Reply to Overpaying on a house - how are you justifying it?

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[quote=Anonymous]We paid more than we thought would be "fair market", because we wanted a specific lot in a specific community and have no plans to move anytime soon.  Consequently we are not bothered by the possibility that future price appreciation may result in an eventual sales price which nets us a little less than we might realize had we paid a little less from the outset.  Meanwhile, we have the house we want, in the location we wanted, and we'll participate in the overall market trend for houses like ours, where ours is.  We may make a little money over time, or a lot, but given that good well-maintained homes in good locations always increase in value over long enough periods of time we're unworried about actually losing money at the end of the day.  And, if we do lose money, so what.  Our home equity is only a small part of our net worth, not our entire nest egg.  We wouldn't be happy if we sold for less than we paid, but it wouldn't break us, either, and meanwhile we're living where we want to - the house is a place to live, not an investment, even though it may rise or fall in price.

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