Comments on: 2 Compelling Reasons To Buy The Most Expensive House In Your Neighborhood http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html Personal finance topics including budgeting, debt elimination and faith based investing. Fri, 30 Jul 2010 04:06:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Marty http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-20718 Marty Sun, 20 Jun 2010 02:47:53 +0000 http://www.biblemoneymatters.com/?p=4096#comment-20718 Please, please, please--someone give me a silver lining! Right before the housing bubble burst, we fell so madly in love with a house we blindly rushed into it. Every day since then, we've driven through our neighborhood and are weighed down with remorse. We own the most expensive house in the subdivision. We had it on the market all last year without a single bite. Now living in our dream house is overcast w/ a constant feeling of doom. Has anyone else gone through this...and survived? Any advice? Any relief?! Please, please, please–someone give me a silver lining!

Right before the housing bubble burst, we fell so madly in love with a house we blindly rushed into it. Every day since then, we’ve driven through our neighborhood and are weighed down with remorse. We own the most expensive house in the subdivision. We had it on the market all last year without a single bite. Now living in our dream house is overcast w/ a constant feeling of doom.

Has anyone else gone through this…and survived? Any advice? Any relief?!

]]> By: Tom http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-16759 Tom Thu, 25 Mar 2010 14:18:13 +0000 http://www.biblemoneymatters.com/?p=4096#comment-16759 This was an interesting idea, keeping down with the joneses, but here are two thoughts. Someone in my neighborhood bought a house about 2 months after I did. This house probably is nicer than mine, he paid $30,000 more for it. There might be a little more square footage, but the layout is basically the same. Probably an extra $120 in P&I, maybe more in taxes and insurance, and other carrying costs. That's a consideration. Thought #2, just because you're in a cheap neighborhood doesn't mean your neighbors aren't materialistic in other ways. You'll still see their cars and their trash and the delivery men. You could feel some pressure from their consumerism in other areas besides curb appeal. This was an interesting idea, keeping down with the joneses, but here are two thoughts.
Someone in my neighborhood bought a house about 2 months after I did. This house probably is nicer than mine, he paid $30,000 more for it. There might be a little more square footage, but the layout is basically the same. Probably an extra $120 in P&I, maybe more in taxes and insurance, and other carrying costs. That’s a consideration.
Thought #2, just because you’re in a cheap neighborhood doesn’t mean your neighbors aren’t materialistic in other ways. You’ll still see their cars and their trash and the delivery men. You could feel some pressure from their consumerism in other areas besides curb appeal.

]]> By: KSM http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-12127 KSM Fri, 04 Dec 2009 20:40:04 +0000 http://www.biblemoneymatters.com/?p=4096#comment-12127 My husband and I have always had one of the smallest homes on the "street". And we've always lived on very nice streets - we do so purposefully. We get to enjoy a very nice environment with good location and good stores - usually the neighbors are very nice and are people we have a lot in common with. We've never had a problem keeping up with the Jones' cause we realize, we're not as rich as the Jones' (actually we probably are as rich as they are because we spend wisely). But we don't get distracted by the things they have. This has paid dividends since we've had to move and have been able to sell these homes rapidly. Most recently we moved last December - our old home didn't sell til May, but it sold, which is more than many people can say. It sold because it was a cute house in a desirable location and neighborhood (and we actually made money). If you have the biggest home on the street you may not be able to unload it as quickly and the price of the other homes will likely drive yours down, especially if anyone nearby is being foreclosed. Of course if you plan to stay put for a generation then you should be fine, but sometimes the unexpected happens and you have to unload your home quicker than you think. But the most important aspect is to buy a home you can afford - whether its the largest or the smallest on the street. My husband and I have always had one of the smallest homes on the “street”. And we’ve always lived on very nice streets – we do so purposefully. We get to enjoy a very nice environment with good location and good stores – usually the neighbors are very nice and are people we have a lot in common with. We’ve never had a problem keeping up with the Jones’ cause we realize, we’re not as rich as the Jones’ (actually we probably are as rich as they are because we spend wisely). But we don’t get distracted by the things they have. This has paid dividends since we’ve had to move and have been able to sell these homes rapidly. Most recently we moved last December – our old home didn’t sell til May, but it sold, which is more than many people can say. It sold because it was a cute house in a desirable location and neighborhood (and we actually made money). If you have the biggest home on the street you may not be able to unload it as quickly and the price of the other homes will likely drive yours down, especially if anyone nearby is being foreclosed. Of course if you plan to stay put for a generation then you should be fine, but sometimes the unexpected happens and you have to unload your home quicker than you think. But the most important aspect is to buy a home you can afford – whether its the largest or the smallest on the street.

