Thru hike or buy a house ?

[Jbolton]

My husband and I need some advice. We are recently married , neither have thru hiked ( he has much more experience then I ) and we dream everyday of accomplishing such an endeavor. The cost looks to be about 10 grand for us. That's enough for a down payment on a simple home for us. But what do we do??? It's been a year since we first started talking about taking this adventure. Has anyone on here have advice or had to make similar choices as us ?

[BlackCloud]

Real estate is so depressed right now that buying it is a must for those who can. While the cost of the house will only rise from where we are today [long term], the cost of a thru hike will remain fairly constant.

To reword your question in logical terms, you are asking if you should make one of the largest and most important investments in life or go on a prolonged vacation. Remember, buy a home & you will (I assume) continue to work and earn $$. A thru hike's cost must therefore consider lost opportunity income.

Not the popular answer on this site, I'm sure.

[Sassafras Lass]

Well, what are your long-term goals?

To live in a suburbs and compete in the rat race? Always working for your 'stuff', a 'better' house, a 'better' car, a 'better' TV?

Or go live on the eastern seaboard and have the trip of a lifetime for half a year, which will change you in good ways?

There are many ways to live, and traditionally is only one of them. A house is a huge commitment and when you begin to fill it with belongings and kids, it will seem crazier and crazier to walk away from it.

[Juice]

Bust out the magic quarter. Heads or tails!

[HiKen2011]

Well, what are your long-term goals?

To live in a suburbs and compete in the rat race? Always working for your 'stuff', a 'better' house, a 'better' car, a 'better' TV?

Or go live on the eastern seaboard and have the trip of a lifetime for half a year, which will change you in good ways?

There are many ways to live, and traditionally is only one of them. A house is a huge commitment and when you begin to fill it with belongings and kids, it will seem crazier and crazier to walk away from it.

I concur, and will add this. The more you have, the more it cost to have it. The american dream? More like a nightmare. I own a couple of properties and honestly it's better to rent in the long run.

[Ender]

I agree with BlackCloud that since the market is so low, if you can afford to buy, now is a great time to buy. Costs are low, and more importantly interest rates are low. My wife and I bought last year for that very reason.

I'd advocate buying a house if that's something you want to do. Hiking will always be there, this buyers market will not.

[TOMP]

leave trainspotting to someone else and buy the house. The AT will be there when you are ready, you probably wont see a better time to buy a house in your lifetime.

[hikerboy57]

you're 24. go hike. the market isnt going anywhere soon.i can recommend a 2 person house that weighs under 2 1/2 lbs.

[rocketsocks]

Buy a house on the trail,maybe even open a hostel.

[hikerboy57]

think about if you buy a house, you probably wont be thruhiking for 15+yrs.if thats ok, then buy the house.

[leaftye]

Don't buy a house based on predictions of its value increasing or decreasing in the near future. Buy a house when you want a house and it's something you can honestly afford. Since you're considering a hike, you might want to take a look into renting it out while you're hiking.

[Hoofit]

Go hike....

Property market is still going down and once you've bought that yoke around your neck(the mortgage), you ain't going nowhere for any length of time!

Live a little and larf a lot!

Hope to see you both on the trail

[Sal-XK]

There are still ways to buy a house no money down so you can probably do both if the stars align for you. You'll just have to get you job history back in line. If your a vet the VA loan is still no money down. USDA is no money down but can't be over 210k or under 80k and be considered a rural area something like that. I know its hoops to jump threw but its no money down. So spend your 10k and threw hike and maybe still get your house, do some research see what you can come up with you just might get your cake and eat it too.

[max patch]

Hmmm.....a kick azz vacation or taking the first step to financial security......seems like the answer is obvious to me.

[beakerman]

think about if you buy a house, you probably wont be thruhiking for 15+yrs.if thats ok, then buy the house.

this is my take exactly...you need to decide your priority on this. aslo weigh your ability to save up a similar amount of cash after a hike. If you look at it this way you may find you hike today with minimal financial commitments (house note), then save up again to buy the house. If the time to save the down payment is acceptable then that would be a go for hiking it that time is not aceptable to you then you buy now and figure out how to save cash to live on while youhike...including making house payments along the way.

I will tell you it is easier to save money while you are young and have fewer commitments.

[Spirit Walker]

It really depends on how badly you want to do a thruhike. Buying a house is the sensible solution. However, at the moment you have the money and the freedom to live your dream. If you buy the house, you won't be able to leave it easily. Mortgage payments, insurance and taxes require a job. Hard to do a long hike and keep up the payments. Renting out a house can be difficult, and what do you do if you leave the trail early? Even section hiking becomes iffy if your house has a lawn that needs regular maintenance. Chances are you'll end up having children sooner or later - which puts off the hike a few more years. If doing a thruhike is really important to you, I wouldn't wait. You don't know what curves life will throw at you.

[flemdawg1]

Go do the Thru-hike, you can get an anchor, I mean House payment later.

[strollingalong]

this is my take exactly...you need to decide your priority on this. aslo weigh your ability to save up a similar amount of cash after a hike. If you look at it this way you may find you hike today with minimal financial commitments (house note), then save up again to buy the house. If the time to save the down payment is acceptable then that would be a go for hiking it that time is not aceptable to you then you buy now and figure out how to save cash to live on while youhike...including making house payments along the way.

I will tell you it is easier to save money while you are young and have fewer commitments.

yeah

do it do it do it do it!

[Mags]

You are only 24.

The same age I was when I did my AT thru-hike.

Walking the AT lead me to moving to Colorado, taking up backcountry skiing, exploring the slot canyons and other long hikes.

Personally, I am glad that I spent most of my 20s and early 30s wandering to and fro. I worked in IT to pay the bills, save up money and went hiking.

Now at 37, I am putting down more roots. Getting married this year, bought a used vehicle (in cash. )that is probably a bit better for us than my 2wd pickup, etc. Still a modest lifestyle by most standards, but a big step for me. A town home is probably part of the equation. (And if not going out for 6 mos at a time, 6 wks at a time is looking to be in my fairly near future).

The difference between then and now?

At 24 years old, I was NOT ready to settle down a bit in Rhode Island.

At 37 I've hiked the AT/PCT/CDT, done smaller hikes (Long Trail, BMT, Colorao Trail, etc) , and had lots of extended time off skiing, climbing, exploring Utah, etc. And, quite frankly, I love my home in Colorado more so than I ever loved RI.

At 37 I am ready to put some modest roots down. At 24 I was not.

YMMV. Truly. I was not ready until now. You may be. Only you can decide.

[Jbolton]

Hmm ...never thought of the no down payment method !! Catches my interest. Just being 24 the hike really does get the best of my logic . Thank you everyone for your advice and comments. Gives me a lot to think and talk about.