MotherGoose Posted March 27, 2017 Share Posted March 27, 2017 We're mid-life, and trying to stash as much as we can into retirement funds. I'd rather live in tight quarters and be cozy rather than hamper our ability to add to retirement and college funds.Definitely agree with this. Quote Link to comment Share on other sites More sharing options...
rutamattatt Posted March 27, 2017 Share Posted March 27, 2017 We just bought a house with an additional bathroom and two more bedrooms than what we had previously. It felt a little strange to upsize at this point in our life with three teens, and to be honest our old home would be a perfect fit for my DH and I when the kids are gone. But we have some extenuating circumstances... DH works from home and the bigger house brings his office in from the garage. We also have a special needs child who may never live independently, so we had to buy for a number of different contingencies. My DH says we will stay in this house for another 7-8 years and then downsize. I HATE moving and have vowed to stay here until they cart out my cold, dead body. It WAS really hard to go from a paid down mortgage to starting nearly again, but we just weren't able to make it work anymore in the smaller house comfortably. 1 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 27, 2017 Share Posted March 27, 2017 And often you can't afford to have your dream home till you are 40 plus. Ain't that the truth. My husband had his first starter home at 25, second one at 30, and we will be moving into a rental and then building the dream home at 40-ish for him. It was not supposed to take this long but finances ended up tighter than they were supposed to. I've been in the kind of tight starter home from the first baby to the sixth and it hasn't gotten roomier in that time ;) But the dream home in a high cost of living area? Not happening for most in their 30's, by and large. Quote Link to comment Share on other sites More sharing options...
SparklyUnicorn Posted March 27, 2017 Share Posted March 27, 2017 And often you can't afford to have your dream home till you are 40 plus. or never...probably never here If I even entertain that idea, I'm brought back by the reality of the 100,000 other expenses that are coming up. So that isn't happening I'm sure. Which is ok. 1 Quote Link to comment Share on other sites More sharing options...
Seasider Posted March 27, 2017 Share Posted March 27, 2017 I would never buy a house bigger just to have room for visiting family on holidays. An extreme example is a friend of mine who got divorced and his wife kept the really large house because she needed something big for when the kids returned for holidays. But I know the area he lives has a minimum property tax was 30K per year. I pointed out that it would be cheaper for her to have the house she needed and then for every big holiday rent hotel rooms and hospitality suite of a decent hotel AND get the meal catered. Other people wouldn't have that extreme price difference, but bigger houses cost more to buy, more in taxes, more to maintain and more to heat/AC. That is an excellent point. The trick would be to sock away that difference in tax cost so you have the money ready when the kids want to visit. Quote Link to comment Share on other sites More sharing options...
HollyDay Posted March 27, 2017 Share Posted March 27, 2017 We were in this boat 2 years ago. Dh's work moved us every 3-4 years for the past 21 years so we have never had the opportunity to stay and get much equity anywhere. I remarked today that many of my friends have lived in the same house for over 20 years and are paying them off, while we are starting from scratch again. We opted for a smaller house than we would have liked. It has 4 bedrooms, but the bedrooms other than the master are smallish. One would fit a twin bed but we use it as an office. Each dd has a bedroom that is smaller than they have ever had before (in years past, they have shared 1 big room and had the other room as a game/play room, but that is not an option in this house). It is one story, which was important to us as we looked to the future. It is on a cul de sac which is also important to us. It was not at the top of our price range which was important thinking ahead too. When dc move out, we will have a guest room (which we don't now). When they come visit, we can figure that out....sleeper sofas, air mattresses, etc. I think it will work... 1 Quote Link to comment Share on other sites More sharing options...
amy g. Posted March 28, 2017 Share Posted March 28, 2017 We are 50 and last summer we moved to our dream home in a high COL area so Dh could take the job that he wanted to keep for the next 20 years, if possible. We are renting, but have until August to buy it. We haven't bought it yet, because we just need to be sure that we want to stay here. The job that Dh had wanted in Washington DC is open again, and he may interview for it. If we moved there, I would downsize by almost half and live where he could walk to the office. The part I hate is that I would be so far from my adult children. I like having a comfortable home with plenty of room for everyone, but I know that isn't always in the cards. Quote Link to comment Share on other sites More sharing options...
