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I had to ask the question to myself. What do I want out of life. If I can have all the things that I want they would be, a boat at the harbor, an airplane at the airport, a Porsche 911 (any year), a truck, and a large beautiful home at the beach.
I had to realize that I don't have the financial backing for all that. What I can pull off is a beautiful older home, an MGB, a nice car for my wife and a truck for me. I am working on getting a boat in a few years and an old airplane. My goals are not the big house but the cool stuff is what I want. One thing at a time though.
Build the life you want not the one someone else has.
I’m the odd man out here. There’s 7 pages of people saying how modest they live and choose to bank the savings. I bought a McMansion for the status and because I enjoy it ( I admit it). I can afford it and I wanted it so rather try to,impress all those who humblebrag about how they live modestly and below their means, I bought what made me happy. I’m not impressing the neighbors, they all have similar homes.
It is not a financial hardship and I actually set up my situation where the cost is less then when I rented a house 1/3 the size.
Everybody is talking about how those that bought McMansions aren’t saving as much. No one knows for sure. Some of those people you think that have stretched themselves might well be making way more money than you and even saving and investing a lot more than you.
In the end you all sound happy with your decision to live in smaller homes for various reasons, but I don’t think it’s fair to label others a certain way because they chose a larger house. You only live once and if you can afford it, get it. That’s why you work.
Some posters said McMansions are overkill and are happy with 2500 sq feet. Keep in mind others living in 1000 sq feet might well be making the same comments about you that you make on others that choose a a macmansion.
Totally agree. If someone else wants an enormous house, who am I to criticize them? It's none of my business. I don't want a large house, but that's only because I hate housework and there are only two of us (actually four, we have two Great Danes and they are big as grown adults).
I am curious to how many people are out there that don't want large, nice, expensive homes, but can afford them? I'm not necessarily talking mansions, but larger nice homes that just show that you have a lot of money. The ones you see in affluent suburbs and they wow you. What percentage of people that have money would you say are like that?
Still trying to figure the OP out.
I'm guessing he was raised to want an impressive home but having second thoughts:
Quote:
Well me personally, I always had a dream to have a huge impressive home, but now I've lost that desire for some reason. I'm a bit of a minimalist and aren't surrounded by people that would be that impressed and I don't want to be surrounded by people that would be that impressed by it. I could afford a big home, but am single and childless also. All that might change if I get married and have kids.
Yet here is the comment after slowdodge reveals he has an impressive home.
Quote:
So, this is the only honest poster in this entire thread
???? Maybe the kid thinks we aren't being honest because we don't all think like him?
The cool thing about slowdodge's living situation is the minimal costs due to renting out the basement. But even if he didn't - who are we to begrudge his housing choice? Most of us don't care one bit.
It is interesting that he stirred up the pot and **poof** disappeared.
Last edited by creeksitter; 06-25-2019 at 03:10 PM..
I had to ask the question to myself. What do I want out of life. If I can have all the things that I want they would be, a boat at the harbor, an airplane at the airport, a Porsche 911 (any year), a truck, and a large beautiful home at the beach.
I had to realize that I don't have the financial backing for all that. What I can pull off is a beautiful older home, an MGB, a nice car for my wife and a truck for me. I am working on getting a boat in a few years and an old airplane. My goals are not the big house but the cool stuff is what I want. One thing at a time though.
Build the life you want not the one someone else has.
Why must they choose to afford some things.Does it matter how much a person needs for square footage? If they can have more space than you want and do all you list, what's wrong with that.
You also haven't been to any of the higher col living areas. $250k is only a down payment in some areas. I do agree with you turning a 250k house into a rental.
OP asked about why some people don't buy mansions if they can afford it. I'm not judging or dictating what anyone else must do, just sharing my "why."
And you're correct, low cost of living areas. These homes are just over 2,000 sq feet, attached garages, yards, built in the last 10/20 years. Obviously that budget wouldn't work in Manhattan or San Francisco. I'd expect my pay to increase in those cities as well, so hopefully it would stay relative.
I grew up in small homes with one bathroom, so can't imagine living in a McMansion or an otherwise bloated shack. It's only me here, and one day I just sat down and calculated that I only actually use about 900 sq. ft.
Lived in a high tax/COL area until I sold and purchased a cheap fixer in a prime location for cash in a low COL area. Both homes under 1,300 sq. ft.
Pouring lots of cash into fixing up the place exactly as I want it to look: modern, cool and spacious. Buying an older home with no upgrades means you don't pay for other people's cheesy "enhancements" like carpeting, builder grade cabinets and drop in modular bathrooms.
I'm suffering a lot during renovations and parted with lots of cash, but see the possibilities. When it's done I'll have a custom home with no mortgage and property taxes around $2k per year like, forever, and walkable to restaurants, shopping, museums and a major tourist center.
I've had my doubts, but think I may be doing it right. Don't be a house slave. Stick to small and enjoy life. Small is good.
Well me personally, I always had a dream to have a huge impressive home, but now I've lost that desire for some reason. I'm a bit of a minimalist and aren't surrounded by people that would be that impressed and I don't want to be surrounded by people that would be that impressed by it. I could afford a big home, but am single and childless also. All that might change if I get married and have kids.
Are you really the same person who wrote the original post?
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,572,211 times
Reputation: 16698
Quote:
Originally Posted by Bygeorge
I can afford a lot more house than I currently live in. I’ve no interest in upgrading.
1. Hassle
2. Have good neighbors
3. Have good HOA and only $60 a month.
4. Houses are black holes for money; no desire to throw more into one.
5. Don’t want to tempt a kid to move in.
6. Like my current lot, yard and overall location.
7. Know current house and its issues. We are friends.
The OP is conflating "big" with "nice"... not always a pairing. I have seen plenty of gorgeous, carefully curated cottages as well as monstrous architectural abominations.
Also, bigger houses incur more guests. I have a friend who lives in one bedroom condo as a multi millionaire because she hates visitors. Of course her condo is on a beach. It's beautiful. But not big or externally a "wow look at that!" place
Except for location.
After 44 years MrsM and I are still in our first starter home. It was, and still is, the least expensive home in the most expensive subdivision in our city
It was all was could afford and we were able to get the last 7.25% loan in the city.
A few years later when we wanted to move up, interest rates had skyrocketed. Then the kids went to college, then the kids got married, and now it's perfect for us
There are still several original neighbors on the street
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