Is it better to be satisfied with less (and little or no debt), or better to be in fashion, and borrow money to own bigger and better possessions?
2006-08-09 01:32:31 · 8 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture
006, I meant if you could afford a larger mortgage, would you choose it, or take a smaller mortgage on a small home, which could be paid off more quickly. Once a person is mortgage-free, they have a lot more options in their life, such as earlier retirement, more security, etc, (as a trade-off for having fewer and smaller possessions).
2006-08-09 01:59:34 · update #1
Im easily satisfied, and like being simple- although I could afford a mortgage, you never know what could happen. Its nice to have something paid for, its one less worry.
2006-08-09 05:40:46 · answer #1 · answered by rantfactory 2 · 10⤊ 0⤋
You neglected to say whether we could afford said mortgage, how much of our total income the higher mortgage would take up...
If I have to pay 40k per year mortgage, and I make 60k, that's no good.
If I make 400k, no problem. It's very relative. Plus, some people can handle debt psychologically, and some people can't handle being in debt at all and so never borrow anything regardless of how much of their total income it represents.
2006-08-09 08:42:24 · answer #2 · answered by 006 6 · 1⤊ 0⤋
If I could do it, I'd prefer the smaller and simpler...except I still want my nice kitchen and bath! We have been trying to declutter and simplify, and we try hard not to overschedule ourselves, but it's a real effort to not get caught up in the activity and materialistic craze.
Give me a 1500 square foot ranch house with a little land and trees, a little elbow room from my neighbors, and I'd much prefer that to the more common 3000 sq ft houses lined up corner to corner.
2006-08-09 08:40:38 · answer #3 · answered by newbie 4 · 1⤊ 0⤋
Only foolish pride would drive one to desire "bigger, better, fancier" material possessions, when one could make do with more modest belongings--and be debt-free.
2006-08-09 08:43:59 · answer #4 · answered by mrearly2 4 · 1⤊ 0⤋
Another option is to buy a second house and rent it. Risks are lower and you build equity.
2006-08-09 09:22:12 · answer #5 · answered by roy_s_jones 6 · 0⤊ 0⤋
small house that is paid for--I grew up with three sisters. I'm used to waiting for things that I need, much less, want.
2006-08-09 08:37:51 · answer #6 · answered by thisisraya 3 · 1⤊ 0⤋
One should count his blessings accoding to what they have received already, instead of being greedy and trying tolive beyond their means.
2006-08-09 08:38:26 · answer #7 · answered by WC 7 · 1⤊ 0⤋
smaller
2006-08-09 08:42:01 · answer #8 · answered by inquiring minds want to know 3 · 1⤊ 0⤋