I'm with ya, regarding not buying more house than you need. Two years ago, I sold the McMansion and moved to a smaller house-- not out of financial necessity, but rather because it's an easier house to live in for two adults (and because I'm cheap). Takes less time to clean, too. I couldn't be happier. Smaller house, bigger yard for gardening.Pointedstick wrote: I hear what you're saying, Coffee, but it's never so simple. Right now I'm already doing damage to my wife and kid by being gone in the morning when they wake up, and not returning until 6 PM. It feels like we barely see each other. We haven't moved in three years (blessedly), but during that time, our rent has been raised from $1,200/mo to $1,500/mo. We live on much more than rice and beans too.
Starting a business is a great idea, and I did just that a year ago. Living off an income stream from the business is the goal!
My wife and I honestly don't feel the need for a large, expensive house. That's not me being stingy and pushing her away, that's both of us wanting to avoid paying for more house than we need. If we were prepared to pay 200k in cash on a house, our preference would be to buy the land and build the house ourself. For half the price, we'd get a hell of a house. My experience has been that most conventionally-built houses are money sinks due to the systems and materials chosen, regardless of how much they cost. Doesn't matter how much you pay for dimensional lumber on a concrete foundation with a shingle roof; it's still going to be just as vulnerable to flooding, fire, rot, and mold.
Different locations. 15k rental is in the high-cost location where we currently live; the 75k house in in a normal part of the country.TripleB wrote: I find it hard to believe that you can buy a house that has a sub 5:1 ratio of house price to rent. (i.e. $70k house that rents for $15k).
I like the idea of earthbag construction, but the problem (in most places) with alt. construction is that you'll have to build so far out in the country that you're going to end up paying with your time in regard to travel to and from the city, for shopping.
I reject the concept that working has to be slave labor. Both of you guys are smart enough that if you put your focus and efforts into finding a way to make money, doing what you love (or at least doing something that creates an automated cash flow system-- like a web business) you could be free of the silk neck chain in a couple of years or less.