Liz CA Posted March 28, 2017 Share Posted March 28, 2017 We are 50 and last summer we moved to our dream home in a high COL area so Dh could take the job that he wanted to keep for the next 20 years, if possible. We are renting, but have until August to buy it. We haven't bought it yet, because we just need to be sure that we want to stay here. The job that Dh had wanted in Washington DC is open again, and he may interview for it. If we moved there, I would downsize by almost half and live where he could walk to the office. The part I hate is that I would be so far from my adult children. I like having a comfortable home with plenty of room for everyone, but I know that isn't always in the cards. Wow Amy! You guys may be moving clear across the country after just moving recently? I'd be eating a lot of chocolate... :laugh: Quote Link to comment Share on other sites More sharing options...
amy g. Posted March 28, 2017 Share Posted March 28, 2017 Wow Amy! You guys may be moving clear across the country after just moving recently? I'd be eating a lot of chocolate... :laugh: Well, right after we decided Dh should interview in DC his boss here offered an even more attractive position to stay so I'm hoping that is what we are doing. I'm in love with this town. I'm in love with my house. I'm in love with my great neighbors. I'm in love with my church and the kids' swim team. We have a couple more months then we need to commit to what we are going to do. Either way, we would be buying a house in an expensive area when we are in our 50s, but sometimes moving pays off more than staying put. So pass the chocolate! 3 Quote Link to comment Share on other sites More sharing options...
6packofun Posted March 28, 2017 Share Posted March 28, 2017 I just wanted to pop into this thread and say thanks for asking about it. I've been very sad lately that only now, at ages (almost) 46 and 45 has dh started earning enough for us to start saving for a home. We have always rented and it seems like the so-called "American Dream" (or at least the home ownership part of it) ship has sailed for us. Should we even bother? Should we rent until we die? The thought is so very depressing! :( Quote Link to comment Share on other sites More sharing options...
diplomum Posted March 28, 2017 Share Posted March 28, 2017 I keep reading this thread with interest, as our closing date gets ever closer, and wondering if we made the right decision! Are we crazy buying a house big enough for visitors? Should we have opted for a small cottage somewhere? I think after almost fifteen years on five different continents we all just need a "family home" and if we stay out the older kids can use it for cheap vacations and getaways. Having people stay is a top priority for us (all my family is in Europe, so any visitors are staying two or more weeks). Anyway, I think oddly this thread has cemented our decision as a good one "for us" even though others would have made a totally different choice. I'm glad we opted for a smaller floor plan overall though. 5 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2017 Share Posted March 28, 2017 I just wanted to pop into this thread and say thanks for asking about it. I've been very sad lately that only now, at ages (almost) 46 and 45 has dh started earning enough for us to start saving for a home. We have always rented and it seems like the so-called "American Dream" (or at least the home ownership part of it) ship has sailed for us. Should we even bother? Should we rent until we die? The thought is so very depressing! :( In many markets renters tend to be money ahead because of the lower overhead and maintenance costs, as well as cheap rent compared to median home purchase prices. It might make a ton of sense where you are. Really! http://jlcollinsnh.com/2012/02/23/rent-v-owning-your-home-opportunity-cost-and-running-some-numbers/ His book is fantastic too, FYI :) Quote Link to comment Share on other sites More sharing options...
Jaybee Posted March 28, 2017 Share Posted March 28, 2017 I keep reading this thread with interest, as our closing date gets ever closer, and wondering if we made the right decision! Are we crazy buying a house big enough for visitors? Should we have opted for a small cottage somewhere? I think after almost fifteen years on five different continents we all just need a "family home" and if we stay out the older kids can use it for cheap vacations and getaways. Having people stay is a top priority for us (all my family is in Europe, so any visitors are staying two or more weeks). Anyway, I think oddly this thread has cemented our decision as a good one "for us" even though others would have made a totally different choice. I'm glad we opted for a smaller floor plan overall though. I've found this thread interesting as well. We are in our late 50s, and after living overseas for 25 years, are back in the US with a need for a home. However, due to some complications with our plans, we have had to use our nice-sized "downpayment" for living expenses, and I don't know now that we will ever be able to buy. I so long for a place our kids will enjoy "coming home" to, as they are scattered, and if they have to pay for a hotel (or we do), it may just not happen often. And that thought makes me sad. :( Quote Link to comment Share on other sites More sharing options...
MysteryJen Posted March 28, 2017 Share Posted March 28, 2017 We moved in our mid-forties last year. It was a downsizing move to be closer to dh's work and to a better school district as my last two will attend ps high school. It was downsizing in terms of size, we went down in square footage by more than half. In order to be where we wanted, we ended up making a near lateral move in terms of cost. It really was a "now or never" move because if we had moved later we would have been priced out of the market. Pros are good: dh 5 minutes to work, kids 7 minute walk to school Cons are financial, but I am trying to see them as temporary. Sent from my LG-H345 using Tapatalk Quote Link to comment Share on other sites More sharing options...
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