2017wasthe year
Dryer sheet wannabe
- Joined
- Oct 23, 2017
- Messages
- 17
I recently introduced myself in the Hi I am ... forum. I recently pulled the plug on full-time employment and have a part-time remote arrangement that will last until Sept. at the latest. Once that ends, my healthcare will be covered through COBRA (the company's rate wasn't as bad as i thought it would be) because I won't possibly be eligible for any subsidy until 2020 due to some deferred comp hitting in 2019.
My investable assets are $3 million (age 57 1/2, AA 60/35/5). My rental expenses are currently ultra low but I am moving to another state to be near my parents and I will be building a 1,800 square foot house on a lot I own. The ballpark price for the build is $250k (not including landscaping (~ $3-4k), furniture, window coverings. The builder is currently working on a detailed price. The lot was $42k.
After living so cheaply for so many years and saving the majority of my income, it is eating away at me to spend this much on a house. I plan on getting a mortgage and eventually paying it off. I just can't take the money out of my bond fund reserves. It's too painful to do, although I will put the 20% down to avoid any PMI.
Part of me thinks I should buy a cheap house (~$130-150k total) and be happy in it. Another part of me says I can afford this and I should build it and enjoy it because I can afford it.
What I know is that my stomach churns at the thought of the outlay. Totaling up the mortgage and my other expenses, I get a padded total of $66k for my annual living expenses. Am I crazy to hesitate?
My investable assets are $3 million (age 57 1/2, AA 60/35/5). My rental expenses are currently ultra low but I am moving to another state to be near my parents and I will be building a 1,800 square foot house on a lot I own. The ballpark price for the build is $250k (not including landscaping (~ $3-4k), furniture, window coverings. The builder is currently working on a detailed price. The lot was $42k.
After living so cheaply for so many years and saving the majority of my income, it is eating away at me to spend this much on a house. I plan on getting a mortgage and eventually paying it off. I just can't take the money out of my bond fund reserves. It's too painful to do, although I will put the 20% down to avoid any PMI.
Part of me thinks I should buy a cheap house (~$130-150k total) and be happy in it. Another part of me says I can afford this and I should build it and enjoy it because I can afford it.
What I know is that my stomach churns at the thought of the outlay. Totaling up the mortgage and my other expenses, I get a padded total of $66k for my annual living expenses. Am I crazy to hesitate?
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