How many of you all have stayed in the first house you purchased and payed it off? We have 16 years left until ours is payed for which would leave us at being in our 50’s with no mortgage. We would love to sell now and get into something with more room and a little larger lot but would have to start over with a 30 year loan. We have two kids and our home is 1650 sq feet and is on .16 acre lot. The other issue is that we live within a couple of miles of a land fill and have noticed the smells are getting worse over time. Houses are selling quickly where we live and would give us an opportunity to move into a bigger home. We would really love to move to the beach when we retire and don’t want to mess that up by making a bad decision now. What would y’all do in this situation?
Same here but I'll be in the process come time June. 1 man and 2 dogs living on a half acre in a 3K sq ft house has taken a toll on me. I ready for either a townhouse or 3-2-2 in the DFW area.Tough call OP, I sold my first place 2 years ago and haven't looked back.. it does suck thinking that 10 years from now I would have had it paid off, but I was very much ready to move on from that place. Sounds like you may be on the same boat.
I disagree. It’s one of the best investments out there and one that gives tax advantages that most investments don’t. As with all investments they could go up or down in any given year.A home is not an investment. It's simply where u lay ur head at night. A house is one the worst investments one could make on average.
Which is why it's widely known that a house is not an investment its simple where u live so live in a place that makes u happy just don't get too carried away and become house poor.
Have u tried paying bi-weekly vs. monthly? U pay the same amount u just end up making 13 payments a year vs. 12. U save a lot in interest over time.
you're the first person I've ever heard ever say this
A home is not an investment. It's simply where u lay ur head at night. A house is one the worst investments one could make on average.
On average it's very true. In fact, renting isn't any cheaper or more expensive in the end than owning a house would be especially when u factor in taxes, maintenance costs, up keep, etc....
Most of us paying $5-10k a year in taxes some way more. Own a house for ten years and u pay say $6k a year in taxes in 10 years that's $60k. Its unlikely the house went up in value $60k in 10 years. In fact, for millions they would happy to just break even.
A house is not an investment! Its where u live period! Yea, some score no doubt but most don't no doubt.