My 3 Big Purchases in the Next 10 Years (Age 30 to 40)
I’m currently 30 years old, and I have 3 big purchases I plan to make in the next 10 years:
1. A multi-plex home [for income]
The first 2 purchases are residential homes because I currently have 2 home mortgages and 4 is the “max” (10 is, but I think it gets harder after 4, the previous max, as most lenders won’t go past 4).
Since I currently already have 2 condos (1 is apartment style, the other is townhouse style), I feel I should have a duplex, triplex, or 4-plex in my portfolio to get as a “primary residence” and generate income.
Strategically, this should be my next purchase, and I’m waiting for the housing market to drop from coronavirus impact, which will have delay.
2. A “forever” home [to live in]
My last home purchase will be my “forever” home, which I hope to be nice and have a room (or all rooms) on the first floor. If my father is still alive, it will be important that he, and eventually I, doesn’t have to climb stairs at old age as it is more dangerous.
This would have to be spacious and comfortable, near my other properties so it’d be easy to manage them. I need space for my kitchen, piano, boardgames, hangout space, and such.
3. Babies
1–3 babies via egg donors and surrogacy. I’m thinking probably twins in one go. This will cost $150k-200k. I should budget $250k for initial cost. Might be more in 10 years honestly. I also fear there might be tighter regulations, so fingers crossed.
I hope to raise the kids in the forever home while letting my other properties pay the mortgage. Perhaps in the next 10 years I can start a business so that I don’t have to spend much time to run the business once I get babies?
This is actually 10–15 years. I think age 40–45 would be a decent age to have kids. Anderson Cooper is 52 and just had a baby this year, but he’s also a millionaire who can afford nannies and chauffeurs, so I might need that extra 7–12 years to reduce those costs.
These are are all just my current thoughts and hopes. I usually don’t like spelling them out for fear of getting jinxed or “evil-eyed”. And maybe my plans will change. Home-buying really depends on the market and what I find, who accepts, etc. And plans and circumstances are all God-willing. But I’m thankful I was able to think a bit on this and put it down.
God bless and peace!
LB
