was a very clear thing that our lender told us.
I mean I already knew it cause I grew up here but...
I'm a lawyer. Primarily a real estate practice with related fields like small biz, lending, estates. I moonlight as assigned counsel in family and criminal courts in Allegany County. I'm on my fifth year of practice.
My wife is a therapist in a small practice. She works around 20 hours per week. We have one child who she watches the rest of the week since day care would cost us way too much money. My mother is our "day care."
That's absolute insanity. We tried so hard to get our kid into the JCC because it wasn't prohibitively expensive and would turn into a pre-K program, but the wait lists are so long. We signed up 6 months before our kid was born and still didn't get off the wait list. F that.
We put off moving to your neck of the woods in part to take advantage of EPK and UPK in the city. Our friends with kids near you said while it nominally exists, none of them were able to get in and we could pretty much count on paying for daycare.
Though the longer it goes, the less I’m looking forward to the list of home projects I should do before we sell. Our listing might read “Pretty much turnkey. Some recent updates. Please ignore the tile floor in the kitchen.”
We lived in the city when our kid was born, but we didn't take advantage of any of the city programs. We sold our house in really bad condition for $120k more than we bought it for in 2015 ($120k in 2015 > $240k in 2023, North Winton Village). Don't worry about the projects that "need to be done." A realtor will stage your home to make it more appealing. I repainted, replaced outlets/switches, fixed some ceilings, and that was it. Floor needed to be refinished badly -- probably hasn't been refinished since 2005 when the prior owners put carpet over it. Mechanics were all circa 2007. Garbage house, but it sold quickly for way more than I expected (and I'm in the industry -- still shocked). That house was a money pit. So glad to be rid of it.
I am often curious about this. With neighborhoods like Cobblestone or Ambassador Dr with 30+ $1mil+ houses, how are there this many rich people in Rochester when it doesn't seem like the economy is THAT booming. I wonder the same thing with country clubs like Oak Hill, CCR and Monroe where hundreds of families in the area can afford $1000s of dollars a year on that kind of luxury.
I know a bunch of people like this, a lot are in finance, some doctors and lawyers, and then also a lot with those jobs plus generational wealth that gave them a big leg up to begin with. They might have gotten their house from their parents (free or heavily discounted) and have trust funds that pay for some or all expenses. A lot of the wealthiest families in Rochester stay in Rochester for generations and can pass down primary homes as well as lake houses.
Rochester isn't "booming" with large business, but there are a TON of very profitable small/midsize businesses you've likely never heard of, the owners of which are very wealthy. These are those people, in addition to the doctors/lawyers/finance/sales people who are buying these houses and joining the country clubs
A handy resource for learning about local industry is the Rochester Business Journal. You get a much better idea of what industries are booming, as well as real estate trends and stories about nonprofits.
The economy for engineering and white collar jobs is pretty good here. Tons of businesses that are demanding the graduates from our local universities.
The median wages in the area is severely lower due to Rochester city. The median household income in Pittsford is 124k. More than three times the median in Rochester.
Every company has people at the top and there are tons of companies you wouldn't realize exist here. Every CEO, president, vice president, director etc at those companies can afford expensive houses. Large companies that aren't from Rochester that have more than 100 people locally will have a few at the top locally that can afford those houses. Most doctors can too and there are probably thousands of those in the area.
This exactly. I drove through some expensive neighborhoods in the Westside . Younger adults (looked my age) with kids and I asked my wife. How the hell do they pull these off?
Haha I hear you. I have a large house in a very nice neighborhood. 3600 sqft plus about 2000 sqft in a fully finished basement. Very few people come from generational wealth (most didn't receive help from family to purchase). The majority of people are middle aged and move to a smaller house once their kids leave. So the neighborhoods can be dominated by younger people. Some of the jobs of the people around me that are in there 30s and 40s are: directors/vps/presidents of larger companies that have a presence locally but are not headquartered here, sucessful business owners, Doctors, lawyers, Airplane pilots, sales executives (mostly like VP level or above at large companies), school superintendents and assistant supers, and some multi generational families that all pool their money (4 income earners with decent jobs).
It's not uncommon to have dual income earners but typically one person is driving the majority of the income. At that point, it's not worth a spouse working 40 hours a week to make 50 k a year when the other spouse is making 6 to 10 times that. So there are a ton of part time people and stay at home moms. More than you would think.
Oh and a bunch still live paycheck to paycheck. They have almost no spending money because they needed a huge house. it's not uncommon for someone to lose their job and have to move or be transfered to another city by their employer.
I also don't understand. But my buddy in reno works at a factory no college, etc. Has 135k at 30. But he's also single. Is grand fathered into a 600 month studio. Meanwhile, I'm married with two kids' rent is 3 times what he pays. But it's possible for some
Many of the wealthiest people I know in Rochester (and I know quite a few) live WELL below their means. Not really much pressure to have the latest and greatest fashion, cars, etc. & it seems that frugality is often admired in these circles. They spend on their homes & clubs, because they tend to value family and friendships over anything else. Priorities are just different here than other cities. Clubs are frequently considered a business expense because of the amazing networking opportunities they provide, and can at least be partially written off at the end of the year. I couldn’t imagine not being a member of mine! (Late 20’s almost HENRY)
My husband is a Senior Software Engineering Manager for a big tech company and works remote. We have a house that is 4,100sq/ft in Webster, We pay around 18k in total taxes every year. We bought this house 2 years ago and the house itself is about 20 years old. Were mid 30's with two young kids in elementary school. I'm pretty much a SAHM, I work a few hours a week doing personal training.
I have a 2500 sq ft house in Henrietta and pay 13K in taxes. My wife and I both work for municipalities. We don’t make as much as many here I bet but we both can retire before 60 with 30 year state pensions.
From reading all of these comments it seems like once the tech jobs dry up here shortly there are going to be a lot of 3000+ square foot homes for sale.
I'm afraid the dry up already started. Lots of nationwide layoffs have been going on, and college graduates struggling to find tech jobs in the fields they studied for
I feel like AI is going to make everyone much more productive here shortly, once that happens these tech companies are going to be able to get the same amount of work done with 1 person as they did with 5 beforehand. Its a matter of time before 80% of these people are dead weight. Its all about margins and cutting the fat and if these people can afford million dollar homes working for someone else then they are the fat. If you want to be rich I would recommend not working for anyone other than yourself.
It will be AI and oversaturation of the field. Every high school student reading about these lucrative remote jobs is entering IT/coding. You can only brag so many times about how you relax at home 60% of your workday before your employer catches on that they can make some cuts.
