So just never buy a home?
I'm not sure if I'll be living here in 5 years. I might not get another opportunity for 15 years. At that point, why not just be a life long renter?
Understood on your point wilked.
It would be nice to put some of my savings to work and invest in the purchase of what may or may not be a permanent home.
The home you live in is not an investment. It's a money pit. You want to use money to invest in real estate, buy an REIT Index Fund.There will come a time when you know you will be settling down in an area for more than 5 years. Buy then if you want.
Right, right, I know. My life, since college, has been not knowing. I might know 10 years from now. I hate paying my landlords mortgage every month.
Why is your savings not working for you now? Why not invest them?
Everyone needs a place to live, but home/ rental should be a lifestyle decision primarily, not financial.
I like to have the years worth of salary in there easily accessible for situations from medical to a weekend away in Vegas. There is plenty invested already. Maybe not smart.
Yeah, I'd only buy if I was planning on settling down for at least 5+ years. Or if you wanted to purchase a place to rent out and plan on being nearby. Land lording, unless you use a management company, can be a real pain in the ###.
Overall, this seems like a good problem to have.
Absolutely it's a good problem to have. I go back and forth on a daily basis here. Turning 34 in a month and starting to see the home ownership joy of one's life passing me by and just resigning myself to being a life long renter. I'd like to retire young...I feel like paying off a home earlier than retirement age, will allow me to do that. Unless I want to go live on a cruise ship 350 days a year, it'd be nice to have a "home" that's paid off so I can retire young
John Bender said:
I would enjoy some privacy of non apartment/condo life. I
Why not just rent a house?
Fair point. It's tough for me. I'd like some space (very tough in Philly burbs), I have a dog (a lot of places don't allow them). I'm currently in a condo that's more than big enough. Seems like I'm just spinning my wheels.
I have absolutely zero debt right now. Paid off student loans 2 years ago, I lease my car by choice (like my location, I get ancy after a year or two in the same car). Credit cards are paid off every month and used only for business. I contribute 20% of my paycheck to 401k
I'm now playing the highest NL poker stakes available at the local casino just because I have it (and I have the delusion I'm good enough) and taking a random vacations to weird places like Azores and Russia just because I have nothing better to spend on.
Not sure, just seems like money could be better spent. Or maybe I'm crazy and this is the life I should continue to enjoy. I dunno. Perhaps its a biological clock/psychological issue involved. I have way too much of my money doing nothing. Maybe I'll just start an animal shelter.
Appreciate the advice.