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<ul class="summary-list"><li><keyword id="20348245" type="General" weightage="20" keywordseo="zach" source="keywords">Zach</keyword> and Annie moved their family from <keyword id="19916114" type="General" weightage="20" keywordseo="california" source="keywords">California</keyword> to <keyword id="20109210" type="General" weightage="20" keywordseo="scotland" source="keywords">Scotland</keyword> for a simpler life.</li><li>The couple, who have three young kids, loved California but felt that it was too fast-paced.</li></ul>Zach, 38, and Annie, 37, packed up their lives and moved their family from the US to <a target="_blank" class="" href="https://www.businessinsider.com/tiny-home-renovation-old-abandoned-cottage-scotland-before-after-photos-2022-7">Scotland</a> earlier this year. They had been living in <a target="_blank" class="" href="https://www.businessinsider.com/people-stunned-price-of-palo-alto-california-home-for-sale-2024-5">California</a>, where Zach — who was originally from Scotland — was working with the highway patrol. Because of his job, the couple and their three kids had to move frequently throughout the state. Although they had a chance to live in places such as Sonoma County and around <keyword id="19915272" type="General" weightage="20" keywordseo="silicon-valley" source="keywords">Silicon Valley</keyword>, life always felt "<a target="_blank" class="" href="https://www.businessinsider.com/reasons-i-left-silicon-valley-california-after-two-years-2023-12">extremely fast-paced</a>," Annie, who works in healthcare, told Business Insider. "Life just seemed to be work — or school for the kids — a little break and then repeat. It seemed hard to fit in a lot of quality family time or fun little adventures," Zach told BI. <div type="image" title="A man and a woman posing for a selfie." height="1600" width="1185" msid="113889827" hostid="261"></div>The couple, whose children — two sons and one daughter — are below 10, asked to be identified by only their first names to protect their privacy. They wanted to live a simpler life with their kids, away from the rat race and the pressure to constantly <a target="_blank" class="" href="https://www.businessinsider.com/millionaire-investing-saving-spending-financial-independence-retire-early-fire-2024-9">keep up with the Joneses.</a> Annie had always wanted to live in Scotland, and late last year — after a decade of living in California — it finally seemed like the right time for their family to seriously consider taking the plunge. <h2>Preparing for the move</h2>In a way, the move felt like it had been 10 years in the making. "Ever since I met Zach, I've wanted to live in Scotland. It's just been me slowly wearing him down and trying to get him to come back," Annie said. The timing for their move was right, in part because their kids were still young. "We knew if we were ever going to make the move, we had to move before our kids established true friend groups and got too far in their academics to where that transition would be difficult," Annie said. The couple knew they wanted to be in the East Lothian area just outside Edinburgh because it was near where Zach grew up. It was also a place that their kids were familiar with. "We made an effort pretty much every year, apart from during COVID-19, to travel back to Scotland," Zach said. Familiarity aside, their kids were also excited by the move because they'd made plenty of good memories on their past visits. <div type="image" title="A wooden front door of a cottage." height="4284" width="5712" msid="113889818" hostid="261"></div>"They love <a target="_blank" class="" href="https://www.businessinsider.com/how-i-bought-my-first-house-22-2024-3">Scotland</a> because they've been here so many times, and every time they come over they think it's magic because their grandparents spoil them and take them to all of the best places," Annie said. "So when we said that we were moving to Scotland, they were all for it for the most part." While Zach and their kids had UK passports, Annie had to apply for a spousal visa, which she said took about two months to be approved. Then came the exciting part: looking for a <keyword id="7173" type="General" weightage="20" keywordseo="house" source="Orion">house</keyword>. Thankfully, the process wasn't too hard, even though they were still living in California at the time. <div type="image" title="Zach and Annie moved from California to Scotland with their three young kids." height="4284" width="5712" msid="113889826" hostid="261"></div>"Annie's hobby is looking at houses all around the world, she's constantly browsing for fun," Zach said. When the listing for a cozy three-bedroom house came up, the couple jumped on the opportunity. "When it popped up, I thought it was ridiculously underpriced," Annie said. "It was actually the only house that Zach's parents went and toured for us." At Zach's parents' encouragement, the couple decided to put in an offer for the house and ended up getting it. <div type="image" title="A cabinet in the corner of a living room." height="5712" width="4284" msid="113889825" hostid="261"></div>They preferred to keep the exact amount private but said they paid about 15% more than the original asking price of about £200,000, or about $265,000. "Budget-wise, our goal was always to try to not have this huge mortgage hanging over our head. It was something we felt we had in the States, especially in California, where house prices are crazy," Zach said. <h2>Getting settled into their home</h2>Zack and Annie are part of a wave of California residents who are choosing to leave the state. Between 2021 and 2022, 817,669 people left California — making it the <a target="_blank" class="" href="https://www.businessinsider.com/top-states-americans-are-moving-to-florida-texas-california-2023-10">US state with the most people moving out</a>. Several former residents that BI previously spoke to said rising crime rates and the high cost of living were factors in their decision to <a target="_blank" class="" href="https://www.businessinsider.com/reasons-why-californians-are-leaving-the-state">leave California</a>. <div type="image" title="The dining area and kitchen." height="4284" width="5712" msid="113889828" hostid="261"></div>Zack and Annie closed on the house in February, but only arrived in Scotland with their kids in May. Since the couple bought their house without viewing it in person, they were a little concerned that it would feel too small for their family of five. "We just moved from a pretty large four-bedroom house that's at least 2,000 square feet in the States to about 950 square feet in Scotland," Annie said. "That's a big change. But when we walked in, the rooms were all really nicely sized, and they just felt right." They spent about two months renovating the place while living with Zach's parents. It wasn't until late July that they finally moved into their new house. <div type="image" title="The dining area." height="1562" width="1179" msid="113889823" hostid="261"></div>"The kids never saw the house unfinished. The moment they stepped in the door, their room was decorated and they had their beds set up with all their toys on it," Annie said. "They walk in and they think everything's beautiful when we actually shed