My buddy thinks he's too old to build his dream house"..........I say he's not. (rent, bedrooms)
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My buddy has 2 sons and both are seniors in college. He's 46y/o and his wife is 44y/o.
They are very succssful financially.
I was talking to my buddy and he said he'd love to build his dream home for him and his wife after spending years working, saving and raising 2 boys(twins).
He thinks he should have done it when he was "younger".....I said you're only 46, if you have the cash( they do) why not go ahead and do it?
His wife is gung ho and excited so is he but he just wish he'd did it while the boys were little, I understand that.
So, is my buddy too old? Any one build a home after the age of 40?
In my experience, MOST people build their dream homes after they're 40. We're 46, and are planning to build our second 'dream home'. We're in a modern Steel/Glass/Travertine 'masterpiece' we bought when we moved out here, and want something smaller and more formal. Friends who moved out here when we did are building at the opposite end of the parcel. So we'll have French-style Limestone houses on-axis, facing each other.
And the kids will always have their own rooms, no matter where we live. So, it's not like the bedrooms will be redundant space.
But good heavens! Many people don't even have a kid, these days, until they're 40. Can't afford it...considering they've been taxed nearly to death, to support the breeding habits of others. Lots of people are basically 'interns' until they're 40 or 50.... only begin making real money at that age.
And the more I think about it, people we've known have built huge houses when they were in their seventies...and have lived to enjoy them. Before 40, most people can only afford spec houses.
I told him when I was in Chicago, I met people that were in their 60's that were building their 2nd and sometimes 3rd home.
I told him he's getting ready to hit a phase in his life where he'll start to reach his earning potential. Most men get there in our mid-40's. That's when we start rocking and rolling.
He's well invested, partners in other businesses and clears about $450K from the "day job". Their total house hold income is low 7 figures/yr.
His wife has a great paying career and pulls in 6 figures managing all of the nurses in the school district. We live in a city of about 750K people.
I told him got for it.......you only live once. I'll probably be 45 when I build my dream loft but it'll be worth it. I can see it now.
Have fun building the new home.....sounds like it's going to be nice. The home you live in now sounds really cool. I'm 37 and said I'll rent while I save up to build my dream loft. That's all I've ever wanted. A nice 2 story loft with HUGE plate glass windows....I get excited thinking about it.
Quote:
Originally Posted by GrandviewGloria
In my experience, MOST people build their dream homes after they're 40. We're 46, and are planning to build our second 'dream home'. We're in a modern Steel/Glass/Travertine 'masterpiece' we bought when we moved out here, and want something smaller and more formal. Friends who moved out here when we did are building at the opposite end of the parcel. So we'll have French-style Limestone houses on-axis, facing each other.
And the kids will always have their own rooms, no matter where we live. So, it's not like the bedrooms will be redundant space.
But good heavens! Many people don't even have a kid, these days, until they're 40. Can't afford it...considering they've been taxed nearly to death, to support the breeding habits of others. Lots of people are basically 'interns' until they're 40 or 50.... only begin making real money at that age.
And the more I think about it, people we've known have built huge houses when they were in their seventies...and have lived to enjoy them. Before 40, most people can only afford spec houses.
He's not too old, not even close. My parents are finally building their "dream home". My dad just turned 60, and mom is a couple years younger. I would tell your buddy to go ahead and follow his dreams.
I don't know anyone under 40 who has built their dream house.
I do know plenty of people in their 50's and 60's though who have. One of the guys I worked with built his dream house a couple years before he retired, and he's in his early 70's.
No way is he too old. Another example of why not: Take a look at any home decorating magazine. That kind where someone reached a stage in their life where they have the time and money to refurbish an old farm house or victorian. I notice much of the time it is people that look 40 or 50 ish. I think many people don't have the means until this age and it is still plenty young enough to work on the house. However, I think he needs to get going because life is short.
My buddy has 2 sons and both are seniors in college. He's 46y/o and his wife is 44y/o.
They are very succssful financially.
I was talking to my buddy and he said he'd love to build his dream home for him and his wife after spending years working, saving and raising 2 boys(twins).
He thinks he should have done it when he was "younger".....I said you're only 46, if you have the cash( they do) why not go ahead and do it?
His wife is gung ho and excited so is he but he just wish he'd did it while the boys were little, I understand that.
So, is my buddy too old? Any one build a home after the age of 40?
PLEASE, tell your buddy MOST people don't get to build their dream home until their 50's and 60's! He is actually still kind of young for doing it (and I sure hope he will!).
Thinking " being too old" is not the real issue, here.
Maybe he's comfortable with his current home.
Maybe he does not view building a dream home as fun.
Just because he appears to be able to afford it, is not a good enough reason to do it.
Ole Warren Buffet is still in the same home he bought back in the late 50's.
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