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Let me tell you something, Gabriella, the 20 something with the hugely successful husband. I am 42 and over the years have had many, many "hugely successful" 20 somethings working for me. They made a lot of money when things were good, spent it all and then some thinking it was an annuity, (no matter how much I warned them that things are cyclical and there's no such thing as a guaranteed gravy train) and, then, when things got bad, they had nothing except debt, and a whole lot of it. Which in many cases wrecked their marriages because everything was built around their money. Listen to someone who is older and wiser - it is wonderful if he is hugely successful - save a lot of it and in years to come, when you are certain that you are "set", go buy yourself a real mansion in a neighborhood where it belongs. Until then, stop sounding off like a spoiled little brat to people who are trying to help you, and worry about building a nest egg for your future children's education.
Let's not forget he's 14 years her senior. Once she starts looking a little old, a little worn, a little too mommy-esque for his liking, the hugely successful men tend to replace them with the younger, trophy wives.
Hey people, easy on Gabbi there...she's young and has ALOT to learn. The future has a very nice way of serving up our life lessons in a cold yet compelling manner. At 47 I have seen the arrogant and the know-it-alls, who refused to acknowledge the error in their thinking, made humbe by these lessons beyond belief. Best of luck and here's hoping she survives them.
Now on topic: Even if I had the money I would not want a huge house or cram my life full of luxury items. Why? Cause I could care less about those things. My expenses in the following order of importance:
1. Maintaining a small yet cozy, safe home (with maybe a little yard or a co-op with a balcony) and fully paid for;
2. Food
3. Electronics
4. travel
5. And last but not least, continuing my Education (PHD)
I simply could care less about living in fulltime luxury, I live my life in the most simplistic manner possible with very little clutter and material possessions. I dont know when it happened exactly for me, but I think I got on that "simple living" bandwagon years ago and never got off.
Not everyone wants to live the mcmansion life even if they can afford to.
Let's not forget he's 14 years her senior. Once she starts looking a little old, a little worn, a little too mommy-esque for his liking, the hugely successful men tend to replace them with the younger, trophy wives.
I was biting my tongue with this comment. My thoughts exactly. With all that time staying home she'd better keep herself slim trim and hot for her super successful fiance.
A big no-no= "Never buy the best house on a block"...
The mortgage is half the battle. What really costs $ is heating/cooling/maintenance/ of the house. 2500 sq foot vs 1200 sq foot is a HUGE difference in these aspects, not to mention a bigger tax bill in most cases.
I can tell you from first-hand knowledge that a 2500 sq ft+ house will cost $7000-$10,000 more per year to manage than a smaller house. Remember, bigger houses require more equipment, piping, duct work, multiple zone heating/cooling, etc...and these things are very expensive to replace when they break. Always ask for the most recent utility bills. I know people in mini-McMansions that get monthly $900 Lipa bills in the summer and $700 Keyspan or oil bills in the winter. vs $200 / $300 for a smaller sized house. If you are ok with spending an EXTRA $10k a year vs smaller house, plus what will be a bigger mortgage payment.. go with the giant house. Don't get in over your head, a good rule of thumb is take the mortgage payment + escrow payment + ($0.50*sq feet) , and that will roughly be your gross monthly payment. Don't forget groceries and ordinary bills (cable/phones/auto/etc..). The $.50 per sq foot is assuming energy prices stay at this price forever (very unlikely).
This is the kind of awesome information I like to read on this discussion board.. thank you for making it worth while!
homeowners, flood, and property taxes increase every year too.
oil n' gas yo-yo. my last house was 875 a month for mortgage/tax/ins...within 5 years it was at 1500 a month. my other house went from 2100 to 2500 within 2 years.
i cant wait to see how i get beat over the head this year.
mcmansion = overused term here. They don't even have the space to build those on our lots. Look at the picture... does that even fit in your neighborhood lots? Not every knock-down or dormer that looks modern is a mcmansion.
McMansion=1000 or more sq ft of wasted space. They waste most of the house on a foyer and front facade giving the illusion(key word here) of a large fancy home.
Smoke and mirrors kids.
McMansion=1000 or more sq ft of wasted space. They waste most of the house on a foyer and front facade giving the illusion(key word here) of a large fancy home.
Smoke and mirrors kids.
... and are judged by neighbors who only see the outside.
... and are judged by neighbors who only see the outside.
exactly.
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