Buying a house is falling out of fashion in the Financial Independence and Early Retirement community. Not “Green Polyester Leisure Suit” out of fashion, more “Cherry Cabinets and Ornamental Backsplash” out of fashion.
The oft-cited, and extensively researched, post on the matter is the awesome and amazing JCollinsNH’s “Rent v. Owning Your Home, opportunity cost and running some numbers.” If you haven’t read it, you should. Go ahead, I’ll wait.
I weighed in with my own “Should I rent or buy a house” post the other day, cribbed from the research and soul searching Mrs. Frugalwoods and I did during our house hunt in 2012.
Now back to the issue at hand. If Mrs. FW and I are so darn frugal, why do we own one of these wealth destroying monsters?
Location, Location, Location!
Location Bonus #1: Our house is 0.5 miles from MIT and 1 mile from Harvard University.
Continue reading Why Did We Buy Our House? at Frugalwoods.