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re: Better to spend all of savings and be debt free or full of debt with lots of...
Posted on 4/16/13 at 1:44 pm to OnTheBrink
Posted on 4/16/13 at 1:44 pm to OnTheBrink
quote:
Dude, unless you are buying a moblie home or a cardboard box, you will NOT be debt free upon the purchase of another house.
I thought this was going to be one of them good ole debate threads on paying the house off vs. return on that money.
Anywho, why do you HAVE to get out of the house?
Sorry, I don't consider my mortgage to be "debt" as it's a cost that everyone typically has.
So, debt free was the wrong term.
We need to get out of the house for work related reasons.
3
Posted on 4/16/13 at 1:47 pm to townhallsavoy
What's with the rash of posters creating their own accounting rules?
Posted on 4/16/13 at 1:47 pm to townhallsavoy
quote:
Sorry, I don't consider my mortgage to be "debt" as it's a cost that everyone typically has.
Wrong way to think about it IMO. But that's for another thread and discussion.
quote:
We need to get out of the house for work related reasons.
Tough spot. As someone mentioned above, renting it out may be the best option in the immediate future with rates low.
Posted on 4/16/13 at 2:24 pm to townhallsavoy
quote:
We need to get out of the house for work related reasons.
sounds to me that you are moving out of town. With this scenario I would sell because it is going to cost you a fortune to fix the issues with the house once a renter breaks (they will always break stuff). I would payout and then start to rebuild the emergency fund again
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