blood, sweat, and tears trying to make it a home, but it was definitely worth it." It's also really easy for the family to get around their neighborhood on foot. The main street of their town — where there are cafés, shops, and a grocery store — is only a 10-minute walk away, Annie said. "We have trails just outside our doorstep where the kids can go explore. There are beaches not too far away," she said, adding that there's no need for a car unless they're driving the kids to their grandparents' place. <div type="image" title="The bathroom." height="4032" width="3024" msid="113889821" hostid="261"></div>"It's a process to get every child loaded up in a car, so we wanted to reduce that as much as possible. And now we just walk to everything we do, and I feel we're healthier for it," she said. If they're ever feeling up for a small adventure, they can easily drive 20 minutes to the various small towns around them, Zach said. "Whereas in the States, if we wanted to go do something different or outside our little area, it's probably a 45-minute drive and then it becomes more of a day trip," he said. <h2>A simple life</h2>The couple says that life in Scotland is simpler — which is exactly what they were looking for. Even though they've only been here for a few months, the couple says they feel more content with life in Scotland — so much so that they even started a <a target="_blank" class="" href="https://www.youtube.com/@SimpleScottishLiving">YouTube channel</a> documenting their adventures in the country. <div type="image" title="A man and a woman gaze lovingly at each other in front of a stone building." height="632" width="843" msid="113889829" hostid="261"></div>Although the couple enjoyed living in the US, life in Scotland reminded them of their own childhoods. "Seeing what the children could get by being over here was sort of nostalgic. It brought us back to the '90s childhood we had," Annie said. "You go out and play until the streetlights turn on, and we just felt this sense of peace and safety in Scotland." Have you recently built or renovated your dream home? If you've got a story to share, get in touch with me at <a target="_blank" href="mailto:agoh@businessinsider.com">agoh@businessinsider.com</a>. Correction: An earlier version of this story misstated the converted dollar amount of the home's asking price. It was about $265,000, not $340,000.

A California family of 5 found a house in Scotland listed for under $270,000. The catch: It was half the size of their old place.

<ul class="summary-list"><li>Half of <keyword id="23335388" type="General" weightage="20" keywordseo="US-renters" source="keywords">US renters</keyword> spend over 30% of their income on housing, <keyword id="21621325" type="General" weightage="20" keywordseo="Census-data" source="keywords">Census data</keyword> shows.</li><li>Skyrocketing home prices and rents, driven by supply shortages and high interest rates, are to blame.</li></ul>For decades, financial advisors and the federal government have recommended that Americans spend no more than 30% of their gross income on housing. But as home prices and rents have skyrocketed in recent years, that so-called <keyword id="23335390" type="General" weightage="20" keywordseo="30-rule" source="keywords">30% rule</keyword> is increasingly challenging to follow. And for a whopping half of US renters, it's become impossible. Almost half — 49.7% — of American renter households spent more than 30% of their income on <keyword id="21020775" type="General" weightage="100" keywordseo="housing-costs" source="keywords">housing costs</keyword>, according to data released by the <keyword id="19899587" type="General" weightage="20" keywordseo="US-Census-Bureau" source="keywords" meta.keywordsubtype="org" meta.entityname="US Census Bureau" meta.hostid="261" meta.entityid="US Census Bureau">US Census Bureau</keyword> from its <a target="_blank" class="" href="https://www.census.gov/newsroom/press-releases/2024/renter-households-cost-burdened-race.html">2023 American Community Survey</a>. That's unchanged from 2022, when the median ratio of income-to-housing costs for renters was also 31%. Among racial and ethnic groups, Black renters were the most frequently <keyword id="23335389" type="General" weightage="20" keywordseo="cost-burdened" source="keywords">cost-burdened</keyword>, with 56% spending more than 30% of their income on rent, according to the census data. Hispanic renters were the second-most affected, with 53% cost-burdened, while 47% of white renters were cost-burdened. Renters are currently struggling more than homeowners. Rents rose <a target="_blank" class="" href="https://www.census.gov/library/stories/2024/09/acs-rent-burden.html">faster than home prices</a> for the first time in a decade, the Census found. Rents rose by 3.8% between 2022 and 2023, while home prices rose by 1.8%. And a greater share of tenants are <a target="_blank" class="" href="https://nlihc.org/gap/about">low-income or very low-income</a> and have significantly less wealth than homeowners. But <a href="https://www.businessinsider.com/housing-crisis-homeowners-struggling-mortgage-interest-rates-insurance-home-equity-2024-6" target="_blank">homeowners are also struggling</a>. Mortgage interest rates recently hit a two-decade high, and rising insurance premiums, growing home-repair costs, and property taxes add to the burden. Last year, first-time <a href="https://www.jpmorgan.com/insights/real-estate/housing-market/the-american-homeowners-dream-vs-recent-reality#:~:text=become%20a%20reality.-,In%20the%20third%20quarter%20of%202023%2C%20the%20first%2Dtime%20homebuyer,the%20problem%20has%20become%20exacerbated." target="_blank">homeownership affordability</a> hit its lowest level since the 1980s. The number of cost-burdened homeowners — those who spent more than 30% of their income on housing and utilities — rose by about three million people between 2019 and 2022, according to <a target="_blank" class="" href="https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_The_State_of_the_Nations_Housing_2024.pdf">a recent report</a> from the <keyword id="19898366" type="General" weightage="20" keywordseo="harvard" source="keywords">Harvard</keyword> Joint Center for Housing Studies on the state of US housing. Most of this increase was among those who make less than $30,000 a year. A full 30% of Black and 28% of Hispanic homeowners are cost-burdened, compared to 21% of white homeowners, the Harvard report found. While the Federal Reserve finally announced its first <a href="https://www.businessinsider.com/federal-reserve-interest-rate-cuts-mortgage-investment-credit-savings-2024-9" target="_blank">interest-rate cut</a> in four years, the move probably <a href="https://www.businessinsider.com/buying-home-not-easier-interest-rate-cuts-prices-rent-crisis-2024-8" target="_blank">won't bring housing costs down</a> by much. The US is suffering from a severe shortage of homes — the only way to solve it is to build many more units of housing. And that takes time. Are you spending more than 30% of your income on housing costs? Reach out to this reporter to share your story at erelman@businessinsider.com. Correction: September 25, 2024 — An earlier version of this story misstated a recent move by the Federal Reserve. It announced an interest-rate cut, not a hike.

