Getting advice for current home and future home


#22

Ignore your wife. Buy the place that makes the most sense in terms of appreciation, dont keep your search long. Dont depeat the mistakes i did.


#23

Yes. Luckily now my wife prefer home with yard! I think she is okay with
the home has stucco outside, not wood.

Also my agent said buy old home at very good location and rent it out, you stay current home for couples of years. When you kid about to going school, build brand new home and move in. But good location home is very expensive and cannot make positive cash flow.


#24

This is exactly our current home. I just like giant rice rolls and cut to make 10 homes…


#25

This is very easy to fix. Easily change vinyl to stucco while you are living in the house. The reason I said is if you look for older house with Stucco exterior, you are going to limit a lot of your choices.


#26

That is good information. Thanks!


#27

Homes in good locations will always be expensive relative to other homes in worse locations. Here’s a very textbook answer: they also withstand the drop better in a buyer’s market.


#28

Ignore your wife and see how long you stay married.


#29

Wrong. It’s nothing to do with happines in this case. It’s about understanding what’s important and what’s not. Not everyone thinks about the same things, my wife doesn’t think much about financial stuff, i tend to take care of it. Now she acknowledges that we should have looked other places and not fixated on one place for over a year, it’s natural


#30

So you ignored your wife and reached financial nirvana. How nice. Everyone take a lesson from @tomato :smile:


#31

The only words your wife wants to hear is “Yes, dear"


#32

@tomato is not a “wife slave” like you.


#33

I am, happy wife, happy life, but when it comes to “missing opportunities” i am learning one thing or two :slight_smile:


#34

Never take advice from people wearing boxer shorts. :wink:


#35

This seems to be a recurring theme on this forum.


#36

Lots of male chauvinism on the forum. :roll_eyes:


#37

Men care more about money, women care more about quality of life. Since money is the means and life is the goal, you need to figure out which one goes first


#38

Well, it is an application of an economics concept called comparative advantage. In your marriage, each person should do the activity(ies) that they are relatively better at doing than the other partner since the union as a whole will benefit the most. My wife may be reasonably good at saving money but I am better at managing our money and investing it. She has no interest in doing any of it, so I do it since I also am more interested and thus probably more inclined to try and learn more or seek answers on my own.

On the other hand, it would be downright stupid (and we would starve to death) if I am the chef of the house…


#39

Boy, if you are better at that, then your wife must be really really clueless… :grin:


#40

I don’t need econ lessons from people who use financial advisers :expressionless:

Also why are you obsessed with screen captures lately?


#41

If bold high-lighted is your choice, you may not break even rent, esp when you pay 1.5M or more. Most cities allow max 0.45% and you need 8k to 10k lot to expand. I really doubt that you will be able to get any 8k+ or 10k lots less than 1.5M as of now. The $/sqft to build runs between $350-$400 and tough to get builders.

IMO, buy a home where you can move-in, stay for few years and then rebuild once you have sufficient cash.