21 | Homebuying Series: 1 decision that makes 1,000 decisions
I first came across the concept of "1 decision that makes 1,000 decisions" reading the book Essentialism: The Disciplined Pursuit of Less by Greg McKeown.
I think there are at least two sides to this concept when it comes to buying a home.
The first side is related to relationships.
The proximity and convenience of interacting with neighbors is hard to beat and hard to avoid.
Whether you’re leaving in the morning, coming home in the evening, going for a walk, playing at the local park, or sitting on your porch, you’re going to see one another living ordinary, daily life.
Your neighbors will rub off on you in more ways than you can imagine – how they interact with you and others, how they spend money, where they go to school, and on and on.
Locking in one decision on a home is like locking in 1,000 decisions on who will influence your ordinary, daily life.
The second side is related to financial freedom and flexibility.
A house is one of a few big-ticket spending items that actually moves the needle on household cash flow.
For every $50,000 spent on a home, there are 10,000 lattes or 500 date nights or 100 UNC-Duke games or 50 weekend getaways or 5 trips of a lifetime that could be pursued instead.
I realize I am not accounting for financing a house over 30 years or the interest paid or the tax deduction. Please forgive me.
I don’t think that changes the point – one $50,000 decision on a home can be responsible for an abundance or scarcity mindset on 1,000 other decisions that add the color to life.