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Reply to "Would buying an expensive house be a bad choice?"
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[quote=Anonymous]Is that going to be forever home? Or just for the next 20 15-20 years til kids are out of the house? What about a million dollar or 1.2 mil newer home? Use equity and get a loan. Don't touch the $600k. And yes, how did you build the equity and $600k? Are you frugal? (Hard to tell since the next house is a want not a need). If you don't buy a new house you will have more money by retirement and no need to downgrade when kids leave. If you do buy it, you get to live in a nicer house but will probably have a lot less saved by retirement and less to leave the kids. Nicer house or more money? Your call. You can afford the house though.[/quote]
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