Half of renters live somewhere they can't afford

<ul class="summary-list"><li><keyword id="23254035" type="General" weightage="20" keywordseo="home-improvement-retailers" source="keywords">Home improvement retailers</keyword> are among the first to see a lift from the Fed's rate cut.</li><li>Share prices for <keyword id="20320193" type="General" weightage="20" keywordseo="Home-Depot" source="keywords" meta.keywordsubtype="org" meta.entityname="Home Depot" meta.hostid="261" meta.entityid="Home Depot">Home Depot</keyword> and <keyword id="23254034" type="General" weightage="20" keywordseo="Lowes" source="keywords" meta.keywordsubtype="org" meta.entityname="Lowe's" meta.hostid="261" meta.entityid="Lowe's">Lowe's</keyword> are up, and <a target="_blank" href="https://www.businessinsider.com/fed-interest-rates-cut-jerome-powell-labor-market-mortgage-pantheon-2024-9">spending on projects is expected to follow</a>.</li></ul>The US Federal Reserve's decision Wednesday to <a target="_blank" class="" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">cut rates by half a percentage point</a> has created a flurry of immediate reactions, but the real effects of the policy are likely to take several months to bear out. Still, some areas of the economy are already seeing a lift in response to the news — and the fact that the Fed went with the larger of the two most likely options under consideration. <a target="_blank" href="https://www.businessinsider.com/comparing-lowes-vs-home-depot-2023-12">Home improvement retailers,</a> in particular, are among the companies who were primed to come out of the gate strong with a rate cut, and, true to form, shares for Home Depot and Lowe's were up as of Thursday's market close. "Home-related companies should soon see the beginnings of fundamental recovery exiting this year," Mizuho analyst David Bellinger told Business Insider. "Aside from any initial noise in the market, Home Depot and Lowe's should keep grinding higher as all this comes together." And while a rising <keyword id="19998639" type="General" weightage="20" keywordseo="stock-price" source="keywords">stock price</keyword> carries its own benefits for a company, the uptick is a signal of a much more important change still to come: sales. Executives for both Home Depot and Lowe's have characterized their businesses as being constrained by low housing turnover and high borrowing costs, both of which are results of the Fed's tight interest rate policy. Home Depot CFO Richard McPhail described his company's core customer as having "<a target="_blank" href="https://www.businessinsider.com/home-depot-earnings-americans-in-deferral-mindset-consumer-spending-2024-8">a deferral mindset</a>" in spite of being in a generally healthy financial position. In short, most <a target="_blank" href="https://www.businessinsider.com/americans-doing-less-diy-worrying-sign-economy-lowes-earnings-2024-8">big-ticket spending on home improvement</a> comes from one of two places: people buying and selling homes and homeowners renovating existing homes with borrowed money. Unless they have to fix something urgently, a lot of folks have decided they're better off waiting to upgrade. Fed Chairman Jerome Powell talked about the impact on the <keyword id="20759748" type="General" weightage="20" keywordseo="housing-market" source="keywords">housing market</keyword> in his remarks following Wednesday's announcement. "The housing market is in part frozen because of lock-in with low rates. People don't want to sell their home," he said. "As rates come down, people will start to move more, and that's probably beginning to happen already." What's more, Powell signaled in his speech that further cuts are likely if the data support them, which can encourage some of those sitting on the sidelines to go ahead with a new mortgage or credit line with the expectation that they can simply <a target="_blank" href="https://www.businessinsider.com/personal-finance/personal-loans/how-to-refinance-personal-loan">refinance</a> in a few months when rates come down further. Additionally, Home Depot and Lowe's have taken great care to manage investor expectations through the <a target="_blank" href="https://www.businessinsider.com/lowes-dicks-macys-sound-alarm-us-shoppers-spending-2023-8">slumping sales and slimmer profits</a> over the past year. In particular, both companies <a target="_blank" class="c-link" href="https://www.businessinsider.com/home-depot-1-billion-wage-boost-improved-worker-safety-satisfaction-2023-5">continued to invest in their stores</a> with the expectation that pent-up demand would eventually be unlocked. (Truist Securities analyst Scot Ciccarelli has referred several times to a "coiled spring" for the retailers.) Max Rakhlenko, a TD Securities analyst, said in a note on Wednesday that Lowe's management was expecting a "phased recovery" in which homeowners start with smaller projects before getting more comfortable with larger ones that require tapping into their house's equity. "We're aggressively working in this downturn," Lowe's CEO Marvin Ellison said during his earnings call last month, adding, "Whenever the macro inflection occurs, we just want to be ready to take advantage of it." It appears Ellison may not have to wait much longer. Correction: September 20, 2024 — An earlier version of this story misstated the day a TD Securities analyst sent out his note on Lowe's. It was Wednesday, not Thursday.

