Originally Posted by
BoilerUP
I currently live in the Washington metro part of Maryland, about 50 miles from DCA. The median home around my neighborhood (a very nice, very safe neighborhood that is about 12 years old) goes for $450k...and is 4 bed, 2.5 bath, 3200 square feet two story traditional on a .18 acre lot.
If that is your vision of the American Dream, so be it....but don't crap on me because its not mine. The rent for our 1 bedroom, 1 bath apartment is about $150/mo more than the payment I would have had if I had bought a 4 year old 3bd/2ba 1400 sq ft ranch in Indianapolis last spring. Additionally, I have no desire whatsoever to live in a location where the annual property tax on a median home would be greater than the yearly mortgage payment on a median home in a cheaper location. If that cheaper location is in "flyover country", so be it.
Everybody wants to make a ton of money, I am no exception...but if I ever need to make $100k just to meet my basic needs then I know I will have failed as a provider for my family.
Devils Advocate:
What if you had 3 children? One bedroom might not be enough, so expect housing costs to increase. With 3 kids, you could see all 3 in college in the same brief expensive time period. At age 60 (or 65) you are done...how is your retirement plan? Anyway, some things to consider.
Not picking on you, just raising some points.