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FTA-TV First Dates - Part 7

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It's pretty difficult at my school these days, when this new school year starts I now have to keep 500 metres away instead of the 200 I had last year
 
I left home at 26. Considering I was OS for 1 year prior, technically 25. Not bad.
I moved here a week before my 23rd birthday almost 50 years ago. I went away to college at 18 and was only really at home during summer vacation and even then I worked 10 hours a day, so wasnt at home much.


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I moved here a week before my 23rd birthday almost 50 years ago. I went away to college at 18 and was only really at home during summer vacation and even then I worked 10 hours a day, so wasnt at home much.


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Hardcore bro.
 

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I first went to St Mary's University in San Antonio, Texas, but transferred to a small, private Presbyterian college in my home state to take up a scholarship that I could only use in Illinois. It saved me a lot of money. I never had any interest in going to a huge American state university like the University of Illinois, though it would have been even cheaper. I basically knew all the students in my school and was able to develop friendships with some of my professors. It was that personal touch that I appreciated. It's not for everyone.

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yeh - this is the post on GD forum
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For those following at home (or work), my tenants in my house here on the GC hinterland have asked to buy it, and it looks like it will happen between now and June. They have rented it for past 18-24 months. And during this time, my family have been renting ourselves next to the beach.

We are now faced with the what do we do next (to cover the next say ~10 year period - over which time children should start to leave the nest). We need 5 bedrooms plus a space for my office.

From looking around at some houses the last few weekend, i think there are two clear options:

1) pretty much go 'like for like' in terms of a new mortgage by getting a high spec, large 5 bedroom house with a pool, which is in a nice nearby suburb. i wont have to do anything, turn key option.

2) half or even cut my mortgage size to 1/3 current size by getting a standard spec, 5 bedroom house which may or may not have a pool but has room to add one, and may need over time some kitchen or bathroom upgrades but nothing more than say new cupboards or benchtops, no major renovation by any means. This would be available by moving slightly further away from the areas we have lived for past 15 years

if you had the opportunity to reduce by half, or by even more, your mortgage, as someone about to enter my 50s (and i have plans to work for another 10-15 years), would you do it?

in either case, the plan (say in 10 or so years) would be to sell whatever option we get, and buy a smaller 2 bedroom unit on the beach for our remaining (mostly retirement) years.

thoughts?
I wouldn't want the extra debt especially getting older so the more basic option.
 

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