I confess my ERE heresy
OK. I just bought a house for $250K. It's 1550 sq. ft. -- not a McMansion but not exactly a tiny house either.
I still intend to "retire" in 4 years, but my SWR just bumped back up from 3% to 4%. I spin this as controlling for inflation in my housing sector.
On the plus side, there is a half-finished in-law addition that can be developed into an income property and a huge pool of mild-mannered bible college students seeking rentals.
Am I cast out for my purchase?
I still intend to "retire" in 4 years, but my SWR just bumped back up from 3% to 4%. I spin this as controlling for inflation in my housing sector.
On the plus side, there is a half-finished in-law addition that can be developed into an income property and a huge pool of mild-mannered bible college students seeking rentals.
Am I cast out for my purchase?
I think there's some flexibility here. DW and I are on the mildly ER spectrum (I'm a full-blooded ERE type by nature but my marriage comes first), but that doesn't mean we can't post here. Our house is smaller than yours, but still definitely out of the tiny house range. Congrats on the purchase : D
@bulgaria
Still working. I haven't posted much recently, but forum denizens might recall that I relocated once again to a government job to spike my pension. My intention is to work for about three more years to effectively double my pension at age 55. There is an outside chance that within the year I'll be promoted to a position that would treble the pension. But that would reset the three-year clock. Fortunately, I am thoroughly enjoying my new job; so I have zero regrets about delaying ERE, at least at present.
Still working. I haven't posted much recently, but forum denizens might recall that I relocated once again to a government job to spike my pension. My intention is to work for about three more years to effectively double my pension at age 55. There is an outside chance that within the year I'll be promoted to a position that would treble the pension. But that would reset the three-year clock. Fortunately, I am thoroughly enjoying my new job; so I have zero regrets about delaying ERE, at least at present.
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DW and I bought a townhouse in that price ballpark so I can't throw stones. Frankly it's a big setback to ERE -- that much capital could support one ERE person --- so I consider us on an ER path vs. ERE. This was one area we just didn't want to scale back very much. I think as long as you make these kinds of decisions fully aware of the consequences and with open eyes, it's fine. You can still be "extreme" in other areas.
I cast thee out!!!
https://www.youtube.com/watch?v=XzDpQubfmpM
Actually seems cheap for CA, and adding the income property (that hopefully will require minimal permitting/inspection) sounds like it might be an excellent deal.
https://www.youtube.com/watch?v=XzDpQubfmpM
Actually seems cheap for CA, and adding the income property (that hopefully will require minimal permitting/inspection) sounds like it might be an excellent deal.
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For the record: the board rightly chastised me for wanting to buy a second house a few months ago. However, the profits from renting out my first home have already covered its maintenance/tax costs for 2013, and I could have rented it more to cover the costs of the second home if I'd wanted to.
If you can make your lifestyle inflation pay for itself, I say go for it.
If you can make your lifestyle inflation pay for itself, I say go for it.