HLS, I love the bar analogies. How much have I saved, hard question because my housing target keeps changing. 9 months ago I was somewhat serious about the little houses I linked and was looking at one listed for 350k, could get it today for under 250k so conservatively I’ve saved 100k in 6-9 months. But I also looked at them new 18-24 months ago and 425k was what I was looking at paying, so in two years, I’m 200k to the good, it’s like having another job. I would have been happy to pay 350k at the time if I could get something that mostly fit my needs.
But now that those are below my price range I’ve just started shopping and tracking places in a better location, truth be told I’d like to pay about 300k, maybe a little less depending on what it needs right away. In the end I’ll get far more for 300k than I would have gotten for 350k 6-9 months ago. The precise location I want still isn’t at my target price but it’s close, yet that bar opened later and only the daydrinkers are present (the bargains are on the worst lots or need massive repairs). The perfect ones are just about 50k away, so time will tell, but they are getting snapped up quickly when they appear so I am going to need another leg down to occur before they become commonplace. I have a feeling when the summer ends, things are going to take another 50-100k fall, then the real dillema will occurr, buy something more affordable than rent, buy the dream house for a price equal to rent after tax benefits are considered but still more than rent when considering gross monthly outlay, or continue to wait and get the dream house for less than rent. My current rent has me flush with more cash than I have ever had in my life and I am kinda getting used to it. It’s funny but my overall net worth is the lowest in 20 years, this is the first time I have not owned a single home and I am richer than I have ever been as far as my monthly balance sheet goes, funny how things work, less is more.
