Where to spend my money? First home. Buy an expensive Home?

[jjj999]

Hi I need some advice

 

I make great money for my age and I'm single. Home prices are really good around my area.

 

I'm stuck because I can afford a huge mortgage but I'm single and cannot decide where I should spend my money. Plus I have no idea what I'm looking for in a home right now.

 

Any thoughts would be great!

I'm currently debating... buy an nice expensive place to live like a young wealthy bachelor, buy a cheap house and live like a broke 20 something, travel, invest, help out some family, save for my dream home... really no idea. Where would you spend the money?

 

Also, any good ideas or thoughts on a condo, house, etc?

 

I ll probably be making quite a bit more money in 5-10 years . I've always been really good with my money but I'm only young once and living so stingy may be starting to really get to me. Money definitely isn't everything to me...

[90_hour_sleep]

this'll sound cliche as ...but follow your heart, my friend. what feels right to you? if it feels right...don't think about it. just go with it. not the easiest thing to accomplish in life. i'm no expert by any means. but i think the more rooted you are in following your own intuition, the more fullfiled you will feel. if your convictions are founded in integrity...your intution will never lead you astray. tune into it. let it guide you.

[hers]

I've always said I'd rather have a modest home with a big income so that I have more freedom to do what I'd like (traveling and such).

 

Only you can determine what's best for you in this one, but for me, I'd say go for cheaper house with more experiences and living.

[petite]

Happy medium. Don't buy a dump or a mansion. Go for something nice that you can afford and that will always allow you to have a bit of a security blanket left too.

[luminousone]

Here's a thought - buy a home in a neighborhood that you think you would like in 5 - 10 years, and then rent it out. Learn the rental laws in your state and join your local rental landlord association. Then also buy a condo in an area where there will be others like you - single, young, etc. and move into that place now. That way you have taken advantage of the good housing prices right now, and yet you are not making yourself go live near others who are at a different stage of life as you. If and when you are ready for the house, you can always move in there and rent out the condo. Otherwise you have an extra bit of income...

[maalox]

I don't know where you are, but I've done the big houses. At this point in my life I can say for sure I wish I went way more modest and held back some fun tickets, so I can live in Florida for the winter and New England in the summer. I'm trying to do this now and my northern house is way too much house. Don't want it. Can't sell it. Its just a mill stone around my neck.