"If your pockets are really that deep, then why are you slumming by looking at $194K houses when the median home price in Chicago is $238K? "
Im not quite sure of your intent at embarassing me, perhaps Jamie is your buddy, but I digress. To answer your question, 4 years ago my wife and I had no kids, and we both enjoyed traveling as well as buying nice things (cars, gold/silver bullion, etc). The $194k house fit into our lifestyle very well at that time. It was a 2 bedroom ranch in a neighborhood full of city workers (im a Chicago firefighter). So it was safe, and large enough for us to be happy, yet the mortgage was small enough to allow us to do whatever we wanted to do...ie we wouldnt be "married to a mortgage". We ended up buying a bigger house not far from the one we wanted for $224k that was even nicer. The small difference in price didnt bother us, but in retrospect, its a good thing we didnt get the other one. My wife became pregnant with our son a few months after we closed on the home! We really appreciate the extra space now.
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