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[quote=Anonymous]DD8 has been going to friends houses and many live in very nice houses. We live in an inner suburb with primarily older houses, but she is in an activity where most of her friends live in the exurbs where there are mainly new builds. She goes over to their houses and has started saying she wished we lived in a nicer house like that. Happened again last night.

The spread between what our house would sell for and what theirs would sell for isn’t as astronomical as I’m sure she thinks. We are just in a far more desirable and practical location, making our modest home more desirable.

We bought our house in 2009 for cheap and have re-fi’d a couple times into 2.5% interest rate. Our house would sell for more than double we bought it for, but it’s such a great place to be in to have a small mortgage payment and we will have no payment before she goes to college. It’s financial freedom.

Last night when she said she wished we lived in a nicer house like that, she said she knows we can’t afford it. However, we very much could and then some. We may about $500k a year. The approach I’m taking with DD is very practical to explain why we stay … we have no debt, we can pay for college for her, we can pay for her crazy expensive activity, we can retire earlier, she won’t ever need to help us financially when we are older, etc. Is this too much info for an 8 year old? Would you explain it a different way? She’s pretty mature, so I’ve taken to just telling her how it is with a lot of things recently. [/quote]

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