I own a home remodeling company. Not general work. It’s niched down to a trade. I’ll keep my personal info at a minimum as I may have worked on some of the peoples homes in here. I actually recognize some of the ppl in here lol. Actually a couple ppl in here don’t like me bc I don’t always communicate the best but that’s why I have an office and people want to talk to specifically me and respectfully, that’s just not always going to happen. Anyway, just built and maintained a good reputation that has became profitable. Used that money to get into real estate. Good staff. Good service. I am in my early 20’s. Live in a 4800 sq ft house off 96 and own 8 rentals now fully occupied. Us blue collar guys get slept on. No mortgage. Most of my money comes from my business. I am attempting to replace it with real estate. Much higher quality of life given the long term physical defects of staying in a skilled trade.
No my parents didn’t help. Put that on God. Dad in prison, mom a social worker. Single mom 4 kids. I genuinely and humbly did this myself.
If someone in here recognizes me, pls keep it to yourself. I rlly don’t want to be known like that. I like my small town life. And don’t want any negative repercussions. I truly just do the best I can with everything I do. I love Rochester
This is Rochester. I know quite a few black market business owners with massive homes and more than 1 property. You should see how well off the owner's of the smoke shops (that are selling illicit marijuana) around here live. Like millionaires
Hasn't yet, most of the gas stations and head shops around me are still moving product, and I'm outside the city. Inside the city is so much worse. Everytime they get raided they open right back up, the money is too good, they'll pay the fines and get right back to it. Everybody is getting their cut
How does this stuff work. Do you not go to jail anymore? I know a kid who was always a drug dealer. He went "legit" lol has a store front. Online shop deliverys etc. He's rich now... how are they doing this and not going to jail
We are probably about to find out that a lot of people can't actually afford it. If they had the property before the pandemic then sure lots of people could manage it.
But there was a huge difference between paying $8000-$15000/year in taxes when your mortgage was only $300-$500/month.... vs today people taking on those taxes and insurance on top of a $2000/month mortgage payment.
The second something goes wrong a lot of new buyers are going to be in trouble.
Tbh I think a lot of it is remote work. Collecting pay for jobs that were not here. Seems like a hidden or under discussed problem. Cost of living is low here so they make out great with a job that doesn't require them to be at their home base often.
[One out of every ten adults in the United States is a Millionaire.](https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report/tables.html) Sure, most of them are recently retired or nearing retirement age when people are at their financial peak but still, it isn't exactly rare.
10% of Americans are Millionaires.
[And one out of every 13 households in Monroe County make over $200,000 a year.](https://datausa.io/profile/geo/monroe-county-ny) So if you have 130 houses in your neighborhood, then statistically speaking, 10 of your neighbors make over $200k a year. Not exactly rare.
And those numbers aren't static. People (and families) move through income brackets through their life. Some of the people who live in big and expensive homes only make $90,000 a year despite making $250,000 a year prior to retiring. But now in retirement they make $90,000 with a paid off house.
So while they aren't included in that high earner category statistically any longer, they reaped the benefits of being in the category before and have kept those benefits for decades after.
Some people (and families) who make $70,000 will be making $150,000 five years from now (as they move up in their careers or their spouse returns to work after being at home with the kids.) So even for them those houses aren't out of reach, if that's something they prioritize.
I remember when there were the the Occupy Wallstreet protests and they would chant "We are the 99%" thinking, "the 1% wasn't really that rare..." That means one out of ever 100 people... There are 312k households in Monroe County, so statistically speaking there are 3,120 households in the 1% in Monroe County.
I bought s home in the city for appx 90k. Worked a ton of ot and paid it off in 4 years. Sold it for 117k in 2018.
Bought another house in 2018 for appx 165k ( 100k mortgage) and worked a shit ton of ot and paid it off in 2 years.
I don't vacation much, don't have fancy stuff, and go without what a lot of other people have and work as much as I can.
I'll prob do the same and trade up for another home in a couple of years. I'd rather fully own the smaller home vs lose a larger one if job is lost etc.
Plus now it costs appx 650 a month after village. Town school and county taxes. I have cash flow to invest etc.
My husband is an art teacher and I was a civil litigation paralegal, though I took the last five years off to be a stay at home parent. I was the primary earner until about 7 years ago. I worked like crazy, basically sacrificing my 20s, to get in early on saving for retirement as well as a down payment. We held off on having a child until we bought the house. Our home has a fully distinct 2-bedroom in-law apartment in the walk out basement, so that accounts for 1,200 sq ft of the home. It needed cosmetic work (everything in good order, just outdated and no new interior work since the mid-70s to early 80s), so that made the home more in our price range even including costs for updating. It is in a suburb to the SW of Rochester, so the price was far less than in other areas. We've gotten by living frugally on my husband's salary, but I am returning to work this summer. Thankfully, since we will soon rent out the renovated in-law apartment, I will have some flexibility in choosing my positions and working part time if the hourly rate is high enough.
ETA: Our property taxes are far less than 10k/year.
IT product manager and HR Advisor. We are well into our 30s (37 and 38) and it took time to get a house this size. 3,800 sq ft without the basement. We started in a smaller house in our early 30s built up equity and put in some updates and sold it for a pretty good down payment for this one.
Think you have to work backwards on this...
Mortgage and insurance is x per month, should be 25 percent of your income (or less) so I need to make 4x to own this home, what careers make 4x in Rochester or working remotely...
Taxes are $10k+ and house is barely over 2000sf and 50 years old.
Property/school taxes are crazy in NYS, but especially WNY. If you research the effective property tax rates Monroe county is always top 5 in country and many years sits at #1.
How do we afford it? 2 incomes both of which are relatively good for the area, engineers. We are always asking each other how other people do it because we feel very fortunate to make good salaries and still have to be disciplined in budgeting. Not in a position to own more than one home, but one is enough to take care of!
My wife and I make decent money, we also question how others do it. Unfortunately with some of these people if they are down to one income they may be fu$ked.
Wife and I purposely purchased a home based off one our incomes. You can blame kodak foe the recency bias in our thinking.
You say that but idk I’m from Westchester. Our 1/4 acre, 2900sq ft house had taxes around 30k. A large chunk of that was for the schools, which is why my parents tried to justify it. But….the schools were trash compared to the kinds of programs and resources kids have access to here in Rochester.
Westchester pays the most actual dollars, by far, at least compared to Monroe county, but that is due to home values being much higher. My point was "effective tax rate". In 2022 we were first but I believe 2023 we were 4th or 5th.
https://www.moneytalksnews.com/slideshows/counties-with-the-highest-property-taxes-attom/
The first question I'd ask is why do you want a 3,000 sq ft home?
I see a lot of people buy a house that fits their dreams, not their actual use case. I may be in the minority here but to me having a bigger house for the sake of having a bigger house seems silly.
