Hi everyone I need some help deciding what may be the biggest purchase of my life. I found a home that I really like including the price. With one huge exception the up to 30 ish minute commute with traffic (8-9 miles away from work).
Right now I walk to work living in an apartment and the non-driving is amazing. I cant stop thinking about the drastic change 30 minutes would be. And it possibly getting longer as the city grows.
So I looked into closer homes and found a detached condo that is only 10 minutes away (2 miles) but will cost me about $121,900 -$192,000 (depending on the model) more or about $1055-$1500 a month more.
I normally try and be frugal and save a lot with a goal of retiring early, and that extra $1000+ is a huge difference, but so is the time saved.
I would like advice. Its not apple to apples since once is a condo (and im not expert on this), but I believe the condo will most likely appreciate more over the years since its in a high demand zone, Which makes me think it might make financial sense to get the condo since I would save more time and can recoup my costs when I retire and sell it.
On the flipside autonomous vehicles should be on the way and even now getting a Tesla to help ease the commute burden would still be cheaper then getting the more expensive home.
Is my line of thinking wrong? Any guidance would be greatly appreciated. Im free to give any details you all think might be important.
TLDR: is an extra $1000 a month worth saving 40 minutes everyday.
PS I posted in financial independence and was told to post in personal finance and then here. I am not really sure where to ask this.
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source https://www.reddit.com/r/RealEstate/comments/dp0hui/should_i_buy_a_more_expensive_house_20_minutes/
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