Mr. Boom and I are very conservative when it comes to spending money.
We camp instead of renting hotel rooms, we buy generic tinned food, we drive our vehicles until they're just about dead, we wear t-shirts and jeans, we don't eat out much, and we live in houses that are less than we can afford.
The latter provides me with such a sense of security. Our mortgage could be paid with either of our incomes alone. In fact, all our bills could be paid with one income alone. I like that. That, my friends, is true financial security.
But there's this house, you see. We're looking at it. It's in the country on two acres with a creek and woods and gardens and a hot tub. There might even be a masterbath...
There's a separate kitchen--something I've always wanted for putting up canned goods, making beer, making soap--that would be so nice to use when I don't want the temperature in the house raised about a buhzillion degrees.
But this house, this land, is literally and figuratively expensive. I'm pretty sure we'd more than qualify for a loan, although it will increase our mortgage payment drastically. But the hidden expense, the more dear expense, is the loss of the safety net.
I'm scared to go out on that limb without a safety net....
We'll see what happens. I'll keep you posted.
Oh, BTW, my hand finally healed up enough for me to finish the face cloth for the give-away.
I think it turned out okay. Hopefully, Pollinatrix will think so, too!
Yay! I love your face cloth! And here's the funny thing: Just last night, I was taking a bath and cleaning my face with one of my three-year-old's little cloths, and thinking about how most people call them "wash cloths," and how much better I like the phrase "face cloth." It's just got this delicate, gentle feel to it, and makes me feel more appreciative of my face to have a special cloth just for it.
ReplyDeleteAnyhoo. I can't at all relate to your safety net fears I'm afraid, as I've lived as a financial daredevil my entire life. So I may not be the best advice giver, but I say go for it. A creek and woods are so worth a little insecurity.
I'm very glad to hear that your hand is healing. Don't get ahead of yourself and overdo it! Geez, I'm just full of advice today, aren't I?
Hmm. I liked the "house that is less than we can afford" approach myself. But from what I read, you're supposed to go for the other one so we can get this economy moving again, so think of it as taking one for the country.
ReplyDeleteOh boy that IS a big decision. You guys seem like the types to really get a lot out of a place like that. And, you know, you'd be investing in your own quality of life. Our mortgage has been pretty affordable, too, but we've always lamented how small it is... so we are talking to contractors about the cost of an addition, and I think we're going to go for it. Good luck!
ReplyDeleteI meant how small the house is, not the mortgage. :-)
ReplyDeleteI get what you are saying and I admire that you are both cautious with your money (something I've come to only since I left my old life and wasband behind). I don't want to try and give advice but I will say that buying property almost always seems like a good investment. It's not like you are going out and buying a total luxury item like a new car that will depreciate the second you drive it off the lot.
ReplyDeleteI guess I'd be asking myself
A. How long do I want to be working at my current job or be tied to a job that will provide the necessary income?
2. Is having this place (and all the space/resources to do more of what you love to do) worth being tied to the aforesaid job(s)?
I love all your comments and advice. As it turns out, there was a reason this place had no pics of the interior posted on the interwebs! Totally unlivable (fire-damaged, to start!) at exorbitant cost.
ReplyDeleteAnd yet, I keep thinking about that large sunny kitchen area with the view of the trees and the creek and the glass sliding doors to wrap-around deck...