Bigger house means higher taxes, higher utility bills, more cleaning. I could have gone for a bigger box, but I like my smaller box with nicer things in it. Granted if you plan to have multiple kids, sure I see needing the space. But if you want a "work out room" and a "game room" and a "home office", ask yourself if it's more important to have all those rooms be separate and how much will you use them, versus the extra costs.
But how would everyone know how rich you are if you don't have a massive house?
I do agree with you, a big house seems like it would be awesome, but then I start to get a headache thinking about all of the maintenance, cleaning, furnishing, yardwork, etc. However, if you can afford those houses you just hire a lot of that stuff out.
I have some friends who are Wilmot-related with a massive long ranch house plus a huge piece of property (like 100s of acres) with ponds, pool, golf hole etc. The wife grew up in the house and they moved there when the parents passed. It is a bit excessive, but on the other hand I think they used to host a lot of large parties, fundraisers etc and also have a very large extended family.
They basically have an army of people that take care of the place, but I feel like I would just lose track of stuff in this house. There are rooms that they probably go months without seeing. It is pretty fun to visit though and be able to tell the kids to go play and not have to hear them like at my house
Keeping up with the Jones's is what keeps people from getting ahead in life. I got a friend in their late 20's who is complaining they'll never be able to save up for a home.
They're in their late 20s, single, and rent a house, by themselves.
When I suggested they downsize to an apartment they said that they like living in a house, and they're "almost 30, I shouldn't still be living in an apartment". So I suggested a roommate "I'm almost 30, I'm a little old to be having roommates".
Now yeah, home prices are ridiculous, but at the same time, my friend is spending several hundred dollars more a month than they need to, just to have the right "image". And it's holding them back.
I see a lot of people who buy more house/car/whatever than they can afford, and then it keeps them just treading water. Just because you can *pay* for something, does not mean you can *afford* it.
That apartment comment is so out of wack. Who does he think lives in the nicer apartment complexes around the city? Lots of 30yo singles who can afford those instead of a rickity rental house. And if you still want to be in a cool part of the city there are plenty of nice apartments in old houses or multi-unit buildings.
I actually had roommates until about 34, which might be a bit too long. It was a bit fratty but a really big house with our own bathrooms and huge living areas, so we didn't feel like we were on top of each other. If you're single it can be nice to not be home alone all the time if that's your thing.
And guess what, on top of this house was a nice apartment rented by...a single 26yo female!
I drive a hideous old Honda with 60,000 miles on it. I do not care what people think about my car. It’s got a great engine & the a/c works. Will try to never have a car payment again.
Partner is exec chef, I was HR before having my kid. Going back to work in a few months.
Oh she is magnificent but absolutely hideous. Her previous owner was a grandmother who took out a parking meter so the front pass door is inoperable & quite scarred up 😂
I work in CyberSec as my day job, and also a RE Investor. I have multiple properties for rent in the surrounding areas. Generally those who can afford $10k property taxes are usually dual-income families. Lets not talk about those primary residences with 50k+ property taxes.
I’m a real estate agent here. I don’t really focus on rentals. I only rent out properties that I manage for my clients. I have a good number of qualified tenants who are looking for a place if you have anything coming up. These are folks who will be good tenants.
Can You elaborate? The statement is a bit unclear; as w/ everything, the hardest impacted are the working class, working poor & jobless Folk. So the statement seems to imply that _____ hinders growth for so called middle income & rich ppl. But I don't think that was Your point.
Couples working in a combination of tech, medicine, legal, finance, etc, are often bringing home a combined income of anywhere between 200k-400k and up, working locally or remote.
The house you can afford single vs as a working couple is very different.
We moved to the area three years ago. We live in a pretty regular 4 bedroom colonial in Fairport. We bought at the height of the market and definitely overpaid comparatively. However, I’m a SAHM and my wife is a retired NYPD detective. What you can get here, even at these inflated prices, is still considerably less that what you would pay downstate on LI or in the city for the same or smaller house. We also sold a home in Queens for above asking, so the overpayment was a wash. My wife works as a teachers aid for an elementary school. It definitely does not pay well, but that in addition to her monthly pension, allows us to live pretty comfortably.
What is the average cost of like 2000 sq ft in good area w good schools there w nice yard?? That would like 7-8k taxes there ? NYC is area( LI/NJ / westchester … is like 800-900k for that and 10-25k taxes 😫😫😫😫
Integration Engineer living in Fairport and working remotely for a health system in another state. When we built our house a few years ago, the taxes were about 10k. They’ve gone way up since then, partly because of improvements that we did, and also because of the way home prices have inflated recently.
Started a career in software development, which eventually shifted into consulting.
While doing that, invested in real estate, opened a wine/liquor store, and now spend most of my time mentoring businesses and investing into businesses.
Ask me anything.
House isn’t 3000-sf but Its on 5 acres also have a nice duplex I rent. I do industrial hvac wife is a NP we are ballin on a budget zero debt beside the house and that’s paid off in 5 more years!
Purchased my first home at 22yo, fixed it up and flipped it for a significant profit 6 years later. Did the same with second house. Later got married, sold two homes in 2021 for a huge profit and bought one home that meets your description at 2.875 interest, dumping cumulative equity into the purchase. Now we have a reasonable mortgage and absolutely absurd taxes. It's a lifelong challenge.
Both of us are professionals making a good salary.
3000 square?
I am trying to to grasp my house being bookend as a ‘Tiny Home’ @ 833 square feet…with three bedrooms with a ‘surprised’ half finished basement (when the inspectors checked it…)
literally we where told the house doesn’t have…. a basement while we where standing in it…
which back checking the 1st owner, who was a Retired Navy Seabee Engineer who bought the house with under the GI bill…
very crafty guy…
Okay so, as a guy who owns two houses - the tax thing is a point I see made over and over. It really does not cause an issue since mortgages here are (were...) still really cheap.
I have one that's being rented out that I'm fixing up slowly. 1125 mortgage at 3.2% interest for 1200 sq feet. The home I live in is 3br 1500 sq ft and the mortgage is 1250 at 2.5% interest. The answer to your question is not taxes it's interest rates and property values. Taxes are 300-400 dollars every month but my mortgages are still crazy low for what I'm getting compared to people I know in other places.
And don't forget, a LOT of people with homes now either got in at the point that I did (2020, 2021) or they refinanced during this period. Sure less of my mortgage goes towards my principal but it's also an incredibly affordable mortgage. I know people paying my mortgage for a two bedroom apartment.
Also we pay a lot in taxes but we get it back in other ways a lot of other states with "lower taxes" don't.
