Need Home Rant

[LivingAlmostLarge]

I think that's fine if you can be satisfied with one home. BUT steve you didn't exactly buy a 4 bedroom home right? For us at the rate we're going and even for ScrimpandSave we'll have been homeowners of condo/townhouse for going on 7 years and no plans of moving at least another 2-3+ years. So we'll be in homeownership for over 10 years before even touching a single family home.

I don't think I could have rented for that long. Also there are no options for living with our families.

We have a lot of friends who lived at home to move into buying a SFH. But they were fortunately to live at home for 10+ years. That's fine if it's an option.

I don't think trading up is that new a concept DS. My sibs are 20+ years older and they all have traded up. Starting in condos and moving into homes. None started in homes. All are in homes now. My oldest stayed in townhouse for 10+ years and one kids. My sister stayed 5 years and 1 kid. My youngest stayed 12 years in his townhouse and almost paid it off, and 1 child, and now is buying a SFH.

They didn't overbuy, and were all able to put significant DP on their SFH when they bought them. They lived well within their means and the fixed rates meant their "rent" stayed the same during that long time period.

[ScrimpAndSave]

I also want to say that I live in an area where prices are high...but not insane. I will be able to afford a home that is around $300k and that will be plenty big for as long as we live in this area.

[disneysteve]

I guess in a way, I did trade up even though there was only one purchase involved. First, I rented an efficiency apartment. Then I rented a 2-bedroom apartment. Then my new wife and I rented a 3-bedroom row home from her great aunt. Finally, we bought our own home. So I lived in 3 places in 10 years before I got my house.

[Scanner]

think that way makes a lot of sense. I don't get the whole "starter" home and "trading up" concept. We wanted to buy once and be done, even if it meant delaying the purchase. We didn't want to go through the whole house-hunting, buying, packing and moving process, furnishing and decorating, only to have to do it all over again, along with selling a house, a few years later.

We had a starter home but I'll admit, when we were house shopping, I just went along with my wife (she was 8 months pregnant and nesting) even though I saw objections.

There was no basement, a small South Jersey Garage (not for cars. . .for stuff), and hardly any closet space.

But it was cute, brick, and charming so that's what she was thinking at the time (with Baby 1). Of course, with being the first grandchild, we got crap galore and it's not copasetic to just heave the crap out the door. . .so we needed more space.

We now live in an adequate McMansion (4BDR, 2.5 bath, 2600 sq. feet).

I don't know. . .I am conflicted.

I see what the Conservative Savingadvicees are saying. . .and we are probably 70% in alignment with that.

But lately . . .I'll admit, we would like a big piece of land vs. a 80 x 100 lot. And there are some homes on a "Blue Light special" with an acre of land near us. When you live on McMansion, the neighborhood urchins are just too close. It would be nice to have some breathing room.

The problem would be a rising, or in this case, an ebbing tide lifts or sinks all boats. Our home I'm sure has lost value too.

However, it would be nice to be in a bigger house when the next bull run happens.

10% appreciation of a $400,000 house is $40,000 vs. a $300,000 house which is $30,000.

Oh, well, just giving the psychology of being "upwardly mobile."