Home Depot and Lowe's are already seeing the first of many likely benefits from the Fed's rate cut

<ul class="summary-list"><li>While Democrats touted job growth under Biden, Trump won over voters facing high prices.</li><li>A BI analysis found real wages declined in states that had the biggest swings toward Trump.</li></ul>High prices dominated voters' minds this election cycle — and they likely played a key role in handing <a target="_blank" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">President-elect Donald Trump</a> his victory.On the campaign trail, Trump clashed with President Joe Biden and Vice President Kamala Harris over their <a target="_blank" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5">handling of the economy</a>.<a target="_blank" class="" href="https://fred.stlouisfed.org/series/UNRATE">Unemployment</a> sharply fell during the first year of Biden's term and has remained low. Biden <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/11/01/statement-from-president-joe-biden-on-the-october-2024-jobs-report/">oversaw the creation of 16 million new jobs</a> during his term as of October, and his administration frequently touted that growth.But <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/what-is-inflation">inflation</a> also spiked during the early years of Biden's presidency, before its pace gradually slowed, creeping toward the Federal Reserve's 2% target.Trump told voters he would provide relief to their wallets across the board, from groceries to housing."I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low, low crime and surging incomes for citizens of every race, religion, color, and creed," Trump <a target="_blank" class="" href="https://www.c-span.org/video/?538141-1/president-trump-remarks-economic-club-york">said</a> during remarks in September. "My plan will rapidly defeat inflation, quickly bring down prices, and reignite explosive economic growth."That promise resonated: Real, or inflation-adjusted, wage growth — or lack thereof — across the country shows a possible reason why.Many states where Trump most improved his margins saw large declines in real wages under Biden. Increases in wages were more than offset by higher living costs in these states.Counties with higher costs of living also voted for Trump more than they did in 2020.<h2 id="592a8bc6-249e-4af5-904c-d806f3ba6a2f">How Trump won on prices</h2>Business Insider looked at how average hourly earnings for private employees have changed in each state from January 2021, when Biden took office, to this past September. BI adjusted 2021 amounts using <a target="_blank" class="" href="https://www.bls.gov/cpi/regional-resources.htm">Census-division-level inflation</a> to understand how much real wages have changed across the US. Rhode Island had the highest real wage growth, just one of around a dozen states that saw an increase.Using the <a target="_blank" class="" href="https://www.nytimes.com/interactive/2020/11/03/us/elections/results-president.html">2020</a> and <a target="_blank" class="" href="https://www.nytimes.com/interactive/2024/11/05/us/elections/results-president.html">2024</a> share of Trump votes by state reported by The New York Times, BI found that states with bigger real wage drops tended to have bigger shifts to Trump than other states.Some of the biggest swings came in heavily blue, expensive states. New York, which saw an 8.3% real wage decline and which has a high cost of living, also had a 6.5 percentage point increase in Trump's vote share from 2020 to 2024. Maryland, which saw an 11.2% real wage decline, swung toward Trump in 2024 by 5 percentage points.The nation's capital was an outlier. Real wages massively fell in <a target="_blank" class="" href="https://www.bea.gov/news/2023/real-personal-consumption-expenditures-state-and-real-personal-income-state-and">costly</a> Washington, DC; even before adjusting for inflation wages were roughly flat. While Trump did see a small uptick in the share of DC votes for him in 2024, it was one of the lowest percentage point increases based on BI's analysis.The cost of living and unemployment levels also factored into voters' feelings as they headed to the polls. Jed Kolko, an economist who served in the Biden administration, <a target="_blank" href="https://www.slowboring.com/p/breaking-down-the-election-results">wrote</a> in Matthew Yglesias' "Slow Boring" column that higher unemployment levels in US counties over the past year matched a swing in county votes toward Trump.The same goes with the cost of living: "Counties with a higher cost of living swung more toward Trump in 2024 relative to 2020. Expensive counties tend to be blue places like big coastal cities; Harris won most of these pricey counties, but by a smaller margin than Biden did in 2020, when controlling for demographics, education, and density," Kolko wrote.Kolko also found that local job growth did not have a significant relationship to voting patterns, while local federal spending from Biden's signature infrastructure and industrial investment programs did not appear to impact county election results either.Some experts have said that Trump's tariff policies would <a target="_blank" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">stoke inflation and raise consumer prices</a>. Trump has instead argued that his policies would help with costs, promising voters they will see improvements once he takes office."Prices will come down," Trump <a target="_blank" href="https://www.cnn.com/2024/08/20/business/trump-inflation-prices-deflation/index.html">said</a> during an August speech. "You just watch: They'll come down, and they'll come down fast, not only with insurance, with everything."

Democrats wished the election was about jobs. Trump's win showed it was about prices.

