Sisyphus
Recycles dryer sheets
- Joined
- Aug 31, 2005
- Messages
- 52
Ok, all...
Here's the situation. We have our first baby on the way, and have been planning and saving for ER for about 8 years. We have a pretty good nest egg at this point (for our age, compared to others, etc.) and own a multi-unit rental property which we live in to save money.
I'm REALLY getting the itch to move out of town a little and buy a house with more room. We currently have 3 bedrooms, so we're not cramped for room, but being in a rental neighborhood means there is really no privacy and no yard for a swingset, sandbox, garden, etc.
My question is this: I would love to buy one of the several houses that I'm looking at, but it would nearly triple our monthly housing payment. The difference in payment would come directly out of our ER savings. We can certainly "afford" the property, but have never followed the usual rules of what it means to be able to "afford" something.
Is it worth it to move (and hold on to the rental property) to have more room to breathe, and more privacy? Or, should we tough it out, stay here and keep saving like crazy? Or, a combination of both but don't do anything until after the baby arrives?
Any insights are appreciated!!!!
Here's the situation. We have our first baby on the way, and have been planning and saving for ER for about 8 years. We have a pretty good nest egg at this point (for our age, compared to others, etc.) and own a multi-unit rental property which we live in to save money.
I'm REALLY getting the itch to move out of town a little and buy a house with more room. We currently have 3 bedrooms, so we're not cramped for room, but being in a rental neighborhood means there is really no privacy and no yard for a swingset, sandbox, garden, etc.
My question is this: I would love to buy one of the several houses that I'm looking at, but it would nearly triple our monthly housing payment. The difference in payment would come directly out of our ER savings. We can certainly "afford" the property, but have never followed the usual rules of what it means to be able to "afford" something.
Is it worth it to move (and hold on to the rental property) to have more room to breathe, and more privacy? Or, should we tough it out, stay here and keep saving like crazy? Or, a combination of both but don't do anything until after the baby arrives?
Any insights are appreciated!!!!