astromeria
Moderator Emeritus
- Joined
- Aug 13, 2005
- Messages
- 1,375
I don't count my house value except in a sort of theoretical way. Like everyone points out, ff we were to sell, we'd either buy something else or rent. And unless something bad happens to us financially, the replacement house/retirement community will cost about the same as the value of the current house. If we switched to renting, we'd hopefully have the wherewithal from the sale to provide the additional income we need to cover rent and moving expenses.
Two couples we know sold their homes locally last year and started renting, in both cases for the flexibility to spend a lot more time with their children & grandchildren up north, and also for the men to get out from under yard and home maintenance--both had health events that contributed to their decisions (heart attack, prostate cancer).
-- Couple A cleared ~$450k from their house sale, and now has $2000/month rent on a pretty townhouse where they can now walk to most errands and have a shorter drive to downtown Charleston. They got rid of one car, but also moved out of their golf community.
-- Couple B traded a small mortgage for a $2300/month seasonal house rental in downtown Charleston--they cleared ~$550k on their house sale.
Both couples enjoyed a hearty run-up in their house values over ~10 years, both couples have reliable pensions that provide (I'm guessing-) ~ half their living expenses, and both are happy with to the decisions to buy when they did and sell when they did.
Two couples we know sold their homes locally last year and started renting, in both cases for the flexibility to spend a lot more time with their children & grandchildren up north, and also for the men to get out from under yard and home maintenance--both had health events that contributed to their decisions (heart attack, prostate cancer).
-- Couple A cleared ~$450k from their house sale, and now has $2000/month rent on a pretty townhouse where they can now walk to most errands and have a shorter drive to downtown Charleston. They got rid of one car, but also moved out of their golf community.
-- Couple B traded a small mortgage for a $2300/month seasonal house rental in downtown Charleston--they cleared ~$550k on their house sale.
Both couples enjoyed a hearty run-up in their house values over ~10 years, both couples have reliable pensions that provide (I'm guessing-) ~ half their living expenses, and both are happy with to the decisions to buy when they did and sell when they did.