]]> By: Twitted by nimblewords http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-12001 Twitted by nimblewords Wed, 02 Dec 2009 06:12:13 +0000 http://www.biblemoneymatters.com/?p=4096#comment-12001 [...] This post was Twitted by nimblewords [...] [...] This post was Twitted by nimblewords [...]

]]> By: The Financial Blogger » Blog Archive » Festival of Frugality – My Best Purchases’ Edition http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-11564 The Financial Blogger » Blog Archive » Festival of Frugality – My Best Purchases’ Edition Tue, 24 Nov 2009 09:59:50 +0000 http://www.biblemoneymatters.com/?p=4096#comment-11564 [...] presents 2 Compelling Reasons To Buy The Most Expensive House In Your Neighborhood posted at Bible Money [...] [...] presents 2 Compelling Reasons To Buy The Most Expensive House In Your Neighborhood posted at Bible Money [...]

]]> By: Torrey http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-11215 Torrey Tue, 17 Nov 2009 17:36:51 +0000 http://www.biblemoneymatters.com/?p=4096#comment-11215 We actually are in the process of buying a home (closing 12-7) and we chose to buy the smallest, least expensive home in a really nice neighborhood. Not to make any financial statement one way or the other, but to get in a good neighborhood with great schools for my kids. I think we tend to overthink the process and worry too much about what others think. Take care of your own house and don't overextend yourself financially and you'll be fine. <span class="cluv">Torrey´s last post ..<a href="http://www.mensplaybook.com/money/program-allows-parents-to-catch-up-on-child-support-stronger/" rel="nofollow">Program Allows Parents to Catch Up on Child Support [Fair or Foul?]</a> </span> We actually are in the process of buying a home (closing 12-7) and we chose to buy the smallest, least expensive home in a really nice neighborhood. Not to make any financial statement one way or the other, but to get in a good neighborhood with great schools for my kids.

I think we tend to overthink the process and worry too much about what others think. Take care of your own house and don’t overextend yourself financially and you’ll be fine.
Torrey´s last post ..Program Allows Parents to Catch Up on Child Support [Fair or Foul?]

]]> By: Hank http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-11152 Hank Mon, 16 Nov 2009 01:19:08 +0000 http://www.biblemoneymatters.com/?p=4096#comment-11152 I live in a military community where the houses change owners every three years or so. I'm most worried about selling my house, and it is not easy to do so if I have the best house in the neighborhood. I live in a cookie cutter neighborhood where all the homes are the same, and the builder is still selling brand new homes. Buying a home at the top end of the spectrum or upgrading it with granite countertops, etc. is not worth it for me. I'll never sell a house at the top end when buyers can buy a brand new home in the middle. <span class="cluv">Hank´s last post ..<a href="http://feedproxy.google.com/~r/ownthedollar/~3/crDo5uZgkBU/" rel="nofollow">Protect Yourself From Style Drift In Your Mutual Funds</a> </span> I live in a military community where the houses change owners every three years or so. I’m most worried about selling my house, and it is not easy to do so if I have the best house in the neighborhood. I live in a cookie cutter neighborhood where all the homes are the same, and the builder is still selling brand new homes. Buying a home at the top end of the spectrum or upgrading it with granite countertops, etc. is not worth it for me. I’ll never sell a house at the top end when buyers can buy a brand new home in the middle.
Hank´s last post ..Protect Yourself From Style Drift In Your Mutual Funds

]]> By: Veteran’s Day Parade http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-11149 Veteran’s Day Parade Sun, 15 Nov 2009 23:32:24 +0000 http://www.biblemoneymatters.com/?p=4096#comment-11149 [...] Ford gives some reasons to consider buying near the top in his guest post for Bible Money Matters, “2 Compelling Reasons to Buy the Most Expensive House in Your Neighborhood” .  I will let you read my comments in the post and not [...] [...] Ford gives some reasons to consider buying near the top in his guest post for Bible Money Matters, “2 Compelling Reasons to Buy the Most Expensive House in Your Neighborhood” .  I will let you read my comments in the post and not [...]

