Saturday, September 8, 2007

Movin' out

Imagine, just for a moment, living in a 500 sq ft condo just like this one in Boston. It is a a third floor atttic conversion in an unimpressive single family home, in an unremarkable neighborhood. What exactly would be your quality of life?

The center of the room is the only place that you can stand up straight. The kitchen is tiny. The bathroom is so narrow that you won't be able to wash under your arms. You would have nowhere to store your belongings. Moreover, you would be too embarrassed to invite anyone home. Ultimately, the only thing this condo offers is a life of misery.

If you are asking yourself whether you can afford this $145k condo, then you are asking yourself the wrong question. Instead, you should be asking whether it is time to move out of Boston and find a city where you can afford to live. There are plenty of cities in the mid-west where $144k would buy a respectable family home. Salaries may be higher in Boston than the mid-west, but the difference isn't that great. Contrary to what realtors say, it is not about "location, location location". Rather, it is about quality of life. Currently, many bubble cities just can't offer a decent affordable lifestyle for many Americans. Either the market corrects or it is time to move.

Thanks to Sarah for this recommendation. The listing can be found here.

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