Thanks Jacob and Jennypenny. That helps.
I'm at a crossroads really.
Some background: I managed to retire in my 20s; I'm 42 now (yes, it's true, I'm also over 40!...but feeling 12). When I was a kid I never understood why people worked hard, saved hard, and never spent it. For the first 6 years of my life, I actually thought my dad paid his boss for the privilege of working. He was actually quietly saving it for his family. So as soon as I made some money, I spent it on toys and fun (ie. fast cars/motorcycles/bicycles/surfboards and far places). After a spending glut that must've lasted ten years, I got tired of "stuff." ERE felt really good to read. So now I have no cars, no fancy clothes, no mobile, no gadgets, no TV, and more time and money than I need. The only thing I own is a bicycle, some clothes, and several properties around the world (I'm not kidding). I'm in the process of selling the properties. I don't have the stomach to give it all away so I'm at this crossroads.
Here's the question:
I want to settle down. Most of the people I speak to either have too much money and are where I was at when I was spending like crazy. So I can't relate. Or they are on a budget.
The question is, if you were in my shoes, and were about to finish selling all your properties, would you design and build a small house somewhere and travel on trips from there or would you rent something cheap and save the money? Building a new place will not entail a mortgage and will have almost zero running costs (cheap Mediterranean location). I have 3 kids and a wonderful wife and my favorite thing is being with them. If they weren't with me, I would probably be Heinz Stucke.
So what would you do? Design and build or rent and save? I am leaning towards the former so please provide a good reason for the latter (ie. save for what?).