The unsung warriors of 'The Price Is Right'

<ul class="summary-list"><li>Taylor and Tatum Barnes left New York City for a more affordable, permanent home in Vermont.</li><li>The couple bought a one-bedroom fixer-upper with 2.6 acres of land in Vermont for $160,000.</li></ul>After four years of living in their <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-nyc-affordable-housing-lottery-rent-apartment-tour-brooklyn-2024-8">studio apartment in Brooklyn</a>, <a target="_blank" class="" href="https://www.instagram.com/fulljoyfarm/">Taylor and Tatum Barnes</a> decided it was time to leave New York City.They were looking for an affordable place they could call their own: A house where they could put down more permanent roots, that ideally came with one or more acres of land where they could garden and start <a target="_blank" class="" href="https://www.businessinsider.com/couple-diy-abandoned-farm-portugal-off-grid-youtube-creator-family-2023-8">homesteading</a> projects.<div type="image" title="The couple sitting on the steps of their home." height="2313" width="3084" msid="113177238" hostid="261" sizebytes="246956"></div>It was around the same time as the pandemic, so the couple decided to take advantage of their <a target="_blank" class="" href="https://www.businessinsider.com/next-big-battle-over-work-from-home-remote-employees-salaries-pay-cut">remote working</a> arrangements to explore different towns."Because our work was remote — we were both working in schools at the time, which shut down — we were able to move around a bit on this sort of spring break trip," Taylor, 34, told Business Insider.During their road trip, the couple stumbled onto the Upper Valley area in Vermont and fell in love with the location.<div type="image" title="A woman standing in an NYC apartment." height="576" width="768" msid="113177243" hostid="261" sizebytes="51582"></div>With that, they decided to take the leap and moved out of NYC into a 350-square-foot studio apartment in Hartford, Vermont, near Dartmouth College, which they found online."It was probably slated for one person related to the college. But those lists of apartments, that's public access, so it doesn't have to be a Dartmouth student who lives there," Tatum, 30, told BI.<div type="image" title="A small table with two chairs by a window." height="2268" width="3024" msid="113177241" hostid="261" sizebytes="505404"></div>It was a temporary arrangement — and a way to have an official address in Vermont — while they continued looking for proper housing in the area.<h2 id="166f404f-3cde-46fc-ae2f-8d9a4d73dd18">A fixer-upper within their budget</h2>When they chanced upon the listing for a one-bedroom, one-bathroom <a target="_blank" class="" href="https://www.businessinsider.com/diy-old-home-renovation-award-millennial-couple-before-after-photos-2023-3">fixer-upper</a> in the small town of Pomfret, it was love at first sight."I thought it would be perfect for us," Taylor, who is an artist, said. "At the time, it wasn't a house, so I didn't see it set up in a residential way. It was not lived in for at least, I want to say, about a decade or more."<div type="image" title="The exterior of the house." height="2268" width="3024" msid="113177239" hostid="261" sizebytes="841888"></div>The 650-square-foot cottage was being used as an office for a local business, but Taylor saw its potential despite that."I saw the beauty of the natural lighting, there was a lot of sunlight. There are a lot of neat details with the wood and the cabinets which I thought were really cute. And then, mostly, the outdoor space was what we wanted," she said.<div type="image" title="The living room area and sofa." height="963" width="1284" msid="113177244" hostid="261" sizebytes="186642"></div>The charming house came with 2.6 acres of land. It was initially listed for $225,000, but the price had been steadily decreasing."Not very popular on the market as far as a one-bedroom house, but we wanted a small house and it was perfect for when the price was reduced," Taylor said.The couple bought the property for $160,000 in March 2021. It took them about three to four months to close on the house, and moving in felt good.<div type="image" title="A man standing in front of a laptop in the kitchen." height="2268" width="3024" msid="113177242" hostid="261" sizebytes="202988"></div>"We packed up and moved a dozen or more times during the summer of 2020, so to be able to do that for the last time and unpack the boxes — knowing that we had no intentions to repack them — was a great relief," Tatum, who works in parks and recreation, said.<h2 id="ad977788-cd9b-4c9a-a8ee-3d8b01ec23b8">Turning the house into a home</h2>Although Tatum did some of the renovation work himself, the couple also hired a carpenter to assist them with some projects.The first thing the couple did was fix up the sliding door that leads to their porch. The door was broken, and the wood underneath was rotting.<div type="image" title="Sliding doors lead to the outside." height="849" width="1132" msid="113177245" hostid="261" sizebytes="112494"></div>"With winter fast approaching, we absolutely had to take care of that in the first months of us getting here," Tatum said. At that point, the couple was also expecting their first child, and that served as another form of motivation to improve things around the house.While they're still on the grid, the couple also invested in solar panels for their home."I think it's a good investment since we'll save a lot of money over time. And I think it's an indication that we intend to be here for the long run," Tatum said.In an effort to be more sustainable, most of the items in the home are either gifted, thrifted, or free.<div type="image" title="A woman standing in the kitchen." height="2268" width="3024" msid="113177248" hostid="261" sizebytes="304360"></div>"I encourage people always to use what's there, whether it's salvage or free materials, instead of going out and trying to buy a bunch of stuff to set your home and garden up," Taylor said.The couple's home is located on the main road of their town, which consists of about 1,000 people spread out across miles of mostly farmland. They're 20 minutes from the nearest hospital and about an hour and a half from the city of Burlington.While they have neighbors right across the street, the population density in the town is low."So our neighbors are right across the street from us. For context, they have about 75 acres, and their neighbors have 500. And we live on about two and a half acres here," Tatum said.