1/3 of that is finished basement typically, on a 40x25 frame @1000sqft/floor. I hate how they count a finished basement towards this.
they also count the thickness of outside walls, so if i add exterior insulation it changes my footprint. another pet peeve- insulating makes tax go up due to this too
My husband is in sales management. He works from home for a company that's based out of state - that's pretty common. Our neighborhood is large new build homes, and I'd say it's mostly young families. Most are dual income - there are a lot of white collar folks and business owners, but I also see a lot of nurses and successful trade workers. Between the tech and medical fields, remote work, and the ton of small-mid sized businesses based here, there are actually a lot of paths to making good money in Rochester!
That said, never underestimate the amount of debt that some people are willing to go into to afford what looks impressive. We didn't feel comfortable going anywhere near what the bank approved us for (and definitely don't own the biggest home in our neighborhood lol), but I wouldn't be surprised if there are a lot of "house poor" people in these homes you're looking at.
It's easy to complain about the high property tax rates in Rochester and NY in general, but this map shows clearly that [we get what we pay for](https://en.m.wikipedia.org/wiki/File:Funding_of_K-12_schools_map.png). And for those that like to point out that Victor and greater ontario county have lower taxes... they also get what they pay for. That one light green dot just south of Roc, thats Victor.
That doesn’t show we get what we pay for at all. It just shows what we pay for. Rochester city schools are some of the lowest performing in the country and some of the most well funded.
The schools are well funded but a lot of the families attending them are not. It's hard to pay attention in school when you're not getting enough to eat
I agree the problem is very complex. Teachers should be able to teach and not have to be social workers. There’s other things missing outside of the schools.
This reminds me of HGTV Shows: The husband works part time threading buttons at a tailor shop. The wife sells baskets woven underwater. Their budget is $2.5million.
[Artisanal Pencil Sharpening](https://vimeo.com/60718161)
That is awesome lol
HAHAHAHAHAHA
Yea, I actually think the producers did that shit on purpose just to get people to watch. It was stupid.
And it's a bit psychological. If you watch it enough, you start to imagine "I could afford a 1.2 million dollar mortgage with my $42,000 a year Amazon job." Then you're in debt for life or get repoed. The new norm. We live leased lives while the rich get richer.
I highly recommend the book Rich Dad Poor Dad. It tells us what they do that we don't. Hey, if I can take a page or two out of their playbook and do better for myself, I'd rather do that than kvetch.
Software dev, wife is a social worker. Took us about 20 years in the workforce to own anything.
Social worker as well. It takes awhile to move up in that field to earn a decent income.
Windows Cloud Engineer. I'd own a much smaller house if I wasn't married with a good second income though.
IT is the way!
[удалено]
You're looking at it backwards - I would have a smaller house because I wouldn't be able to afford a house this large on my own. Suggested by the "with a good second income" part of my initial comment.
thats why he is an amazon cloud engineer
But he works for a fortune 50!
inferring that he just attends meetings about AWS?
Different people have different priorities and that’s OK.
Context clues came up with his spouse wanted this...
Hopefully you're better at your job than you are at reading comprehension.
Whats a better investment than housing?
Many are owned by couples where both people work.
Yup- being mid career, a DINK, waiting a bit to start a family helps a ton. Get a solid career or be on a path to a solid career then save, invest, be frugal, grind in the 20s and 30s 💪 Some factors are outside of our control, but maximizing the potential for what we can control will help move things in the right direction.
We both work and have no where near close to that kind of money. Most of our friends and family as well. Nurses, engineers, medical sales, HVAC, bank manager, school admin. We all make decent money and none of us have a home like this 🤷🏼♂️
What do you call "decent money"? I'm a software engineer and I didn't start making much more until I started working outside of Rochester. E.g. I was working a job as a senior engineer here in the city at Mindex, they paid me around $85k a year (+benefits). I left. I got a remote job in CA, it pays double that.
My husband’s a nurse. I’ve got a grad degree. We meet the qualifications of the post.
Where both people work comparatively high-paying jobs...
Not sure why you think it takes a 3k sq ft home to have taxes over 10k. We live in Fairport and pay over that on 2k sq ft. Software developer and engineer is what we do.
It depends on where they are looking, and this isn't something that most people ever think about until they start shopping. My parents are in a 1400sqft house in Penfield that was last assessed at 170k. They pay about $5500 in property taxes each year. The house next to theirs is 3000sqft and they pay $8800 in taxes. But go 1000ft down the road where taxes are all Webster and you will pay $8800 on 1500-1800sqft.
I have about 3,000 sq ft in Henrietta and property taxes are under $10k/year. Purchased in 2019 for under $300k. I’m also a software dev. My partner works as well. I was happy in my old 1,400 sq ft house but my partner really wanted more space. Seemed excessive at the time. But now with two kids, frequent houseguests, and both WFH, I love having this much space.
Was just an arbitrary number I put.
Yea I figured. Taxes are high here lol.
I figured 10k plus in taxes is at minimum 1k to set aside for just taxes alone a month! That's freaking nuts. I have an 1800 sqft home with 8 acres in Riga and I pay $4400 a year combined for taxes
Imagine having multiple kids in daycare. I have one 2 years in at 5 days a week and 5 year old that does wrap care after school and it's 2k a month.
I have one in daycare 1375 a month. And a baby on the way at the end of this month.
We do well and our life style isn't super frugal. We go on vacations a few times year while also instituting "austerity measures" every once and awhile; we were worried about our budgeting with the first kid. We honestly didn't notice too much of an impact in our finances. 3 years later with kid two coupled with the current economy and inflation, things are definitely thinner.
How does anyone afford that. We'd be homeless. My wife works nights while I work day cause we can't afford daycare. Something needs to change. Jesus
What the daycare? I call it the "2nd mortgage"
Yeah lol. Makes sense. I could barely afford a 2k mortgage if I could even get one. I seriously don't understand how people are supposed to survive anymore
Yeah but you live in Riga. 🤣
Yea, I grew up in Chili and my parents are still there and pay very little in property taxes. Its all relative. Our school taxes are high here, but generally considered to be fairly good for the area. I don't mean to downplay people that struggle here, but 10k a year isn't that much for us since we both have good white collar jobs. We were in CA for a while and our home would have been 1.5 million there so.
They have been high in comparison to house prices, but not compared to square feet. Only anecdotal, but I had family in the Pittsburgh area with a house comparable in size to what they have here now. In that suburb their property taxes went up more in one year than they pay in total here.
Property taxes here are some of the highest in the country by a percentage. I find it hard to believe that they would be paying a higher percentage in Pittsburg than here unless they are in one of the lower taxed towns.
Tech sales...
Same! Medtech. Love it. No 3K sqft house though
You work remote? I am currently in development but might want to switch.
Yeah booi same here
This, I have multiple homes but none are 3k sq ft. Wife doesn’t make much but loves what she does.
If you added them all up, I'm sure it'll come close to 3k?
My primary and vacation homes would total 5k.
These job titles make me feel very inadequate. 😐 Good for you all.
