Would you buy a home in neighborhood where neighbors make a lot more than you?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
We are considering buying a home in an affluent neighborhood that has great schools, good commute for husband, nice area, family friendly, etc. We like the home but it needs considerable updating (everything is functional, liveable just outdated) and we wouldn't be able to afford to do it for awhile. (I'm an at-home mom who will not be returning to work for a couple more yrs.) The houses in the neighborhood include upper 800s to million+ homes. We would be stretching to buy this house that is considerably less. I know this seems very jr. high school-ish but I'm concerned that we wont "fit in," wouldn't have as much in common, dress "right", etc. and that it might be uncomfortable for our children who would might be picked on or feel out of place for not being able to do/afford/have what the other kids in the neighborhood do. (My children are under 5 right now, so that is in the future.) Thoughts? |
Anonymous
| No. I like to do the opposite and it removes the whole keeping up with the jones. |
Anonymous
| I wouldn't do it. |
Anonymous
| Depends. I would hesitate moving to a neighborhood where most of the homes were 1.2 million+ for the reasons you cite. In such a neighborhood, a 700k home would be priced as a tear down, and i wouldnt buy the tear down and try to actually live there. If however, there was truly a mix of price ranges, i would do it certainly for the good neighborhood and good schools. |
VArealtor
Member Offline
Member Offline
| I'd worry less about the social implications of living there and more about stretching your finances in order to afford it while relying on one salary. That is the more important issue here. |
Anonymous
|
Sure. I judge people on how kind they are, their sense of humor and their smarts. Not on how fancy their house is.
As someone well off, if you moved into the most run-down house in my area, as long as you kept it clean I wouldn't blink at all and certainly wouldn't think less of you. (Not to sound like your mother, but anyone who would think less of you isn't worth your friendship or time.) |
Anonymous
+1 |
Anonymous
| We are the "poor folk" in our neighborhood. I have only met one snobby family. I personally think that if you are nice and genuine then you will find similar people. If the house and neighborhood are right for you then I'd give it a shot! |
Anonymous
| You are assuming people paid that much for their homes. If it's a stable neighborhood with long time residents many probably paid much less and may be no different than you. I wouldn't sweat it. |
Anonymous
| We live in a similar neighborhood. There are some very old people and some older middle aged people that bought many years ago and don't seem super rich. There are a wide variety of people, some of whom we don't really know. I wouldn't worry about it. |
Anonymous
| How do you even know how much the neighbors make? |
Anonymous
| Go for it if you can afford it. You'll get the house up to par over time, and your home will be worth more in the end for being in a great neighborhood with a great school. Location, location, location! I wouldn't want the best house on a bad street, myself. |
Anonymous
| ^^Also, around here, that isn't even "rich" by DC standards, so people shouldn't be too snobby. (Not that they should be anywhere, but you know what I mean.) |
Anonymous
+1 See thread of where money came from. Many people just bought before boom. |
Anonymous
|
This has disaster written all over it. You're insecure and are worried about what the neighbors think. You'll probably henpeck your husband at holiday parties for saying the "wrong" thing and expressing your embarrassment over something that he does. That will stress him out. But he'll already be stressed out because you bought beyond your means and you constantly nagging him to make your house better, "just like the Jones!" He'll have to listen to you whine because you can't afford the same furniture that the neighbors have or go on the same vacations. See the problem won't be the neighbors. It will be you.
Divorce in 5 years. |