I know that there are a lot of things outside of financial considerations to think about here, but I am trying to weigh the value of living in practically free housing against my current situation for our long-term financial health.
My wife and I are in our late 20's and are renting an apartment in San Diego, CA. We live in an old apartment building in a nice neighborhood and are paying $1,100/mo for it. Between the two of us we have about $35,000 in savings in various accounts (including a 401k) and our household income is about $75,000 a year. We're saving about $1,100 a month and we would like to own a house one day but we're worried about the cost of a home in the area, with the median price being over $500k right now for a rather basic home.
My wife is from Ireland originally and before we were married she inherited one-third of a small home there (three small bedrooms, semi-detached with one bathroom in Limerick). She has two sisters that inherited the other shares. The two sisters do not intend to live there and none of the three want to sell the home. We do not have children and aren't planning on having any soon. I should also mention that all three sisters have excellent relationships with each other. I have been to Ireland three times before and I do like it there.
The house is vacant and to me the idea of moving in feels like a huge opportunity for us to protect our financial future. I'd be giving up on my current career in the casino industry (which hardly exists in Ireland) and I'd have to start from scratch doing something else. I also find the process of emigrating daunting and I don't want to make a mistake and overlook something important.
Is there anything important that we need to consider before making this choice? I'd certainly appreciate to hear from someone with experience with emigrating from the United States. I am eligible to move to Ireland as the spouse of a citizen, but I understand it may take a few months before I am able to work. Thanks for taking the time to read!
Submitted October 22, 2017 at 08:30PM by swrieden http://ift.tt/2xdWyHx
