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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="Deleted member 2897" data-source="post: 810770"><p>To get value out of selling house, indeed you have to either rent, leave the area, or significantly downsize. Our oldest kid is in college and our other has a couple years left of high school. We were not going to live in that house after they were gone because its too much for having no kids - it was on the water and was going to require a lot of maintenance over time too. We just decided to sell early because prices were absolute bananas. We had thought about buying a smaller house, like a townhome, because we could end up with the same payment plus a million dollars in the bank. But we realized that we may physically leave the area when our son graduates, so we didn't want to buy knowing we might be selling in 2 years. So we're renting a place. We added up the costs of maintenance, upkeep, mortgage, etc. in our house and we're able to rent for a couple hundred dollars less a month. So for now we have zero debt of any type and plan to keep renting for a couple years until we figure out where we want to be next. We're in our 40s and all of this also gives us the ability to stop working as soon as we want if it ever comes to it. We could now quit and retire today if we had to or if it came to it.</p></blockquote><p></p>
[QUOTE="Deleted member 2897, post: 810770"] To get value out of selling house, indeed you have to either rent, leave the area, or significantly downsize. Our oldest kid is in college and our other has a couple years left of high school. We were not going to live in that house after they were gone because its too much for having no kids - it was on the water and was going to require a lot of maintenance over time too. We just decided to sell early because prices were absolute bananas. We had thought about buying a smaller house, like a townhome, because we could end up with the same payment plus a million dollars in the bank. But we realized that we may physically leave the area when our son graduates, so we didn't want to buy knowing we might be selling in 2 years. So we're renting a place. We added up the costs of maintenance, upkeep, mortgage, etc. in our house and we're able to rent for a couple hundred dollars less a month. So for now we have zero debt of any type and plan to keep renting for a couple years until we figure out where we want to be next. We're in our 40s and all of this also gives us the ability to stop working as soon as we want if it ever comes to it. We could now quit and retire today if we had to or if it came to it. [/QUOTE]
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