What does Biggerpockets say non-investment home purchases?

[Ryan Randall]

My wife and I have been able to owner occupy and grow our portfolio to 8 total cash-flowing rental units (netting roughly 80k/yr). At some point, we'd like to purchase a SFH just for ourselves. We want the typical things, nice neighborhood, good schools, fenced in yard for our dog, and enough room to start a family.

Obviously, Biggerpockets is filled with terrific advice for investors, how to run the numbers, etc. What kind of advice would you give someone who is buying a home as their sole primary residence to live in (for at least 5 years)? Would you advocate to buy in an area with stronger historic appreciation? Any certain price to income ratio to consider? Etc...

We'd love to use some of the wonderful wisdom here when purchasing our first home together.

[Damaso Bautista]

Hello Randall, I love this question because it makes you think.  For me it depends on the situation your are in and the goals you are trying to achieve.  The answers in my opinion would be very different for someone in their 20's,30's, 40',50's, marital status, kids.  There are so many different things to consider.

For me personally it is whatever i can convince my wife to agree with.  I just know from experience that if you are willing to sacrifice the lifestyle ( living in an A neighborhood, with A+ schools, and A amenities) the more money you will have to continue growing your portfolio and making money.

Now If you and your wife are looking for a certain lifestyle then I am in the Happy wife Happy life club and so far it has worked out so far (33 years).   Find the plan that works for you and your wife. A happy life is better then all the money in the world.

Good luck!!