This.

Our household income is 300k, and I took a big risk purchasing a home in Socal where mortgage is 50% of our take home income. In a space of 1 year or so, we went from saving two out of four paychecks each month, to sinking two into mortgage each month.

For me, we have one kid and we plan to stay put for at least 10 years. It's a good school district. The quality of life is excellent considering the weather, outdoors, cultural diversity, things to do, and proximity to international airport. We have friends and family here.

But to me what mattered most is that I am 40, our income is going to plateau. Renting is good advice, but in 5-10 years, we won't be able to afford rent here, let alone buy. On the other hand, I can refinance now and bring my mortgage down to what I was paying for rent previously, and in 10-15 years be mortgage free at a place with all the benefits I mentioned above.

Maintaining your own home is a great hobby for guys 40 years old and older. The house may age, but your engagement and knowledge of your house steadily grows. Even contracting out the work has its interesting elements. Keeps you active as you age, both mentally and physically.

The key for older homeowners is finding your querencia, the place of your heart. If where you live is your querencia, then countless options open up for you. Simply living in your home and community becomes a joy. Your community becomes an extension of your home and your heart and you become a vital part of that community. In your golden years, that community provides deep meaning and grounding when your work life quickly fades. Building that connection takes time and energy…plopping yourself somewhere else in your 60s, you may not find it. Building it now and in your 50s guarantees it’s there when you want it.