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"Buying the smallest and crappiest house in the nicest town"
question comes down to this,
1) Would you want to surrounded by everyone that makes $500,000 per year while you are only making $100,000 per year?
2) or would you want to live by everyone making $50,000 per year while you are making $100,000 per year.
I think most people want to choose option 2.
I think there's probably a greater difference, around here at least, between the 50K and the 100K earner than the 100K and the 500K earner. Personally I don't really know what my neighbors make.
I think some are missing the point from the OP's post.
Location, Location, Location.
Locate in the best town you can afford
Locate in the best section of that town
Locate in the best lot in that section.
The best most exclusive town could have a bad lot on a crummy street. You don't want to buy there just because the town is the "best".
I don't know about anybody else but I don't want to buy a house located on a busy street next to a gas station/repair shop just because that town is Milburn, Watchung, Warren,Montclair, etc.etc.
I think there's probably a greater difference, around here at least, between the 50K and the 100K earner than the 100K and the 500K earner. Personally I don't really know what my neighbors make.
im sure a lot of people may not appreciate it because they are jealous and want to label the people they are jealous of as "snotty" but they are better off being in a town where others are wealthier than they are. the area will be safer, kids will be smarter and less likely to get into trouble and the women will be better looking.
im sure a lot of people may not appreciate it because they are jealous and want to label the people they are jealous of as "snotty" but they are better off being in a town where others are wealthier than they are. the area will be safer, kids will be smarter and less likely to get into trouble and the women will be better looking.
And probably even more important than being "smarter", your kids will have a social network that can actually help them in the future. Having friends is great, rich or poor, but when starting a business or looking for a job the wealthy friends can help a lot more than the poor ones can.
I would never go to either extreme. Compromise and find something in the middle. Average home in an average town is far more desirable to me than a bad home in a good town or a good home in a bad town.
And probably even more important than being "smarter", your kids will have a social network that can actually help them in the future. Having friends is great, rich or poor, but when starting a business or looking for a job the wealthy friends can help a lot more than the poor ones can.
exactly. you are better off having friends with rich parents because that is the most clear indicator that they will probably be rich. i think they will also probably be more hands on parents that value education and dont let their children get into trouble. that is definitely not 100% but there is no 100% so you choose what is most likely to result in better outcomes. thats being around rich people.
im sure a lot of people may not appreciate it because they are jealous and want to label the people they are jealous of as "snotty" but they are better off being in a town where others are wealthier than they are. the area will be safer, kids will be smarter and less likely to get into trouble and the women will be better looking.
Buying the crappiest house in the "best" town living far over your means will make your kids grow up to be jealous of their surroundings, and be very insecure with a very low self-esteem. Your perception of these things is very black & white. Some of the "better" towns are less safe than some of the more affordable towns. I have seen kids bully those less fortunate than themselves, which can have some bad results. Any bullied kid could fail out because he/she is so miserable in school. As for women, maybe if your definition of "better-looking" means sleazy, greasy looking, smoking cigarettes and wearing a shabby pink sweat suit that only gets tighter the more weight she gains, with a loud obnoxious personality.
This is just a way to sugarcoat your need to uphold your image, when you tell random people what town you live in, you want them to think you are better off than they are. Even though you are living by far less comfortably.
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