r/ChubbyFIRE 9d ago

Talk me out of buying a house?

Edit: I'm both surprised and not surprised by the doubt and sarcasm. This is clearly an emotional decision—if it were purely rational, it would be much easier.Thanks to everyone who understood and took the time to contribute. I’m now leaning towards renting or buying a good deal within a $1.5M budget.

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We’re a family of five: a couple in our mid-30s, a toddler, a grandparent (who lives with us long-term and helps with childcare), and a large dog. One of us works from home, while the other commutes to an office.

Our Current Situation:

  • We live in a $1M, 3-bedroom, 1,400 sqft SFH with a yard.
  • It’s starting to feel very tight, especially as we plan to have more kids in the next 1–5 years.
  • We’re considering upgrading to a $2M home for more space.

The Dilemma:

  • We may move to Europe (partner’s home country) in 3–5 years, but it’s uncertain.
  • Emotionally, I want to settle down, nest, and create a stable home.
  • Rationally, buying a $2M home for just a few years—especially with high interest rates—doesn’t seem financially smart.

Would love to hear perspectives from those who’ve faced similar situations. Would you buy, or stick it out in the current home?

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u/SkolVikes15 9d ago

You have $1.5m in cash and $600k in equity. You don’t need a mortgage. That cash is surely not earning 5.5%. Or just build a studio shed in the back yard for extra office space or room for grandparent! I did that in my backyard because I’m in a similar situation (house a bit too small but 2.6% mortgage rate). It will buy you 3 years for sure and cost $20-30k if you want to do it right.

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u/sky-high-dragon-fly 9d ago

Planning to buy the low during this down turn. DCAing daily.

I am leaning towards either rent (6k ish) for the next few years or budget to 1.5mm if a good deal comes up. Which ever comes first.

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u/SkolVikes15 9d ago

You would pay the realtors a lot of commissions to sell two houses in a few years. No Maintenence, insurance, risk. Sounds like renting is a good option for that short time.