@tcbofade wrote:
@Anonymous wrote:
@tcbofade wrote:Thanks all for the excellent responses.
We are still chewing on this one. Kiddo is about to start college and is planning to live at home and commute for her first four years, and we are absolutely fine with that. (Our home is open, available, and rent free for full time students.)
Kiddo has NEVER liked her bedroom and is probably more ready to sell out and move than either of her parents are.
Frankly, I LOVE the idea of buying a smaller house cash and having NO mortgage payment.
DW and I (and TWO of the kiddos) put a lot of blood, sweat, and elbow grease into rebuilding this home and making it "ours". ( How many of you have a 200 sq ft laundry room???)
...still thinkin....
My entire apartment is just 295 sq ft. Haha.
Oh my. We are spoiled and we know it.
We spent a weekend at the Hilton last year, and missed our bedroom and custom bathroom.
(You know you are spoiled when you weekend at the Hilton and find the accomodations sub par....)
For the moment, I think that we are going to stay put. Over the next few years, our home value should continue to increase while our mortgage balance goes down... we've got quite a bit of home equity, and are gaining every year.
Might stay put until that number gets large enough to purchase a medium sized house with it...
Could be a good plan also.
My folks sold the house I grew up in 3 years ago (3/2, 2000 sq ft, yard/pool, due for a gut reno, $1600/month mortgage) and paid cash for a 2/2 1600 sq ft move in ready condo and never looked back. They now pay just $350/month in association dues which includes cable, water, exterior upkeep, landscaping and have two heated pools they don't have to maintain.
They are loving the easy life.
@Anonymous wrote:
@tcbofade wrote:
@Anonymous wrote:
@tcbofade wrote:Thanks all for the excellent responses.
We are still chewing on this one. Kiddo is about to start college and is planning to live at home and commute for her first four years, and we are absolutely fine with that. (Our home is open, available, and rent free for full time students.)
Kiddo has NEVER liked her bedroom and is probably more ready to sell out and move than either of her parents are.
Frankly, I LOVE the idea of buying a smaller house cash and having NO mortgage payment.
DW and I (and TWO of the kiddos) put a lot of blood, sweat, and elbow grease into rebuilding this home and making it "ours". ( How many of you have a 200 sq ft laundry room???)
...still thinkin....
My entire apartment is just 295 sq ft. Haha.
Oh my. We are spoiled and we know it.
We spent a weekend at the Hilton last year, and missed our bedroom and custom bathroom.
(You know you are spoiled when you weekend at the Hilton and find the accomodations sub par....)
For the moment, I think that we are going to stay put. Over the next few years, our home value should continue to increase while our mortgage balance goes down... we've got quite a bit of home equity, and are gaining every year.
Might stay put until that number gets large enough to purchase a medium sized house with it...
Could be a good plan also.
My folks sold the house I grew up in 3 years ago (3/2, 2000 sq ft, yard/pool, due for a gut reno, $1600/month mortgage) and paid cash for a 2/2 1600 sq ft move in ready condo and never looked back. They now pay just $350/month in association dues which includes cable, water, exterior upkeep, landscaping and have two heated pools they don't have to maintain.
They are loving the easy life.
This is EXACTLY what DW and I are thinking... she'll turn 47 this year, so we're eight years away from a 55+ community. Should have more than enough equity to sell out, purchase a condo/duplex where someone ELSE paints the house, mows the yard....