The Motley Fool Discussion Boards
Personal Finances / Buying or Selling a Home
|Subject: Re: Homes & School Districts||Date: 3/18/2004 3:05 PM|
|Author: CCSand||Number: 67493 of 126647|
The best strategy is to go for the best neighborhood you can afford.
If you don't need a 4-5 BRM house, don't buy one.
Go for the smaller house in the better neighborhood.
I disagree that this is the best strategy.
Buying the best house in the best neighborhood means that I need to work for the next 20 years to pay off the mortgage to send my child to a public school that may or may not be a good school by the time he gets around to going to school - which will not be for several years yet.
OTOH, We could:
1. Buy a 5 BR/3BA home in a more rural area that is a bit farther away from work;
2. Our equity could mostly pay it off so that we would have little to no mortgage, and if there is a mortgage we could manage to have it paid off by the time Hubby is 70; and
3. I could quit work and be a full-time mom;
4. We could adopt another child; and
5. Send them both to private school and/or homeschool them.
I've got to work on the finances of this a bit more closely, but you get the general idea.
There's a lot more advantage for me being home for my kid(s) than there is in my working until 9pm at night.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|