PRC - Utility In Ma...
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PRC - Utility In Making Other Life Decisions


NC Cpl
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Joined: 11 months ago
Posts: 98
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Wondering if anyone else is using PRC to help with other finance-related decisions (all essentially using final net worth as the determining factor) like how moving to one state will impact final net worth compared to other states, or the impact of paying mortgage points (or not)? How different fees (HOA, homeowner membership, etc.) can impact final net worth? Seems like there would be some valid use to comparing scenarios in this manner to see how large the financial impact might be over time.

Example: Recently ran the numbers to buy a home in an upscale, gated community with a one-time $30k "buy in" fee + monthly HOA dues. That in itself isn't that unique for retirees, or necessarily seem that costly when viewed over the short term, but when I compared that scenario with an identical scenario (20 year projection) but WITHOUT these two costs (again, all other variables identical), our final net worth was about +$300k. So am I correct to conclude that this would reasonably reflect the "actual total cost" to us to live in this particular development over 20 years? If so, this becomes very helpful in seeing the real "cost of spent money" over time, which could change your actions.

This topic was modified 1 month ago by NC Cpl