Orchard Hills 4 - "The Summit" Updates

NEW -> Contingent Buyer Assistance Program
I'll probably get flamed for this but here's another way of thinking. I used to save all my $ and one day my boss asked me, "What are you doing saving all this? Will you spend it when you are 70 and an old P.O.S. (no offense to any 70 year olds out there!)"

We stretched ourselves to get into OH in 2021 during COVID. $3m new home + 500k for a dream backyard/pool; 4.25% interest, $10k mortgage. Fortunate to keep our old house w/ a low mortgage on 2.5% interest ($2k). Renting it out for $6k to help offset new mortgage. Yes, we owe tons of HOA and property tax ($55k for both houses per year).

Kids were in elementary and oldest was heading into middle school so it was move now or never since I didn't want to move them in H.S.
Both houses have nearly doubled in value and worst case if anything happened we could always sell and take a profit so it's not like our money is gone. Sure I could've had a better return if I threw it all in NVDA but I have a home that my family can enjoy for years to come.

With that being said, $5-10m is on a whole different level! But I've been on this forum since 2006 and got sh*t when I bought my first home in 2010 for 650k, 2nd home in 2015 for 1.1m and 3rd home in 2021 for 3m! Only you know what you are comfortable with paying.

Good luck to everyone out there!
 
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Agree on the family time for sure. They say you will have spent 50% of your time with your kids when they start H.S. And 90% of the time with them when they finish. Of course this is different for everyone but based on my own experience I moved to Irvine for college and never moved back home. I still remember my mom crying when she moved me into the dorms as if she knew what I know now. Don’t get me wrong we still see each other for the holidays and I wish they were closer but this goes back to the question my boss asked me years ago. This was a big factor for us to make the leap in 2021!
 
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scubasteve said:
I'll probably get flamed for this but here's another way of thinking. I used to save all my $ and one day my boss asked me, "What are you doing saving all this? Will you spend it when you are 70 and an old P.O.S. (no offense to any 70 year olds out there!)"

We stretched ourselves to get into OH in 2021 during COVID. $3m new home + 500k for a dream backyard/pool; 4.25% interest, $10k mortgage. Fortunate to keep our old house w/ a low mortgage on 2.5% interest ($2k). Renting it out for $6k to help offset new mortgage. Yes, we owe tons of HOA and property tax ($55k for both houses per year).

Kids were in elementary and oldest was heading into middle school so it was move now or never since I didn't want to move them in H.S.
Both houses have nearly doubled in value and worst case if anything happened we could always sell and take a profit so it's not like our money is gone. Sure I could've had a better return if I threw it all in NVDA but I have a home that my family can enjoy for years to come.

With that being said, $5-10m is on a whole different level! But I've been on this forum since 2006 and got sh*t when I bought my first home in 2010 for 650k, 2nd home in 2015 for 1.1m and 3rd home in 2021 for 3m! Only you know what you are comfortable with paying.

Good luck to everyone out there!
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You must have over $5m equity in your houses now! Congrats!
 
scubasteve said:
I'll probably get flamed for this but here's another way of thinking. I used to save all my $ and one day my boss asked me, "What are you doing saving all this? Will you spend it when you are 70 and an old P.O.S. (no offense to any 70 year olds out there!)"

We stretched ourselves to get into OH in 2021 during COVID. $3m new home + 500k for a dream backyard/pool; 4.25% interest, $10k mortgage. Fortunate to keep our old house w/ a low mortgage on 2.5% interest ($2k). Renting it out for $6k to help offset new mortgage. Yes, we owe tons of HOA and property tax ($55k for both houses per year).

Kids were in elementary and oldest was heading into middle school so it was move now or never since I didn't want to move them in H.S.
Both houses have nearly doubled in value and worst case if anything happened we could always sell and take a profit so it's not like our money is gone. Sure I could've had a better return if I threw it all in NVDA but I have a home that my family can enjoy for years to come.

With that being said, $5-10m is on a whole different level! But I've been on this forum since 2006 and got sh*t when I bought my first home in 2010 for 650k, 2nd home in 2015 for 1.1m and 3rd home in 2021 for 3m! Only you know what you are comfortable with paying.

Good luck to everyone out there!
Click to expand...
Would you consider buying those +$7m new homes that will be built by TB at OH? I think you can totally afford it!
 
YMMV said:
Would you consider buying those +$7m new homes that will be built by TB at OH? I think you can totally afford it!
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Lol no I can’t. Plus, they don’t offer anything new in terms of functionality to our current house.

The prices are crazy… But we’ve all been saying that since 2006!
 
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