What gives us the best start?
We cannot decide what is best for our FIRE goals, so I hope you all can give us some advice. We discovered FIRE not too long ago, but we had already been investing for a while. (But we definitely did not start in our 20s like a lot of you guys).
Our current situation: we are in our mid 30s and live in a very very small but lovely house (no kids expected). We know that we would like to buy a bigger house in the future, but when and where is still undecided (although it would not be far from our current city).
With our current mortgage, we are able to save more aggressively (not agressive enough for our goals), and we also have a lump sum of money we can invest (from my spouse’s former house that he sold).
What is the smarter option if we want to reach our FIRE goals faster? Stay as long as possible in our current house with a low mortgage and save aggressively, then buy a bigger house within the next decade and take on a new mortgage then? Or is it smarter to buy a bigger house sooner rather than later, so we do not have this big TBD cost later in life? Especially since housing prices may be much higher in the future.
Sorry the post is a bit long, but I hope the dilemma is clear! Happy to hear your thoughts.
EDIT: so we can invest more in ETFs when living in the small house.