What would you do -- houses, schools, commute, mortgage, retirement?

[Anonymous]

Anonymous wrote:Rent someplace you like and rent out your current home to offset the difference in costs; then in 6 years you can move back to your paid off home

I would do this also.

[Anonymous]

Wow, so you stay at home and just want to save more money at the expense of a really long commute for your husband and your children's education? Sounds like you want to make sure you like the neighborhood since you're home all day and that you aren't thinking about the rest of the family. Having a mortgage of 100k at your income isn't a big deal and you should be able to pay it off quickly maybe - gasp - princess you should get a job and help to do that.

[Anonymous]

OP here -- it would be 8 yrs until DC 2 is out of hs. And DH would then be forced back to the long commute when he is 63 yrs old. (if we rented in a better school zone with closer commute while renting out our current house). That doesn't seem like a good plan for the long term.

[Anonymous]

OP, you can do either of the three. A 100k or 150k mortgage is nothing.

[Anonymous]

Anonymous wrote:Wow, so you stay at home and just want to save more money at the expense of a really long commute for your husband and your children's education? Sounds like you want to make sure you like the neighborhood since you're home all day and that you aren't thinking about the rest of the family. Having a mortgage of 100k at your income isn't a big deal and you should be able to pay it off quickly maybe - gasp - princess you should get a job and help to do that.

Yeah, right.... I'm the princess driving the 12.5 yr old sedan! Right! You have no idea what you are talking about and I'm not going to fill you in on reality.

Well, you are the reason they say "a fool and his money are soon parted." The "cost" is not simply a $100k mortgage. The cost of the Vienna move would be about $300K b/c we would be taking 160k from savings (that $5k per month has been adding up), and then getting $100k mortgage and then there is the cost of selling -- including commission, moving costs, real estate sales taxes, atty fees, etc. -- which is about $50k more. So we're taking about a cost of $310K to move into Vienna. That's money that's not available to pay for the kids' braces, replacement cars for either of us, therapy for the kid most likely to need it, etc. etc. And given that the stock market is low right now (buyer's market), it might be wiser to put that money in a fund and use it to pay for tutors. As it happens, I'm actually the one motivating us toward a move. I just don't know what is the smartest decision given all the factors involved. We are generally financially conservative and risk averse -- and that put us in a position where we have options!

[Anonymous]

I might be tempted to take a longer commute for better schools, but at the end of the day I think the shorter commute should trump everything else. Time as a family is priceless. If you can move to a shorter commute and better schools, I'd do it without looking back. I look at some neighborhoods I think would be a lot of fun to live in, but are in bad school districts, and feel wishful at times. But really, I can drive to those neighboroods for the ocassional park or brunch. I don't have to live there to enjoy all of the perks!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow, so you stay at home and just want to save more money at the expense of a really long commute for your husband and your children's education? Sounds like you want to make sure you like the neighborhood since you're home all day and that you aren't thinking about the rest of the family. Having a mortgage of 100k at your income isn't a big deal and you should be able to pay it off quickly maybe - gasp - princess you should get a job and help to do that.

Yeah, right.... I'm the princess driving the 12.5 yr old sedan! Right! You have no idea what you are talking about and I'm not going to fill you in on reality.

Well, you are the reason they say "a fool and his money are soon parted." The "cost" is not simply a $100k mortgage. The cost of the Vienna move would be about $300K b/c we would be taking 160k from savings (that $5k per month has been adding up), and then getting $100k mortgage and then there is the cost of selling -- including commission, moving costs, real estate sales taxes, atty fees, etc. -- which is about $50k more. So we're taking about a cost of $310K to move into Vienna. That's money that's not available to pay for the kids' braces, replacement cars for either of us, therapy for the kid most likely to need it, etc. etc. And given that the stock market is low right now (buyer's market), it might be wiser to put that money in a fund and use it to pay for tutors. As it happens, I'm actually the one motivating us toward a move. I just don't know what is the smartest decision given all the factors involved. We are generally financially conservative and risk averse -- and that put us in a position where we have options!

What is your current house worth?

[Anonymous]

Anonymous wrote:Rent someplace you like and rent out your current home to offset the difference in costs; then in 6 years you can move back to your paid off home

+1. Or homeschool

[Anonymous]

Personally, I would move to Vienna because I put a premium on good schools and a reasonable commute. Yes, you will pay more but the whole point of saving is so that you can have options like this to make you life better for all members of the family.

If you buy a decent house in Vienna it should hold its value so you can sell when retirement hits.