Owning a home at all is a feat. Don't compare your life to others, it only sets you up for disappointment.
Thanks :)
Then make something up. This is Reddit, you can be whatever you dream up.
Umbrella salesman. My wife is a hamster trainer.
I mean. It is rainy here. So I can definitely see the lucrativeness
No way! I sell poncho’s on the corner of Philips Dr and Cook st. Then I go back home to my Mendon mansion. We should merge!
Tech with salaries anchored to higher COL city.
Shhh. Don't say that out loud. Someone in HR will hear you.
So we bought our 2,200sq.ft home in Fairport based on location, schools, lot, etc. specifically bought a house that would fit our needs with a family, but not overboard because of the taxes, which are essentially a sunk cost that you don't get back. Even on this house we are at $7k/yr with an assessed value of $300k but a uniform factor of like 70% so I am waiting for both to be jacked up at some point...
This doesn't sound at all accurate for Fairport. 7k on 300k assessment?
Its because we think in School Tax and Property Tax to be the same. In some places outside NY they are actually on a single bill.
Yea I know that, but when people say property taxes here they're including school and property. At least that is what any reasonable person would.
Yes, and the person had moved here -- and I'd bet they don't do that where that person moved from. Either way, that amount is accurate for the property only portion. School taxes will be a shocker when that comes in the mail.
Oh dear, I hope they are not so ignorant that they don't understand they also owe school taxes. That was a very clear thing that our lender told us. I mean I already knew it cause I grew up here but...
I'm a lawyer. Primarily a real estate practice with related fields like small biz, lending, estates. I moonlight as assigned counsel in family and criminal courts in Allegany County. I'm on my fifth year of practice. My wife is a therapist in a small practice. She works around 20 hours per week. We have one child who she watches the rest of the week since day care would cost us way too much money. My mother is our "day care."
Buy your ~~MIL~~ mother something nice. I totaled our annual daycare costs during tax season, and our only child was almost $18k out-of-pocket.
That's absolute insanity. We tried so hard to get our kid into the JCC because it wasn't prohibitively expensive and would turn into a pre-K program, but the wait lists are so long. We signed up 6 months before our kid was born and still didn't get off the wait list. F that.
We put off moving to your neck of the woods in part to take advantage of EPK and UPK in the city. Our friends with kids near you said while it nominally exists, none of them were able to get in and we could pretty much count on paying for daycare. Though the longer it goes, the less I’m looking forward to the list of home projects I should do before we sell. Our listing might read “Pretty much turnkey. Some recent updates. Please ignore the tile floor in the kitchen.”
What is epk ans upk?
Early Pre-K and Universal Pre-K.
Early pre-kindergarten (age 3) and universal pre-kindergarten (age 4).
We lived in the city when our kid was born, but we didn't take advantage of any of the city programs. We sold our house in really bad condition for $120k more than we bought it for in 2015 ($120k in 2015 > $240k in 2023, North Winton Village). Don't worry about the projects that "need to be done." A realtor will stage your home to make it more appealing. I repainted, replaced outlets/switches, fixed some ceilings, and that was it. Floor needed to be refinished badly -- probably hasn't been refinished since 2005 when the prior owners put carpet over it. Mechanics were all circa 2007. Garbage house, but it sold quickly for way more than I expected (and I'm in the industry -- still shocked). That house was a money pit. So glad to be rid of it.
I am often curious about this. With neighborhoods like Cobblestone or Ambassador Dr with 30+ $1mil+ houses, how are there this many rich people in Rochester when it doesn't seem like the economy is THAT booming. I wonder the same thing with country clubs like Oak Hill, CCR and Monroe where hundreds of families in the area can afford $1000s of dollars a year on that kind of luxury. I know a bunch of people like this, a lot are in finance, some doctors and lawyers, and then also a lot with those jobs plus generational wealth that gave them a big leg up to begin with. They might have gotten their house from their parents (free or heavily discounted) and have trust funds that pay for some or all expenses. A lot of the wealthiest families in Rochester stay in Rochester for generations and can pass down primary homes as well as lake houses.
Rochester isn't "booming" with large business, but there are a TON of very profitable small/midsize businesses you've likely never heard of, the owners of which are very wealthy. These are those people, in addition to the doctors/lawyers/finance/sales people who are buying these houses and joining the country clubs
A handy resource for learning about local industry is the Rochester Business Journal. You get a much better idea of what industries are booming, as well as real estate trends and stories about nonprofits.
I'm in finance. And I'm nowhere close to these financiers.
> I'm in finance. And I'm nowhere close to these financiers. https://www.youtube.com/watch?v=MDIy2CtBdmY&t=4s
Very perfect
The economy for engineering and white collar jobs is pretty good here. Tons of businesses that are demanding the graduates from our local universities.
The median wages in the area is severely lower due to Rochester city. The median household income in Pittsford is 124k. More than three times the median in Rochester.
Every company has people at the top and there are tons of companies you wouldn't realize exist here. Every CEO, president, vice president, director etc at those companies can afford expensive houses. Large companies that aren't from Rochester that have more than 100 people locally will have a few at the top locally that can afford those houses. Most doctors can too and there are probably thousands of those in the area.
This exactly. I drove through some expensive neighborhoods in the Westside . Younger adults (looked my age) with kids and I asked my wife. How the hell do they pull these off?
Haha I hear you. I have a large house in a very nice neighborhood. 3600 sqft plus about 2000 sqft in a fully finished basement. Very few people come from generational wealth (most didn't receive help from family to purchase). The majority of people are middle aged and move to a smaller house once their kids leave. So the neighborhoods can be dominated by younger people. Some of the jobs of the people around me that are in there 30s and 40s are: directors/vps/presidents of larger companies that have a presence locally but are not headquartered here, sucessful business owners, Doctors, lawyers, Airplane pilots, sales executives (mostly like VP level or above at large companies), school superintendents and assistant supers, and some multi generational families that all pool their money (4 income earners with decent jobs). It's not uncommon to have dual income earners but typically one person is driving the majority of the income. At that point, it's not worth a spouse working 40 hours a week to make 50 k a year when the other spouse is making 6 to 10 times that. So there are a ton of part time people and stay at home moms. More than you would think. Oh and a bunch still live paycheck to paycheck. They have almost no spending money because they needed a huge house. it's not uncommon for someone to lose their job and have to move or be transfered to another city by their employer.
It really depends what industry you work in and if you have a combined income with your spouse. I make ~120k a year and im 27 it’s def doable.
In technical spaces, hyper specialization is key.
yea right! post earlier today said couple saved up 100,000 for a down payment? How can anyone SAVE $100,000 ????