]]> By: Craig Ford http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-10984 Craig Ford Thu, 12 Nov 2009 00:24:45 +0000 http://www.biblemoneymatters.com/?p=4096#comment-10984 @Becky - I think you are asking the right question - what is the goal? Obviously the goal will differ from person to person. My goal is to make my house into a home. My goal is not to be burdened or pressured by financial decisions. I don't want to compromize my finanical plan because someone else has certain expectations on what I do with my home or what I have in my home. Our family has made our decisions according to that goal. Everyone, however, has different goals. There are some neighborhoods that are downright expensive. If the Homeowners association requires you to water your yard 3 times a week and you are upside down in debt you will pay the cost to water your lawn while you dig deeper and deeper in debt. I think that was a poor financial decision for that person. I think it is dangerous when people eek into being able to afford a 'good/better/best' neighborhood. Then when these neighbors all decide they want to have the worlds largest Christmas light display, what are you going to do? Probably you'll go out and drop half a grand to put lights on your house. That kind of stuff is crazy. Personally I'd rather be in a simpler neighborhood without the contant pressure by the (apparently) wealth people around me. <span class="cluv">Craig Ford´s last post ..<a href="http://www.moneyhelpforchristians.com/money-unrelated-to-bible/" rel="nofollow">Are Some Money Topics Unrelated to the Bible?</a> </span> @Becky – I think you are asking the right question – what is the goal? Obviously the goal will differ from person to person. My goal is to make my house into a home. My goal is not to be burdened or pressured by financial decisions. I don’t want to compromize my finanical plan because someone else has certain expectations on what I do with my home or what I have in my home. Our family has made our decisions according to that goal. Everyone, however, has different goals.

There are some neighborhoods that are downright expensive. If the Homeowners association requires you to water your yard 3 times a week and you are upside down in debt you will pay the cost to water your lawn while you dig deeper and deeper in debt. I think that was a poor financial decision for that person.

I think it is dangerous when people eek into being able to afford a ‘good/better/best’ neighborhood. Then when these neighbors all decide they want to have the worlds largest Christmas light display, what are you going to do? Probably you’ll go out and drop half a grand to put lights on your house. That kind of stuff is crazy.
Personally I’d rather be in a simpler neighborhood without the contant pressure by the (apparently) wealth people around me.
Craig Ford´s last post ..Are Some Money Topics Unrelated to the Bible?

]]> By: carmen http://www.biblemoneymatters.com/2009/11/2-compelling-reasons-to-buy-the-most-expensive-house-in-your-neighborhood.html/comment-page-1#comment-10977 carmen Wed, 11 Nov 2009 20:48:11 +0000 http://www.biblemoneymatters.com/?p=4096#comment-10977 Very good, Peter. I love former President Bush's mansion. In fact, if I could afford a mansion I would buy one without hesitation; once again, if I loved the house, my family loved it, the schools nearby, all the thing that make a mansion! a home. Not the biggest, baddest, most awesome mansion in the neighborhood. and that is all I have to say about this. I am sorry that this had to become so overblown. There were just certain words and phrases in this post that really rankled me and I apologize for letting it get to me. I really love the mansions-I have seen the Kennedy compound and love that too! Very good, Peter. I love former President Bush’s mansion. In fact, if I could afford a mansion I would buy one without hesitation; once again, if I loved the house, my family loved it, the schools nearby, all the thing that make a mansion! a home. Not the biggest, baddest, most awesome mansion in the neighborhood. and that is all I have to say about this. I am sorry that this had to become so overblown. There were just certain words and phrases in this post that really rankled me and I apologize for letting it get to me. I really love the mansions-I have seen the Kennedy compound and love that too!

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