<div type="image" title="The bedroom." height="1594" width="1284" msid="113177236" hostid="261" sizebytes="181652"></div>What the couple loves about their home is the amount of privacy it affords them, without being too secluded."Maybe they could hear through the walls in our Brooklyn apartment, but if we needed help and we were to yell loudly here, our neighbors would hear us," Tatum added.The couple also manages a <a target="_blank" class="" href="https://www.hipcamp.com/en-US/land/vermont-brookside-camping-full-joy-farm-pw1hdp56?adults=1&amp;children=0&amp;srid=38340018-9c35-4565-98cf-787ac858036f">small campsite</a> on their land where people can come and enjoy the outdoors. There's a firepit where guests can start a campfire, and a composting toilet is available. Rates start from $24 a night for a maximum of four guests.While the campsite is open all year round, Taylor says most people come between April and November.<div type="image" title="The couple manages a campsite on their land." height="2268" width="3024" msid="113177233" hostid="261" sizebytes="334018"></div><h2 id="0e21d658-9042-46b4-a372-b2af4e277af9">City versus small-town living</h2><a target="_blank" class="" href="https://www.businessinsider.com/surprising-things-about-vermont-after-moving-from-south-photos-2022-6">Life in Vermont</a> is quite different from in NYC.For instance, they drive now, whereas they didn't before."In New York City, I did not drive. I walked to work, I biked to work. If I wanted to visit a friend 90 minutes away, that meant I was on a train and we traveled 10 miles. And here, I drive 10 miles to work every day," Tatum said.The way they interact with their community is also very different."In New York City, we're not waving at everyone we pass by because if you did that, you'd go insane. It's too many people, and not everyone is your friend there," Tatum said. "But here in Vermont, everyone waves at you, and you learn to wave back. It's very friendly and very welcoming."<div type="image" title="The play area." height="1309" width="1046" msid="113177246" hostid="261" sizebytes="186990"></div>While it was tough to make friends in Vermont at first — since it was the pandemic — it became easier to get to know new people, especially after they had their son."We met other parents and families through playgroups and things like that, and got to know our neighbors more," Taylor said.The slower pace of life in Vermont has been refreshing compared to the hustle and bustle of the city, Taylor, who was originally from Pennsylvania, added."I lived in New York City for about four years, and it's something that I knew I wouldn't be able to sustain long-term in terms of the sensory overwhelm and the pace of life," she said.<div type="image" title="Back view of a woman and her son sitting along the banks of a brook." height="2268" width="3024" msid="113177247" hostid="261" sizebytes="751548"></div>That said, with a two-year-old toddler in tow, the young parents are "still exhausted," Tatum, who is originally from NYC, said."The pace here is slower, but that doesn't mean that we're not running around, trying to get him from play date to day care and back to work. I just can't imagine how we'd pull it off in New York," he added.<h2 id="e063c710-0e4b-4b7a-b862-5228315ab566">Getting used to life in the country</h2>The Barnes family isn't alone in their journey.More and more Americans are being <a target="_blank" class="" href="https://www.businessinsider.com/millennials-priced-out-of-cities-into-suburbs-housing-crisis-2024-1">priced out of the city</a>. A single person in NYC would have to make about $140,000 to <a target="_blank" class="" href="https://www.businessinsider.com/single-family-city-living-costs-income-nyc-la-inflation-rates-2024-3">live comfortably</a>, and this amount jumps to $318,000 for a family of four consisting of two adults and two children.It comes as no surprise that many <a target="_blank" class="" href="https://www.businessinsider.com/cost-of-living-nyc-millionaires-wealth-tax-2023-12">lower-earning New Yorkers</a> and even <a target="_blank" class="" href="https://www.businessinsider.com/millennials-young-kids-families-fleeing-big-cities-urban-doom-loop-2024-7">young families</a> are choosing to move to the suburbs or <a target="_blank" href="https://www.businessinsider.com/americans-moving-abroad-cost-of-living-too-expensive-debt-retirement-2024-4">leave the country</a> entirely in order to enjoy a lower cost of living. A December 2023 report from the <a target="_blank" class="" href="https://fiscalpolicy.org/wp-content/uploads/2023/12/FPI-Who-is-Leaving-Full-Report-Dec-2023.pdf">Fiscal Policy Institute</a> found that 65,242 residents who earned between $32,000 and $65,000 left NYC in 2022, compared to 50,160 of those who earned over $172,000.However, the couple says that things aren't as straightforward as it seems."Compared to New York City, the mortgage is half that of what we paid for rent," Tatum said. "And while that may look good on paper, the reality is that being homeowners means that those savings go to the repairs and the projects that allow us to push up our comfort in the space and our enjoyment of the house."At the end of the day, everything balances out, he said."We're not suddenly wealthy because we are living in the country," he added.<div type="image" title="A young family sitting on the steps of their front porch" height="3000" width="4000" msid="113177234" hostid="261" sizebytes="541826"></div>The couple has some advice for those who want to move out of the city and into the country: Learn to let your guard down.Tatum said that living in cities can teach people to be alert and wary of others, but that's not how things necessarily work in the countryside."In small, rural towns, people often have good intentions — and you need to only reach out and ask for help to receive it," he added. "Your greatest threat is not your fellow man, but the raccoons that are going to find their way into your attic or kill your chickens or the bears that are going to get too curious around your bird feeder. It's a different set of threats, and it'll take a little bit of time for your brain to make the switch."Have you recently built or renovated your dream home? If you've got a story to share, get in touch with me at <a target="_blank" href="mailto:agoh@businessinsider.com">agoh@businessinsider.com</a>.