I also don't understand. But my buddy in reno works at a factory no college, etc. Has 135k at 30. But he's also single. Is grand fathered into a 600 month studio. Meanwhile, I'm married with two kids' rent is 3 times what he pays. But it's possible for some
No drinking $6 Starbucks / cooks your meals / going modest vacations and both of you make 100k while having affordable housing ..
Don't forget the non-profit execs.
Many of the wealthiest people I know in Rochester (and I know quite a few) live WELL below their means. Not really much pressure to have the latest and greatest fashion, cars, etc. & it seems that frugality is often admired in these circles. They spend on their homes & clubs, because they tend to value family and friendships over anything else. Priorities are just different here than other cities. Clubs are frequently considered a business expense because of the amazing networking opportunities they provide, and can at least be partially written off at the end of the year. I couldn’t imagine not being a member of mine! (Late 20’s almost HENRY)
Mine only FEELS like 3000 sq/ft. And only when I need to clean it.
No kidding. Thank you for mentioning that. You should only have the house size you can clean., In one day.
I always wonder how people with big homes keep them clean… I’m going to guess they have a cleaning service.
Adult entertainer, btw. ;-)
Most of the pharmacists I’ve worked with are married to other pharmacists so they’ve got great household incomes and all have lovely spacious houses.
My husband is a Senior Software Engineering Manager for a big tech company and works remote. We have a house that is 4,100sq/ft in Webster, We pay around 18k in total taxes every year. We bought this house 2 years ago and the house itself is about 20 years old. Were mid 30's with two young kids in elementary school. I'm pretty much a SAHM, I work a few hours a week doing personal training.
Goddammit, you win
Those downstate would cost 2-3 million and 35k taxes .. good prices in ROC area
They are married to someone else who also has a good income
I have a 2500 sq ft house in Henrietta and pay 13K in taxes. My wife and I both work for municipalities. We don’t make as much as many here I bet but we both can retire before 60 with 30 year state pensions.
Medical field - doctors and mid-level practitioners.
From reading all of these comments it seems like once the tech jobs dry up here shortly there are going to be a lot of 3000+ square foot homes for sale.
I'm afraid the dry up already started. Lots of nationwide layoffs have been going on, and college graduates struggling to find tech jobs in the fields they studied for
I think it's already happening. Look how many are for sale again that were just purchased 2-3 years ago.
I feel like AI is going to make everyone much more productive here shortly, once that happens these tech companies are going to be able to get the same amount of work done with 1 person as they did with 5 beforehand. Its a matter of time before 80% of these people are dead weight. Its all about margins and cutting the fat and if these people can afford million dollar homes working for someone else then they are the fat. If you want to be rich I would recommend not working for anyone other than yourself.
It will be AI and oversaturation of the field. Every high school student reading about these lucrative remote jobs is entering IT/coding. You can only brag so many times about how you relax at home 60% of your workday before your employer catches on that they can make some cuts.
lionheart... i hope that's a von damme reference. I agree with you.
Data scientist, partner is a software engineer. Both work remote
Project manager, small biz on side, rental investments
Specialized Field Service Technician work. Wife is an insurance broker. Both credit scores 820+ and no debt other than mortgage and cheap.
We have a 2000+ sq ft home bought in 2020. We pay 10K+ a year in taxes. My husband and I are both engineers.
I’d like to know how people afford this shit too..
*and is your job hiring* 😂😂😂
I own a home remodeling company. Not general work. It’s niched down to a trade. I’ll keep my personal info at a minimum as I may have worked on some of the peoples homes in here. I actually recognize some of the ppl in here lol. Actually a couple ppl in here don’t like me bc I don’t always communicate the best but that’s why I have an office and people want to talk to specifically me and respectfully, that’s just not always going to happen. Anyway, just built and maintained a good reputation that has became profitable. Used that money to get into real estate. Good staff. Good service. I am in my early 20’s. Live in a 4800 sq ft house off 96 and own 8 rentals now fully occupied. Us blue collar guys get slept on. No mortgage. Most of my money comes from my business. I am attempting to replace it with real estate. Much higher quality of life given the long term physical defects of staying in a skilled trade. No my parents didn’t help. Put that on God. Dad in prison, mom a social worker. Single mom 4 kids. I genuinely and humbly did this myself. If someone in here recognizes me, pls keep it to yourself. I rlly don’t want to be known like that. I like my small town life. And don’t want any negative repercussions. I truly just do the best I can with everything I do. I love Rochester
This is Rochester. I know quite a few black market business owners with massive homes and more than 1 property. You should see how well off the owner's of the smoke shops (that are selling illicit marijuana) around here live. Like millionaires
For real? Thought this shit was getting shut down because the mob. I mean government..wasn't getting their cut
Hasn't yet, most of the gas stations and head shops around me are still moving product, and I'm outside the city. Inside the city is so much worse. Everytime they get raided they open right back up, the money is too good, they'll pay the fines and get right back to it. Everybody is getting their cut
How does this stuff work. Do you not go to jail anymore? I know a kid who was always a drug dealer. He went "legit" lol has a store front. Online shop deliverys etc. He's rich now... how are they doing this and not going to jail
Nobody goes to jail in NY for anything.
Entire fact 👍
Nope. They only confiscate and fine, but the money is so much that the fines dont matter
The shop next to plPontillos in Henrietta was raided for selling weed, recently.
Wouldn't be surprised if they were back up and running
We are probably about to find out that a lot of people can't actually afford it. If they had the property before the pandemic then sure lots of people could manage it. But there was a huge difference between paying $8000-$15000/year in taxes when your mortgage was only $300-$500/month.... vs today people taking on those taxes and insurance on top of a $2000/month mortgage payment. The second something goes wrong a lot of new buyers are going to be in trouble.
Tbh I think a lot of it is remote work. Collecting pay for jobs that were not here. Seems like a hidden or under discussed problem. Cost of living is low here so they make out great with a job that doesn't require them to be at their home base often.
This is just cope. Lots of people make good money, even here.
Yea like what 1 in 6 Americans make 100k or more? Put two of them together and now you have $200k/annually at minimum.
[One out of every ten adults in the United States is a Millionaire.](https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report/tables.html) Sure, most of them are recently retired or nearing retirement age when people are at their financial peak but still, it isn't exactly rare. 10% of Americans are Millionaires. [And one out of every 13 households in Monroe County make over $200,000 a year.](https://datausa.io/profile/geo/monroe-county-ny) So if you have 130 houses in your neighborhood, then statistically speaking, 10 of your neighbors make over $200k a year. Not exactly rare. And those numbers aren't static. People (and families) move through income brackets through their life. Some of the people who live in big and expensive homes only make $90,000 a year despite making $250,000 a year prior to retiring. But now in retirement they make $90,000 with a paid off house. So while they aren't included in that high earner category statistically any longer, they reaped the benefits of being in the category before and have kept those benefits for decades after. Some people (and families) who make $70,000 will be making $150,000 five years from now (as they move up in their careers or their spouse returns to work after being at home with the kids.) So even for them those houses aren't out of reach, if that's something they prioritize. I remember when there were the the Occupy Wallstreet protests and they would chant "We are the 99%" thinking, "the 1% wasn't really that rare..." That means one out of ever 100 people... There are 312k households in Monroe County, so statistically speaking there are 3,120 households in the 1% in Monroe County.
