So I tried to downsize our house. We bought a 1200sf house with a 700sf guest house out back. I figured we could always rent out the guest house if we needed to. So now we've moved in. So far we had to replace both roofs (I knew this was probable during the inspection), tear out kitchen and both bathrooms in the main house, break through the slab to replace rotten cast iron drain pipes, after breaking out the slab found a 20' diameter void under the slab from a previous water leak. So far about 50,000 in repairs and still going. Now that I've been staying here I realize I don't want to rent out the guest house and have people living in our back yard on our shared pool.
So after doing all the repairs, this house cost more than our original house and costs more to maintain. We now have two of everything to take care of and really will only live in one (other than when guests come).
So I'm unsure how to get out of this situation, if I sell now I will take lose around 100k after the cost of repairs and real estate commissions etc.
What a mistake I made, definitely sets my er plans back a few years.
So after doing all the repairs, this house cost more than our original house and costs more to maintain. We now have two of everything to take care of and really will only live in one (other than when guests come).
So I'm unsure how to get out of this situation, if I sell now I will take lose around 100k after the cost of repairs and real estate commissions etc.
What a mistake I made, definitely sets my er plans back a few years.