Reply to Is this crazy? (Staying in starter home)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I live in a tiny (tiny!) home: five of us.  It’s in a fantastic neighborhood and we’d be very stretched to buy a house that we’d like to buy in the neighborhood.  We’ve talked about buying a bigger house but I realize that will come with a lot of costs, and I’m considering just staying in our small house.  Is this crazy?

Our mortgage is $1600/month, and it’s a 2 bd/1 ba, 1100 square feet.  DH and I sleep in the barely converted garage.  We make over $300k HHI but have a lot of debt/obligations.  We’d have the added benefit of being rural when our kids apply to college (they are 10, 8, and 3).

I frequently say I wish we had a bigger place but the house is really cute. Over time we could properly convert the garage, update the kitchen, maybe add a bathroom - I don’t know.  But the idea of having to save a huge down payment/take on a larger mortgage while also saving for retirement/kids college/paying student loans is unappealing.

Thoughts? Is this insane?[/quote]

You are making $300k and your family of 5 shares 1 bathroom in a tiny 2bd house, and you sleep in the garage?

That sounds like a miserable way to live at that income.

Omg. The American dream is really dead  when a family making $300k has to be reduced to living like this. [/quote]

300k is two GS-13s with a few years of service and student loan debt. hardly a secure financial position in this area. [/quote]

Then this area is f*cked up. Don’t you think so? If that’s how a family making 300k is living, how would the average family live on 150k? That’s crazy. 
No surprise this country was so desperate for changes that it elected a con-artist.
[/quote]

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