Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 8 months ago

I am very well off and I live by myself. It it stupid for me to buy a 4000sq house just for myself ?

20 Answers

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  • B
    Lv 7
    8 months ago

    a house is an investment. you have rights to choose your investments. keep in mind a big house has big insurance premiums and big utilities and big property taxes which may not actually benefit you tax wise.

  • 8 months ago

    nope, not if you like that much space

  • ron h
    Lv 7
    8 months ago

    Don't forget taxes and insurance and a cleaning lady a couple of times a month, (or more) We can't be sure if big houses will continue to appreciate or values may stay flat or got down.  Mortgage interest is rent on money that you don't have.  I fyou have to rent the money to buy the house, that's money you NEVER get back.   If you pay $400k keep it 5 years and sell for $500k but paid $110k in interest and taxes and HOA and insurance, you lost money.  Compare that to renting or buying a house that fits you and decide

  • 8 months ago

    It may not be the wisest and most efficient use of your money, but it's your money. A house that size would allow me to dedicate specific space for specific uses - a library that is just a place for quiet reading and spacious enough for a collection of books, not just a bookcase, a room to display your collections if you are a collector, a media room, an office etc - instead of having to compromise and share living rooms, great rooms or bedrooms with some of those uses.

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  • Judy
    Lv 7
    8 months ago

    I wouldn't, but it's your call.

  • 8 months ago

    Not if you have parties.

  • 8 months ago

    big mistake made by wealthy is to buy expensive house and burden themselves with big bills and difficult to sell your house if you end up not like living in the area. easier to rent instead and moved away with no debt and taxes and no for sale sign  

  • 8 months ago

    thats up to you if you want to buy one or not

  • Eva
    Lv 7
    8 months ago

    Lots of maintenance, though if you can afford a house that large you can probably afford someone to clean it and do the necessary upkeep.

  • Anonymous
    8 months ago

    Not if you like space. Lots of people live in houses alone of various sizes. I'd prefer a house to an apartment. It's down to personal choice. 

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