Is it worth spending more money than you should on housing to live in a nice place?

Question

I'd have a great place to live but I'd have to significantly cut back on spending (going out and traveling)...is it worth it?

I'd be renting a great apartment but I'd have to cut back on spending (nightlife and travel)...is it worth it?

Answer 1

It depends on if you're buying or renting. If you are just thinking about renting a nicer place, then it probably isn't worth giving up travel and a night life for. If you want to BUY a nicer house, then it's probably worth it in the long run.

Answer 2

possibly not in todays market - what if housing prices keep going down. I've been in my house in the Phila suburbs for 18 months, paid down the mortgage $2000 and I'm betting the house is worth less than I bought it for

Answer 3

It's definitely worth it if you have children. Higher priced home = More taxes to the local schools. Just make sure you are moving where all of the housing is nicer.

Answer 4

Depends on your priorities. Are you willing to stay at home and enjoy the 'luxury' of your fancy digs instead of travelling and dining out ?

The choice is yours to make.

Answer 5

Probably not, You'll be living for housing payments and then you'll end up hating that nice neighborhood because you can't afford to do anything else.

Answer 6

In todays market, if buying......why would you pay more? 25-35% less than asking price is what I'd be looking for............

Answer 7

housing is a necessity!........its your safe heaven!!.....your protection from the world .....compromise a little, but not alot!!.....and remember......Your worth it!!