Would you rather live in a *sweet* pad OR have more disposable income?
 

I know, I know, everyone on GFY is a millionaire. Some of us have to choose between one thing or another though...

Well I'm moving to a new city soon and have it narrowed down to a a few places. Basically I'm trying to decide if I want to spend the money on an awesome place to live (having a pool, gym, and super nice and big living space) OR drastically cut down my mandatory expense by living in an "ok" place and having a ton more cash to spend on other stuff, entertainment, travel etc.

WWGFYD?

I'd rather have more play money. You can always deck out a smaller pad.

This depends on the numbers. Gym and swimming you can do at another place than your crib. A jacuzzi is nice though, I'm thinking of getting one, awesome for after-parties.

more dough... nice place is fun and all, but it's just pissing $$ away...

You're a slave to your mortgage or home..I'd rather have fun and have mo money to play with and have investments

I've discovered that at the end of the day no one really gives a shit what kind of place you live in (unless its a dump or a super pimped out pad. pool & gym in a condo dont qualify as pimped out).

Weirdly enough I pulled in more tail living in a shared loft situation than a 2br fancy condo all to myself....

My philosophy has been, no more than 25% of net income for a rental place (i'm paying ~15% right now). I went for a pretty expensive rental place a few years back... was way more than I needed and it was too draining on the finances. I'd much rather have more cash in the pocket/to play/invest/take dance yoga etc classes than live in a more expensive place.

Young people typically want flashy things... When you get older, usually, you just want the cash.

Make the ok place nice and enjoy the freedom the extra $$ gives you.

You will be glad you did.

Cut down expenses and reinvest the difference.:2 cents:

I'd rather have money to invest.

Your wife may have a different opinion.

More money to put away. I'd live in a box if it meant more capital.

A swing ain't that important when the park's around the corner... - De La Soul

We have a house that drains us. We use 30% of the rooms.

We're moving to South Beach early next year. We will be getting a tiny two bedroom apartment near the beach.

Save your money and use it to enjoy life. Spend too much on your house and you'll spend more time there than you want because you won't be able to do afford anything else.

Please, please, please trust me.

Travel > Crib :2 cents:

Someone who goes for the sweet pad does so to impress/get approval of others, and cares too much about what people think.

:2 cents::2 cents::thumbsup

Have a comfortable place to live, but unless you plan to spend the rest of your life there and raise a family, focus on disposable income.

would like both :)

my sentiments exactly

i used to live in a house that didn't get renovated since 1945 and my "apartment" still had coal heating. but i had my own toilet, unlike some other apartments who had a shared toilet on the staircase...

so yes, i'd prefer the disposable income - lol

This is generally a question of maturity.

You need both, just one or the other isn't fulfilling enough, I've been in both (singular) situations... :disgust

I LOL'ed with you not at you

:1orglaugh

cash and house withoout bedbugs is optimal solution

If it's a rental then save your money, if it's a purchase then that's a different story.

From experience what is expensive now seems reasonable a few years from now, if you need to stretch just a little bit to get your dream house then do it and work that much harder. You need to be rewarded in life for your hard work, can't take it with you.

Disposable income.

I prefer a nice place. I spend to much time at home

Peace of mind...

Mo' money. I've got kids.

I used to spend a huge chunk of my income on my apartment... Nowadays I like keeping my overhead and monthly expenses low.

Back then I justified it because I worked out of home and "deserved" nice surroundings... Tough call actually.

When I bought my house my number 1 concern was to make sure I was not house poor. So instead of buying a 5,000sq house I got something smaller so I would have some disposable money as well. Renting is retarded you are just pissing away money month after month. I was renting for 8 years before I bought and when i calculated what I was spending it was enough to make you sick. However, different strokes for different folks.

If the neighborhoods are both good, then I would go with the smaller place if you have a budget.

But I would always spend more to live in a nice area. In a really nice area, you can live in a tiny place and still be happy.

ive been thinking about it lately.. my place is pimped out.. not so big but its a luxury high rise.. the difference between this and a "regular" downtown place is like $1k a month so i dont really mind..,,

the place has 24hr concierge.. pool.. jaccuzi.. hot tub.. view of the bay.. party room.. bbq.. etc.. so its a nice place.. but it is expensive and i keep thinking i shouldnt be paying this much for somewhere to live.lol

but having a nice spot does make me wake up in the morning and dont feel so bad about spending all my time in front of a computer.. plus im settled here, tons of furniture, pictures, etc.. too late to move now.. haha

but id make sure my rent isnt more than 30% of monthly income.. mine isnt so its ok i guess.. plus i have no car note since my car has been paid off forever.. so apart from my rent, the next highest bill is crap like electricity, cable, etc

There's no such thing as "disposable income", there's only idiots that don't know how to manage money and make it grow.

I just downsized a bit but upsized, too. We went from a house with a yard (huge rooms but lots of wasted space, lots of yard maintenance, house needed work) to a townhouse with a little yard (more rooms, better layout, no yard work other than my flowers). AND it's $500 a month cheaper than the house. Honestly I feel much more 'free' now. That's $500 a month I can put into savings and I don't have any worries about structural maintenance.

Extra cash is always better, I'm a believer of the philosophy of the book "The Millionaire Next Door"

What an awfully obscure sentence!

"Commerce" has nothing to do with "tought"...

money money money

Use to be get the house, now you're lucky if you don't owe more than the house is worth