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I'm familiar with the fact that housing prices are very high across the country.
Currently, when I browse Zillow around Burlington I'm seeing smaller homes (1250 sq.ft.) going for 300k-450k depending on area and quality.
Since this area doesn't have many large employers, and isn't something like a "tech hub" it seems like the local economy wouldn't have enough high paying jobs to support these mortgage/tax costs for people who are moving there.
So I guess my question is who's buying these currently? Is it largely remote workers who are paid a high salary because their employer is headquartered in a high COL area? Or is it mainly individuals who are already living in a high COL area and are leveraging tremendous equity from, say their home in Boulder that they bought in 2015 (for example).
Anyways, just really curious how this is all working out. Thanks.
I moved to the Northeast Kingdom from NJ about 3 years ago, having spent a good part of my life in VT. I got a remote job (building and site design in a tech adjacent industry, for what it's worth), so I could finally leave the metro NYC area. And I could save a lot of wear and tear on my car. Literally slept in my car at either Smuggs or Jay every weekend in the winter for 2 years leading up to moving.
I'm renting, and at the very upper end of what I can afford. I have an overpriced data hotspot for wifi, since there's no fiber where I live. I travel often for work, and BTV is a 90 minute drive, plus the flight options out of there suck.
But that's all more than worth it. I found an apartment I can just swing without roommates. My long distance bf can live with me in the winter finally (previous living arrangements didn't allow this). I have the best landlords ever. I have a community I love, contribute to, and can rely on. I'm 30 minutes from the best skiing, hiking, kayaking or breweries I could ask for. It's peaceful and I'm happy.
I'm an extroverted introvert, so the isolation is a plus. I vibe with the New England sarcasm. The pace of life and the general feel of society in the NEK is way more comfortable for me than NJ ever was.
Ultimately I really hope to be able to afford a house here one day. This is the first place I've lived that truly feels like home.
No? More like, someone who enjoys socializing in small amounts but needs alone time to recharge.
From what I can see, consolidated has fiber on my street now, for the first time. Still up to my landlords if they want to allow them to pull to the house.
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I made a choice when I moved here. I'd prefer to pay 90 a month for 100GB and not line Elon's pockets/contribute to space pollution. I'm a household of one 75% of the year, and I don't stream anything so don't need more than what I have.