Retired Expat
Full time employment: Posting here.
Totally torn. I like my home but one recently came on the market in a nearby area that I love! Right on the lake, larger than my current but with a separate Guest House that could be rented out and definitely more conducive for guests than the small guest room with shared bath we have now.
The cost is about $250k more than my current so I will need to draw that from investments. About 8% of my Net Worth not counting primary residence. I made almost double that in the markets this year.
Of course I am financially “conservative” (read that as cheap). But people talk about moving investments into cash all the time and forgo income and growth for security. Can a house be considered a similar thing? Historically house values here don’t change by much, up or down so the likely hood is it will all come back at some point.
Additionally the house is better configured for us as we age and the idea of sailing or kayaking and sitting by the water is making me crazy excited.
Any suggestions?
BTW: Running Firecalc with reduced investment savings is 100% it seems.. logically it all works, but the idea of spending a big chunk of money is anathema to me. Also having finally gotten my home renovated and how I like it, this will be another project as it needs a new Kitchen and bath, as well as other upgrades and decorating, plus the hassle of moving.... may just be laziness on my part and general inertia.....
The cost is about $250k more than my current so I will need to draw that from investments. About 8% of my Net Worth not counting primary residence. I made almost double that in the markets this year.
Of course I am financially “conservative” (read that as cheap). But people talk about moving investments into cash all the time and forgo income and growth for security. Can a house be considered a similar thing? Historically house values here don’t change by much, up or down so the likely hood is it will all come back at some point.
Additionally the house is better configured for us as we age and the idea of sailing or kayaking and sitting by the water is making me crazy excited.
Any suggestions?
BTW: Running Firecalc with reduced investment savings is 100% it seems.. logically it all works, but the idea of spending a big chunk of money is anathema to me. Also having finally gotten my home renovated and how I like it, this will be another project as it needs a new Kitchen and bath, as well as other upgrades and decorating, plus the hassle of moving.... may just be laziness on my part and general inertia.....