This is precisely what I was thinking too
I bought s home in the city for appx 90k. Worked a ton of ot and paid it off in 4 years. Sold it for 117k in 2018. Bought another house in 2018 for appx 165k ( 100k mortgage) and worked a shit ton of ot and paid it off in 2 years. I don't vacation much, don't have fancy stuff, and go without what a lot of other people have and work as much as I can. I'll prob do the same and trade up for another home in a couple of years. I'd rather fully own the smaller home vs lose a larger one if job is lost etc. Plus now it costs appx 650 a month after village. Town school and county taxes. I have cash flow to invest etc.
Live in a neighboring County and bought a condemned home that we fixed, and we're self employed.
My husband is an art teacher and I was a civil litigation paralegal, though I took the last five years off to be a stay at home parent. I was the primary earner until about 7 years ago. I worked like crazy, basically sacrificing my 20s, to get in early on saving for retirement as well as a down payment. We held off on having a child until we bought the house. Our home has a fully distinct 2-bedroom in-law apartment in the walk out basement, so that accounts for 1,200 sq ft of the home. It needed cosmetic work (everything in good order, just outdated and no new interior work since the mid-70s to early 80s), so that made the home more in our price range even including costs for updating. It is in a suburb to the SW of Rochester, so the price was far less than in other areas. We've gotten by living frugally on my husband's salary, but I am returning to work this summer. Thankfully, since we will soon rent out the renovated in-law apartment, I will have some flexibility in choosing my positions and working part time if the hourly rate is high enough. ETA: Our property taxes are far less than 10k/year.
You must be in Churchville!
Yes.
We are at 2800 square feet in Pittsford. Our taxes are about $12k per year. I work in the commercial insurance industry and my wife is self employed
Taxes there are nothing compared to other parts of NYS.
IT product manager and HR Advisor. We are well into our 30s (37 and 38) and it took time to get a house this size. 3,800 sq ft without the basement. We started in a smaller house in our early 30s built up equity and put in some updates and sold it for a pretty good down payment for this one.
Think you have to work backwards on this... Mortgage and insurance is x per month, should be 25 percent of your income (or less) so I need to make 4x to own this home, what careers make 4x in Rochester or working remotely...
Thank you for mathing with me
Taxes are $10k+ and house is barely over 2000sf and 50 years old. Property/school taxes are crazy in NYS, but especially WNY. If you research the effective property tax rates Monroe county is always top 5 in country and many years sits at #1. How do we afford it? 2 incomes both of which are relatively good for the area, engineers. We are always asking each other how other people do it because we feel very fortunate to make good salaries and still have to be disciplined in budgeting. Not in a position to own more than one home, but one is enough to take care of!
My wife and I make decent money, we also question how others do it. Unfortunately with some of these people if they are down to one income they may be fu$ked. Wife and I purposely purchased a home based off one our incomes. You can blame kodak foe the recency bias in our thinking.
That is smart and also what me and my wife did. Buy a house just 1 of our jobs can maintain, to be safe. Allows us to save up even with 2 babies
You say that but idk I’m from Westchester. Our 1/4 acre, 2900sq ft house had taxes around 30k. A large chunk of that was for the schools, which is why my parents tried to justify it. But….the schools were trash compared to the kinds of programs and resources kids have access to here in Rochester.
Westchester pays the most actual dollars, by far, at least compared to Monroe county, but that is due to home values being much higher. My point was "effective tax rate". In 2022 we were first but I believe 2023 we were 4th or 5th. https://www.moneytalksnews.com/slideshows/counties-with-the-highest-property-taxes-attom/
The first question I'd ask is why do you want a 3,000 sq ft home? I see a lot of people buy a house that fits their dreams, not their actual use case. I may be in the minority here but to me having a bigger house for the sake of having a bigger house seems silly. Bigger house means higher taxes, higher utility bills, more cleaning. I could have gone for a bigger box, but I like my smaller box with nicer things in it. Granted if you plan to have multiple kids, sure I see needing the space. But if you want a "work out room" and a "game room" and a "home office", ask yourself if it's more important to have all those rooms be separate and how much will you use them, versus the extra costs.
Mom. I just WANT IT. I don't need it.
But how would everyone know how rich you are if you don't have a massive house? I do agree with you, a big house seems like it would be awesome, but then I start to get a headache thinking about all of the maintenance, cleaning, furnishing, yardwork, etc. However, if you can afford those houses you just hire a lot of that stuff out. I have some friends who are Wilmot-related with a massive long ranch house plus a huge piece of property (like 100s of acres) with ponds, pool, golf hole etc. The wife grew up in the house and they moved there when the parents passed. It is a bit excessive, but on the other hand I think they used to host a lot of large parties, fundraisers etc and also have a very large extended family. They basically have an army of people that take care of the place, but I feel like I would just lose track of stuff in this house. There are rooms that they probably go months without seeing. It is pretty fun to visit though and be able to tell the kids to go play and not have to hear them like at my house
Keeping up with the Jones's is what keeps people from getting ahead in life. I got a friend in their late 20's who is complaining they'll never be able to save up for a home. They're in their late 20s, single, and rent a house, by themselves. When I suggested they downsize to an apartment they said that they like living in a house, and they're "almost 30, I shouldn't still be living in an apartment". So I suggested a roommate "I'm almost 30, I'm a little old to be having roommates". Now yeah, home prices are ridiculous, but at the same time, my friend is spending several hundred dollars more a month than they need to, just to have the right "image". And it's holding them back. I see a lot of people who buy more house/car/whatever than they can afford, and then it keeps them just treading water. Just because you can *pay* for something, does not mean you can *afford* it.
That apartment comment is so out of wack. Who does he think lives in the nicer apartment complexes around the city? Lots of 30yo singles who can afford those instead of a rickity rental house. And if you still want to be in a cool part of the city there are plenty of nice apartments in old houses or multi-unit buildings. I actually had roommates until about 34, which might be a bit too long. It was a bit fratty but a really big house with our own bathrooms and huge living areas, so we didn't feel like we were on top of each other. If you're single it can be nice to not be home alone all the time if that's your thing. And guess what, on top of this house was a nice apartment rented by...a single 26yo female!
I mean neither of us live in the city but yeah. Like bruh you'd save so much money if you just put aside your ego.
