We were newlyweds. My wife moved into my rented apartment because the rent was cheap. Neither of us made very much money at the time. Our plan was to save our money and someday… maybe in 10 or 15 years… we would have a good down payment to put on a house of our own.
We while spending the weekend with older and more successful friends, we mentioned our plan. Our friend said, “”No! By the time you save for that huge down payment, house prices will have skyrocketed! Get your hands on every penny you can… cash in insurance policies if you have to! But figure out where you want to live and buy now!”
We decided on where we wanted to live. We hadn’t spent our “wedding money” yet, so we added to it every dollar we could afford to put aside… and we bought a nice house, two blocks from the ocean for $35,000. (1984). A year later, it was valued at $100,000. because AT&T built an office building in our town and its executives wanted to live near the ocean. 20 years later we sold it for $250,000, which bought our home in Maine. Ten years after that, we sold our home in Maine which bought our present home in Santa Fe, NM.
…all because we trusted a friend’s advice and bought a $35,000 house in 1984.
Read other answers by Rick Cormier on Quora:
- What is the best thing that ever happened to you for being nice?
- Which of the habits that you've adopted has done the most to improve your life?
- What are some of the things you would like to do before you die?
from Quora http://ift.tt/2lqz0fY
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