They got priced out of NYC, so they bought a $160,000 house in Vermont — but country life doesn't mean they're 'suddenly wealthy'

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Saturday edition! You're not alone if you've ever struggled to make a big decision. <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=jJeZDpQ5LFdu1VE4quxuwu6Q7P0VhndRCz&amp;_e=doU61fwFuDpa5cD8msoAaf7qbWHRaYx2QIdanbuDEFVo4Y5qvOPnMv7p5nl7teUh86J1MPHee4c4Cf9bEU8ltT7NweVAFxzrNQ45SdhlXNC4593R24JbBUmazNU6tRNZM7mCbX4VzZqlOxpND32Rlwb1WlPyiUGrVvIKsc1XqzDu1R2aF9kb7RltbXwFkzQ3c6Gx22cCX9GdtLkxzhjSpbA8XkIPOGMxmPRDQpQfPw04uGGgcbElKKIOboUks7ifkYcGkUorcVSJG8KALTARmtpp8365l2p283j4b7IxtiUXEgEtdkeymswzmoNk8JUNauIREW3KkriCXy5bNUaRv5UAOtEAyv6V-52vojZldM0YRQzaZHZ4dg-qStzjcShKhKceGbP6Fva3idFtFy-zsazcM-11E1IgZFJBkcTFW7A41ql_5vr6EdHDMG0mbzIU6JX8QTXSQHGpI8P3B0Tp0A%3D%3D">Shailene Woodley credits George Clooney</a> for accepting a multi-year contract after being "scared to say yes" to the "Divergent" series. The films went on to make $346 million at the box office.On the agenda:<ul><li>Their dreams of post-retirement RVing backfired. <a target="_blank" href="https://www.businessinsider.com/best-way-take-retirement-road-trips-owning-rv-cons-campervan-2024-9">They made a better plan</a>.</li><li>Jackson Hole's first adults-only hotel is <a target="_blank" href="https://www.businessinsider.com/hotel-yellowstone-jackson-hole-wyoming-adults-only-review-2024-9">a Western masterpiece</a>.</li><li>Millennials and Gen Zers are <a target="_blank" href="https://www.businessinsider.com/millennials-gen-z-tracking-parents-location-sharing-phones-helicopter-parenting-2024-9">helicopter parenting their own parents</a>.</li><li>How Austin fixed the <a target="_blank" href="https://www.businessinsider.com/austin-home-prices-falling-texas-mortgage-rates-housing-crisis-success-2024-9">soaring cost of home ownership</a>.</li></ul>But first: Ozempic is pricey.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" rel="" href="https://www.insider.com/app">here.</a><h3 id="2d2d81c1-e984-4ab1-b11e-26ada0d3da0b">This week's dispatch</h3><h2 id="c0df5ff0-0e14-4166-ab1b-1ab667d432bb">The high cost of weight-loss drugs</h2><div type="image" title="An Ozempic pen between interlocked hands" height="1000" width="2000" msid="113766329" hostid="261" sizebytes="596348"></div>Why are two popular weight-loss drugs — Wegovy and diabetes medication Ozempic — so expensive in the US? That's the question Novo Nordisk CEO Lars Fruergaard Jorgensen was grilled on this week by politicians in Washington, DC.Sen. Bernie Sanders pointed out during Wednesday's hearing that <a target="_blank" href="https://markets.businessinsider.com/news/stocks/novo-nordisk-ceo-faces-senate-questions-over-high-prices-of-ozempic-and-wegovy-in-us-1033798280">Ozempic costs</a> an average of $969 monthly in the US, compared to $59 in Germany. Wegovy averages $1,349 a month in the US, while in Germany, it's only $140.I spoke to Business Insider's senior health reporter Gabby Landsverk about what this means for American consumers.So, to ask the big question: Why are these medications so much more expensive in the US?That's business as usual. In other countries, government agencies negotiate with drug companies so consumers pay less.Here, we have middlemen — pharmacy benefit managers — who are supposed to do that negotiating. But the Federal Trade Commission, which has been conducting a years-long inquiry into this system, <a target="_blank" href="https://www.ftc.gov/news-events/news/press-releases/2024/09/ftc-sues-prescription-drug-middlemen-artificially-inflating-insulin-drug-prices">recently alleged</a> that these managers keep prices high to pocket the profits.How is the cost of these meds affecting how people actually use and access them?People who <a target="_blank" href="https://www.businessinsider.com/what-its-really-like-find-affordable-weight-loss-drugs-patient-2024-9">can't afford to pay $1,000 a month for meds</a> often end up trying to ration their supply or microdosing it. Patients also bargain-hunt for cheaper weight-loss drugs online, or try to use manufacturer-issued coupons.Telehealth companies, like Ro and Henry Meds, help patients wrangle insurance to try to cover brand-name drugs. They also offer <a target="_blank" href="https://www.businessinsider.com/buy-compounded-semaglutide-online-risks-wegovy-ozempic-2023-1">discounted versions</a> of the drugs that contain the same active ingredient as Ozempic and Wegovy. There is some regulation, though the products aren't FDA-approved so there's risk involved.The drug companies aren't happy about the competition. Eli Lilly, which makes Mounjaro and Zepbound, even launched its own <a target="_blank" href="https://www.businessinsider.com/eli-lilly-cut-price-zepbound-tirzepatide-weight-loss-drug-copycats-2024-8">half-price weight-loss product</a> and telehealth service to fight back against copycats.<h2 id="cc30e20d-acf4-4a4e-ad8f-02c3a04a9dbb">Rethinking RVing</h2><div type="image" title="RV" height="1022" width="1364" msid="113766323" hostid="261" sizebytes="415908"></div>Marie L. Mangin and her husband always dreamed of getting a camper van and going on epic road trips in retirement. But things went south after finally buying an RV, which they found to be too small and pricey to be sustainable.The couple pivoted — but never gave up on their road-trip dreams. They sold the camper and found a mode of transportation that works for them.<a target="_blank" href="https://www.businessinsider.com/best-way-take-retirement-road-trips-owning-rv-cons-campervan-2024-9">What they're doing instead</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/rv-mistakes-beginners-make-according-to-seasoned-van-lifers-2021-8">The biggest mistakes beginners make when traveling in an RV, according to RV lifers who have traveled to all 50 states</a></li></ul><h2 id="f3efdf5d-fcfc-4813-9e6c-8e3b9040c25d">Welcome to Hotel Yellowstone</h2><div type="image" title="Two chairs on a balcony face a view of mountains on a cloudy day" height="2560" width="3840" msid="113766325" hostid="261" sizebytes="641390"></div>Jackson, Wyoming's first adults-only hotel opened in August. BI's travel reporter spent a night at the boutique property, which quickly claimed the spot as one of her favorites.With a private balcony overlooking the Tetons and tasteful Western interior design, the room exudes luxury.