Midpack
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
We’re planning on relocating and buying a “forever home” that’ll cost significantly more inflation adjusted than any house we’ve ever owned, about 160% of our current homes valuation. Property taxes and general expenses will go up about the same.
I’m still having a tough time with it, especially since owning homes well below our means helped us achieve FI early. And conventional wisdom seems to be downsize and reduce housing costs in retirement, some folks even plan on cashing in some home equity to enhance their nest egg.
OTOH DW says she wants this house to be exactly what she’s always wanted (not unreasonable IMO), and the numbers say it’ll be (comfortably) within our retirement spending projections - unless returns are much worse than ever. She doesn’t worry about what we can afford, she considers that my responsibility...and I’d never mislead her.
Neither one of us wants to stay where we are or further renovate the current [-]dump[/-] house.
If you bought a second home in retirement, use total value vs prior home.
For those who traded up $ wise for your forever home/homes, any regrets?
For those with rental properties, this poll probably doesn’t apply.
I’m still having a tough time with it, especially since owning homes well below our means helped us achieve FI early. And conventional wisdom seems to be downsize and reduce housing costs in retirement, some folks even plan on cashing in some home equity to enhance their nest egg.
OTOH DW says she wants this house to be exactly what she’s always wanted (not unreasonable IMO), and the numbers say it’ll be (comfortably) within our retirement spending projections - unless returns are much worse than ever. She doesn’t worry about what we can afford, she considers that my responsibility...and I’d never mislead her.
Neither one of us wants to stay where we are or further renovate the current [-]dump[/-] house.
If you bought a second home in retirement, use total value vs prior home.
For those who traded up $ wise for your forever home/homes, any regrets?
For those with rental properties, this poll probably doesn’t apply.
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