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Originally Posted by DaFace
I don't think there's any formal boundaries on the thread. Similar to you, my wife and I are toying with the idea of buying a cabin in the woods. We could technically afford it, but there wouldn't be a ton of wiggle room (beyond our normal savings, investments, and other spending), so I'm guessing we'll end up holding off for now. That said, we're still just in our late 30s, so hopefully we can save a little more to do it in the near-ish future.
I do find it challenging to figure out how to view it in terms of an "investment." On the one hand, most of my net worth today can be attributed to appreciation on my house, but on the other, it's impossible to know how things will shift in the future. In addition, there are a ton of other costs to consider (taxes, utilities, HOA fees, etc.) that are a pretty significant drag on the amount you can expect to make off of it.
In short, I have no answers, but if you come up with any brilliant ways of thinking about it, let me know.
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We’ve been looking on Redfin but the HOA dues on a condo are insane. They can be upwards of $500/ month on top of the mortgage. We’re looking in Seattle, so the competition is fierce. I love the cabin in the woods idea. We toyed with getting a vacation style property but the appreciation just isn’t the same.
We’re in the same position where our net worth is all in our house but it’s appreciating at 40% yoy. It’s the best investment around.