<a target="_blank" href="https://www.businessinsider.com/hotel-yellowstone-jackson-hole-wyoming-adults-only-review-2024-9">See inside the new hotel</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/jackson-hole-airport-wyoming-national-park-review-2024-9">I flew into the only airport inside a US national park. It felt more like a luxury hotel lobby than a terminal</a>.</li></ul><h2 id="4e812ecf-a060-401e-9848-be206a63cddb">Find my parents</h2><div type="image" title="two hands each holding a phone with a security camera pointing at each other with a cutout of a map in the background" height="1000" width="2000" msid="113766321" hostid="261" sizebytes="173814"></div>Parents have long used location-tracking apps to keep tabs on their kids. Now, millennials and Gen Zers are turning the tech back onto their parents.Some adult children are using apps like Apple's Find My and Life360 to track their parents' whereabouts. For some families it can be a fun way to stay connected. But if things go awry, location sharing can easily turn into an invasion of privacy that family members come to resent.<a target="_blank" href="https://www.businessinsider.com/millennials-gen-z-tracking-parents-location-sharing-phones-helicopter-parenting-2024-9">Meet the helicopter kids</a>.<h2 id="483172dd-9e06-415f-8357-1bdb6f813f7b">A boom-bust to copy-paste</h2>Austin's real-estate market was on fire during the pandemic, but the boom went bust within a couple of years. Now, home prices are down compared to where they were a year ago.Still, the boom-bust cycle will be good for Austin in the long run. There might be short-term pain for those who bought at the peak, but the city gets one major benefit: More housing supply, which will avert an affordability crisis. Other cities could stand to take a page out from the Lone Star playbook.<a target="_blank" href="https://www.businessinsider.com/austin-home-prices-falling-texas-mortgage-rates-housing-crisis-success-2024-9">How Austin slashed home prices</a>.<h2 id="5fef756b-4b6b-4037-8f33-9635854b9d8b">What we're watching this weekend</h2><div type="image" title="A television showing Inside Out 2" height="1500" width="2000" msid="113766324" hostid="261" sizebytes="302308"></div><ul><li>"Inside Out 2": The Pixar sequel, which broke records to become the <a target="_blank" href="https://www.businessinsider.com/highest-grossing-animated-movies-all-time">highest-grossing animated movie of all time</a>, is now on Disney+.</li><li>"Oddity": Forget <a target="_blank" href="https://www.businessinsider.com/longlegs-ending-explained-lee-harker-nicolas-cage-killer-satan-2024-7">"Longlegs"</a> — the actual best horror movie of the year is streaming on Shudder.</li><li>"The Great British Baking Show": Ready, set, bake! The 12th installment of the beloved baking show just premiered on Netflix.</li></ul><a target="_blank" href="https://www.businessinsider.com/best-shows-movies-streaming-netflix-hulu-disney-plus-september-27-24">See the full list</a><div type="image" title="A red shopping bag surrounded by $100 bills." height="1500" width="2000" msid="113766327" hostid="261" sizebytes="244828"></div><h2 id="a09a70ef-5e7e-4bf4-80b2-3731f70bdc6e">Deals we love</h2><ul><li>Calling all Madewell shoppers: The <a target="_blank" href="https://businessinsider.com/guides/deals/madewell-insiders-event-sales-deals-2024-9">bi-annual Madewell Insiders sale is here</a> with 25% off almost everything full-price and an additional 40% off sale. Sign up with your email and save big on some of our favorite denim and basics.</li><li>It's spooky season: Fall is officially here, so it's time to let our guide to <a target="_blank" href="https://www.businessinsider.com/guides/home/best-halloween-decorations">the best Halloween decorations</a> inspire you. From tabletop centerpieces to ghostly candles, we're here to help you get the creative juices flowing.</li><li>iPhone 16 hot take: Our senior tech reporter explains in his <a target="_blank" href="https://www.businessinsider.com/guides/tech/iphone-16-review">iPhone 16 review</a> why you might not need to upgrade from the base model to the Pro version.</li></ul><h2 id="3a2e4b99-8063-4f80-8653-d1ec4a2af89a">More of this week's top reads:</h2><ul><li>We spent $275 at Fleming's Steakhouse. It's better suited for <a target="_blank" href="https://www.businessinsider.com/is-flemings-prime-steakhouse-worth-it-for-two-2024-9">business dinners than date nights</a>.</li><li>A 70-year-old who got into weightlifting explains <a target="_blank" href="https://www.businessinsider.com/70-year-old-lost-weight-start-strength-training-tips-fit-2024-9">how she lost 70 pounds</a>.</li><li>Millennials and Gen Zers share their top <a target="_blank" href="https://www.businessinsider.com/hidden-gem-travel-destinations-gen-z-millennials-recommend-2024-9">hidden-gem travel destinations</a>.</li><li>I paid $120 for a fine-dining experience narrated by AI. <a target="_blank" href="https://businessinsider.com/trying-ai-fine-dining-tasting-menu-venhue-new-york-2024-9/">High-brow restaurants should take notes</a>.</li><li>The US' top supplement expert takes <a target="_blank" href="https://www.businessinsider.com/us-top-supplement-expert-takes-3-supplements-busy-2024-9">these three when he's busy</a>.</li><li>A mom describes the differences in quality of life <a target="_blank" href="https://www.businessinsider.com/moving-us-to-switzerland-better-quality-of-life-staying-abroad-2024-9">between Switzerland and the US</a>.</li><li>Step inside a 5-star resort in one of <a target="_blank" href="https://www.businessinsider.com/panama-santa-maria-resort-jack-nicklaus-golf-course-review-2024-9">Panama City's wealthiest neighborhoods</a>.</li><li>Traveler who's been to over 50 countries ranks <a target="_blank" href="https://www.businessinsider.com/favorite-country-from-frequent-traveler-asia-kyrgyzstan">this Central Asian gem as one of her favorites</a>.</li></ul>Aldi shoppers have spoken: These are the <a target="_blank" href="https://www.businessinsider.com/best-products-aldi-right-now-fan-favorite-awards-2024-9">best things to buy at the chain right now</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York City. <a target="_blank" class="" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York. Grace Lett, editor, in Chicago.

You Searched For "Indiabulls Housing share price" and got 7 results

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They got priced out of NYC, so they bought a $160,000 house in Vermont — but country life doesn't mean they're 'suddenly wealthy'

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