I found myself in this position. I paid off my car, paid off my house and bought my sister's half of a very expensive inherited lake house.
Then my wife got bored and negotiated to buy a foreclosure home down the street--an absolutely impressive home on 5.5 acres with a 20x40 pool. The deal fell through, thankfully as I wasn't up to repainting and reflooring 6000 square feet.
The wife ended up finding a 5 bedroom, 5 bathroom foreclosure with 2 double car garages--somewhat over 5000 square feet. Now she complains about cleaning bathrooms constantly. But she loves it, but feels good we're in it for 25% less than it's worth. Cash speaks when buying foreclosed homes.
We're putting the last house on the market next week. Who needs to have 13,000 square feet of houses, as insurance and utilities hurt? I'm thankful Alabama property taxes are ridiculously low when I paid them today.