Divorced with no kids but would like a nicer house and car during hometime?

This is a stupid ### thread. He prob lives with his parents.

 

Don't be afraid of missing out on interest rates as most of your payment for the first 7 years on just a 3% mortgage is interest. Save that money you'd have to spend on the nicer house until you find a gig that has you home more and you'll be much better off. It sounds like a Financial Planner would be beneficial for you.

 

Skip the planner and his/her fees and the high fees of most mutual funds, they will drain you. Get setup with Vanguard, they're all you'll ever need, with the lowest fees and investor owned (you). They are the "credit union" of mutual funds.

 

Yes, there are definitely exceptions. The longer you've lived in the home, the lower your mortgage payments compared to today's rental prices. I don't believe NW Arkansas was a hotbed for real estate speculation compared to FL, CA, NV and other places, so you didn't encounter the drastic drop in property values that much of the country experienced. I would say your situation is more of the exception than the rule. Fortunately you made some good decisions.

 

Well I'll throw in my 2 cents since I have had it both ways. I had the big house with a big mortgage and the nice car & PU truck. Went home about 3 or 4 days every other month. I started to hate my house more and more. I felt all I was working for was to pay a mortgage, pay someone to take care of the house, pay someone to keep up the landscaping. And don't fall for the friend who will take care of all that while they live in your house. It does not work. You really will start to resent paying for all the stuff you only enjoy a couple days every now and then.
So, I sold the house and car and watched and waited for the right forclosure. I found it. 13 acres in the country, 4 BR, 2 Bath house. Paid cash and living the laid back lifestyle. Now I can afford to be home 3 to 4 days every other week. Got enough land to pull the whole truck and trailer home with me. Got enough cash to go out with my friends and pick up the tab every now and then. And, I find it amusing when I think of the interest they are paying to the bank every month on their big house and fancy cars.
Point is, if you can pay cash for it, then go for it. If you can't then you too, will be a slave to your job just so you can give the bank all that interest money.

 

Look, it's your money. If you want it, and can afford it, buy it. Would I do it? No. But I'm not you, and it's not my money. You can spend your money on whatever you want to, and who cares if someone else thinks it's silly?

 

Nothing wrong with wanting nice things but I get the impression you've got a 'keeping up with the Jones' type thing going on here. Or else you're not planning on driving much longer and thus will be able to enjoy that stuff more frequently.