Reply to moral/ethical dilemma regarding trust fund spending

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You want to borrow a million dollars from a trust fund for a house? I mean it's your money but I don't see why you need such a big house, and all paid for in cash. [/quote]

No, perhaps I wasn't clear.  The list price of the houses we would be looking at would be $1 mil, we would not have to borrow anything close to that to make a down payment that help our mortgage be similar to what it is now.  More like $100k-$200k.

To the pp who suggested looking at lesser houses, when we bought our house 5 years ago, we looked at what we could afford in arlington and mclean, and felt we had to compromise too much on things that were dealbreakers for us.  I don't know if that has changed much (I don't think prices have dropped much over the past few years), but I agree that I would rather deal with smaller rooms/crappier kitchen/etc to have DH be 20 min from his office..[b].problem is, a lot of homes, even at the $1 mil mark (at least right now), already HAVE those inconveniences...[/b][/quote]

OK seriously, if you think a million bucks is the starting point for a decent house your standards are extremely high.  There is a lot of hype about the high prices in this area, but as someone who home-searched EXHAUSTIVELY for over a year in N. Arlington/Falls Church/McLean I can assure you that you can get a perfectly nice home, with a perfectly decent kitchen and perfectly good-sized rooms, for well under a million dollars in North Arlington.  Are you going to have an enormous top-of-the-line gourmet kitchen with seven bedrooms and a tennis court?  No.  But  if you are patient and knowledgeable and ready to pounce when the right thing comes up, you can certainly get a very nice-sized 4 bedroom, 2.5 or 3 bathroom house with an updated kitchen in a great neighborhood with great schools in North Arlington for $800-850K.  Yes, that's still expensive.  But if you're saying you would only need to borrow $100-200K from the trust to afford a house starting at a million, that means you can afford $800K on your own.  If you're holding out for a fancy McMansion, more power to you, but if you NEED that in order to be happy, something tells me you're not going to be very happy anywhere.[/quote]

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