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Mom Confessions Mom Confessions

Should we downsize?

Anonymous
Posted by Anonymous
  • 16 Replies
Our house is a good size, worth $500-$600,000. We paid $333 11 yrs ago. Hubby works on commissions and in the past made $250 k in a good year. Now I don't even think he's hitting $100 k and our kids" expenses have gone up and we had a 3rd child. We're just making the bills and haven't been able to go on vacation for 4 years. We used to get away every summer. I take care of the kids and work part time as a freelance writer; just started back up; hoping to make at least $5,000 extra for us this year. Not much, I know. I mentioned selling the house and finding something a little less expensive to get back stuff like vacations. Dh got really mad. I think it's a good idea. I can live with less. Any thoughts?
Posted by Anonymous on Aug. 18, 2013 at 11:32 PM
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Replies (1-10):
shadow_lark
by Gold Member on Aug. 18, 2013 at 11:33 PM
I would.
justpeachy71904
by peachy on Aug. 18, 2013 at 11:35 PM
1 mom liked this
Yep. I would never keep a house that would make our lifestyle decrease
Kermitthemom23
by Silver Member on Aug. 18, 2013 at 11:35 PM
refi the remaining mortgage,?
kaybayblee3
by Gold Member on Aug. 18, 2013 at 11:40 PM

 I personally would.

Princess_s21
by Sarah on Aug. 18, 2013 at 11:42 PM
1 mom liked this

 yeah I would, memories and time together is more important that "things" if a smaller house would improve lifestyle etc, I wouldnt think twice.

jamamama00
by Platinum Member on Aug. 18, 2013 at 11:44 PM
Eh....333k mortgage is not too terribly expensibe on a six figure income. I would look for other ways to cut costs before exploring other routes. What if you sell the home and the value keeps going up? You'll be kicking your ass.
ReachtotheStars
by Silver Member on Aug. 18, 2013 at 11:45 PM

I think it is all about what you want really.  

jamamama00
by Platinum Member on Aug. 18, 2013 at 11:45 PM
Yeah, they should have at least 30% equity by this point, no?


Quoting Kermitthemom23:

refi the remaining mortgage,?

Elyce225
by Ruby Member on Aug. 18, 2013 at 11:47 PM


Hell yes.

It's a financially smart decision.

katarina666
by Silver Member on Aug. 18, 2013 at 11:47 PM

Yeah you need to get out from under that morgage ,and learn how to curtail expences where ever you can,before you end up filing for banktrupcy!

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