I hate it when people make statements like “I can’t go on X vacation because I bought a house” or “I can’t afford to go visit my family for the holidays because I bought a house”. (I also don’t like it when people make statements like “You should be able to go do Y because you make $Z”, but that’s a different story.)
One of my biggest rules in the idea of buying a townhouse is that it cannot break my bank. This means the following:
- I should still be able to afford the same level of vacations that I am taking now. (~$3000 per year)
- I shouldn’t worry about how much money I’m spending on a daily basis – my monthly spending plan should still be functional.
- The increase in my housing and transportation expenses shouldn’t be too steep each month.