I drive a hideous old Honda with 60,000 miles on it. I do not care what people think about my car. It’s got a great engine & the a/c works. Will try to never have a car payment again. Partner is exec chef, I was HR before having my kid. Going back to work in a few months.
~~hideous~~ magnificent old Honda
Oh she is magnificent but absolutely hideous. Her previous owner was a grandmother who took out a parking meter so the front pass door is inoperable & quite scarred up 😂
Haha. Battle scars. Nice.
Daytime trader
Market just opened 7 minutes ago. Better get back to it
4am
I work in CyberSec as my day job, and also a RE Investor. I have multiple properties for rent in the surrounding areas. Generally those who can afford $10k property taxes are usually dual-income families. Lets not talk about those primary residences with 50k+ property taxes.
RE?
Real Estate
Ooooh duh.
Cool! What kind of cyber security work? I largely do application security and exploit writing on the side.
I’m a real estate agent here. I don’t really focus on rentals. I only rent out properties that I manage for my clients. I have a good number of qualified tenants who are looking for a place if you have anything coming up. These are folks who will be good tenants.
I have a family member that owns one. She owns a very successful business with multiple branches in the Rochester and surrounding area.
[удалено]
Can You elaborate? The statement is a bit unclear; as w/ everything, the hardest impacted are the working class, working poor & jobless Folk. So the statement seems to imply that _____ hinders growth for so called middle income & rich ppl. But I don't think that was Your point.
Couples working in a combination of tech, medicine, legal, finance, etc, are often bringing home a combined income of anywhere between 200k-400k and up, working locally or remote. The house you can afford single vs as a working couple is very different.
We moved to the area three years ago. We live in a pretty regular 4 bedroom colonial in Fairport. We bought at the height of the market and definitely overpaid comparatively. However, I’m a SAHM and my wife is a retired NYPD detective. What you can get here, even at these inflated prices, is still considerably less that what you would pay downstate on LI or in the city for the same or smaller house. We also sold a home in Queens for above asking, so the overpayment was a wash. My wife works as a teachers aid for an elementary school. It definitely does not pay well, but that in addition to her monthly pension, allows us to live pretty comfortably.
What is the average cost of like 2000 sq ft in good area w good schools there w nice yard?? That would like 7-8k taxes there ? NYC is area( LI/NJ / westchester … is like 800-900k for that and 10-25k taxes 😫😫😫😫
Probably 300-400k
I own a business, my wife is a higher up at a local company.
Construction PM
Double income household. I’m retired military with service connection and an LMSW. My wife is a nurse and does remote patient monitoring.
Integration Engineer living in Fairport and working remotely for a health system in another state. When we built our house a few years ago, the taxes were about 10k. They’ve gone way up since then, partly because of improvements that we did, and also because of the way home prices have inflated recently.
Started a career in software development, which eventually shifted into consulting. While doing that, invested in real estate, opened a wine/liquor store, and now spend most of my time mentoring businesses and investing into businesses. Ask me anything.
How do I open up a wine liquor store
House isn’t 3000-sf but Its on 5 acres also have a nice duplex I rent. I do industrial hvac wife is a NP we are ballin on a budget zero debt beside the house and that’s paid off in 5 more years!
Purchased my first home at 22yo, fixed it up and flipped it for a significant profit 6 years later. Did the same with second house. Later got married, sold two homes in 2021 for a huge profit and bought one home that meets your description at 2.875 interest, dumping cumulative equity into the purchase. Now we have a reasonable mortgage and absolutely absurd taxes. It's a lifelong challenge. Both of us are professionals making a good salary.
3000 square? I am trying to to grasp my house being bookend as a ‘Tiny Home’ @ 833 square feet…with three bedrooms with a ‘surprised’ half finished basement (when the inspectors checked it…) literally we where told the house doesn’t have…. a basement while we where standing in it… which back checking the 1st owner, who was a Retired Navy Seabee Engineer who bought the house with under the GI bill… very crafty guy…
IT engineer, wife retail store manger
Okay so, as a guy who owns two houses - the tax thing is a point I see made over and over. It really does not cause an issue since mortgages here are (were...) still really cheap. I have one that's being rented out that I'm fixing up slowly. 1125 mortgage at 3.2% interest for 1200 sq feet. The home I live in is 3br 1500 sq ft and the mortgage is 1250 at 2.5% interest. The answer to your question is not taxes it's interest rates and property values. Taxes are 300-400 dollars every month but my mortgages are still crazy low for what I'm getting compared to people I know in other places. And don't forget, a LOT of people with homes now either got in at the point that I did (2020, 2021) or they refinanced during this period. Sure less of my mortgage goes towards my principal but it's also an incredibly affordable mortgage. I know people paying my mortgage for a two bedroom apartment. Also we pay a lot in taxes but we get it back in other ways a lot of other states with "lower taxes" don't.
DINK, but with kids on the way. Between the two of us we work anywhere between 110-130hrs/week in a high earning field.
DINKs for now, Fiancé is a Project Manager at a local construction company and I’m an internal auditor.
1/3 of that is finished basement typically, on a 40x25 frame @1000sqft/floor. I hate how they count a finished basement towards this. they also count the thickness of outside walls, so if i add exterior insulation it changes my footprint. another pet peeve- insulating makes tax go up due to this too
1st world problems.....
Heavy equipment sales
Math
My husband is in sales management. He works from home for a company that's based out of state - that's pretty common. Our neighborhood is large new build homes, and I'd say it's mostly young families. Most are dual income - there are a lot of white collar folks and business owners, but I also see a lot of nurses and successful trade workers. Between the tech and medical fields, remote work, and the ton of small-mid sized businesses based here, there are actually a lot of paths to making good money in Rochester! That said, never underestimate the amount of debt that some people are willing to go into to afford what looks impressive. We didn't feel comfortable going anywhere near what the bank approved us for (and definitely don't own the biggest home in our neighborhood lol), but I wouldn't be surprised if there are a lot of "house poor" people in these homes you're looking at.
It's easy to complain about the high property tax rates in Rochester and NY in general, but this map shows clearly that [we get what we pay for](https://en.m.wikipedia.org/wiki/File:Funding_of_K-12_schools_map.png). And for those that like to point out that Victor and greater ontario county have lower taxes... they also get what they pay for. That one light green dot just south of Roc, thats Victor.
That doesn’t show we get what we pay for at all. It just shows what we pay for. Rochester city schools are some of the lowest performing in the country and some of the most well funded.
Do You have information about school funding?
The schools are well funded but a lot of the families attending them are not. It's hard to pay attention in school when you're not getting enough to eat
I agree the problem is very complex. Teachers should be able to teach and not have to be social workers. There’s other things missing outside of the schools.