[Anonymous]

Your husband is already 55, you have no mortgage, and he's realistically thinking of working until he's 65 or 70??? Don't you have millions saved already for retirement? How much principal do you need invested to feel comfortable with retiring?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Most people choose where to live based on two things: schools and commute. I find it odd that you have essentially set those two critical things aside in favor of living life without a mortgage.

I think any of your options is better than killing your husband gradually with a crappy commute and ensuring your kids get a sub-par education.

We only recently became aware of concerns about the school quality -- particularly at the higher levels. We have lived in this area for 15+ years -- prior to marriage. At that time, it made sense for commute (which was at a metro-stop location for both of us). 8 yrs ago, DH's commute changed, but DH wasn't complaining and still doesn't want to be the reason for everyone to move. If it wasn't bothering him, it wasn't bothering me. But, with recent investigation on the schools, plus negative input from some (not all), we began looking at other options. I now see his commute as crazy and very detrimental. But my life is great here! And we don't feel financial pressure. In my head it makes sense to move, but then I think about the reality of moving and the stress that puts on everyone + the significant cost and I wonder if we should be trying to make it work. Will we really get a better education at a "god school"? Is it worth the cost (financially and in loss of easy life super close to amenities, less crowded area)?

Why don't you get a job and move to Vienna? Better schools, better commute and still keep saving.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow, so you stay at home and just want to save more money at the expense of a really long commute for your husband and your children's education? Sounds like you want to make sure you like the neighborhood since you're home all day and that you aren't thinking about the rest of the family. Having a mortgage of 100k at your income isn't a big deal and you should be able to pay it off quickly maybe - gasp - princess you should get a job and help to do that.

Yeah, right.... I'm the princess driving the 12.5 yr old sedan! Right! You have no idea what you are talking about and I'm not going to fill you in on reality.

Well, you are the reason they say "a fool and his money are soon parted." The "cost" is not simply a $100k mortgage. The cost of the Vienna move would be about $300K b/c we would be taking 160k from savings (that $5k per month has been adding up), and then getting $100k mortgage and then there is the cost of selling -- including commission, moving costs, real estate sales taxes, atty fees, etc. -- which is about $50k more. So we're taking about a cost of $310K to move into Vienna. That's money that's not available to pay for the kids' braces, replacement cars for either of us, therapy for the kid most likely to need it, etc. etc. And given that the stock market is low right now (buyer's market), it might be wiser to put that money in a fund and use it to pay for tutors. As it happens, I'm actually the one motivating us toward a move. I just don't know what is the smartest decision given all the factors involved. We are generally financially conservative and risk averse -- and that put us in a position where we have options!

How old are you? Your husband is 55 and you have two kids in elementary school????

[Anonymous]

Anonymous wrote:Personally, I would move to Vienna because I put a premium on good schools and a reasonable commute. Yes, you will pay more but the whole point of saving is so that you can have options like this to make you life better for all members of the family.

If you buy a decent house in Vienna it should hold its value so you can sell when retirement hits.

+1 That's exactly why we bought in Vienna, plus it's very kid oriented and has the W&OD trail for family time.

[Anonymous]

What location does your DH work in, that is 20 mins from Vienna, Chantilly AND Ashburn, assuming in peak traffic?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow, so you stay at home and just want to save more money at the expense of a really long commute for your husband and your children's education? Sounds like you want to make sure you like the neighborhood since you're home all day and that you aren't thinking about the rest of the family. Having a mortgage of 100k at your income isn't a big deal and you should be able to pay it off quickly maybe - gasp - princess you should get a job and help to do that.

Yeah, right.... I'm the princess driving the 12.5 yr old sedan! Right! You have no idea what you are talking about and I'm not going to fill you in on reality.

Well, you are the reason they say "a fool and his money are soon parted." The "cost" is not simply a $100k mortgage. The cost of the Vienna move would be about $300K b/c we would be taking 160k from savings (that $5k per month has been adding up), and then getting $100k mortgage and then there is the cost of selling -- including commission, moving costs, real estate sales taxes, atty fees, etc. -- which is about $50k more. So we're taking about a cost of $310K to move into Vienna. That's money that's not available to pay for the kids' braces, replacement cars for either of us, therapy for the kid most likely to need it, etc. etc. And given that the stock market is low right now (buyer's market), it might be wiser to put that money in a fund and use it to pay for tutors. As it happens, I'm actually the one motivating us toward a move. I just don't know what is the smartest decision given all the factors involved. We are generally financially conservative and risk averse -- and that put us in a position where we have options!

How old are you? Your husband is 55 and you have two kids in elementary school????

you never heard of a man fathering a child at 43 or 45?