From a financial perspective, would it not be wiser to perhaps rent out that old house for a few years until interest rates come down and you guys live frugally during that time, and then lock in a lower interest rate in, say, 2026?
Just Listed My House for Sale. Fingers crossed...
- Thread starter Baron
- Start date
From a financial perspective, would it not be wiser to perhaps rent out that old house for a few years until interest rates come down and you guys live frugally during that time, and then lock in a lower interest rate in, say, 2026?
good luck!
Baron
ET Founder
I thought about that but at this stage in my life, I just don't have the desire to be a landlord, especially for a large house like mine that requires tons of maintenance.
I've already found a 3,000 sq. ft house about 4 miles away that we are going to rent for a while. I get the key to it on Monday and we are going to move in next Thursday.
Very nice. A little snug, maybe.
Kidding aside, you're living large, hombre. How many people do you need to keep it clean and maintained, inside and out? Serious question.And just curious, if you don't mind my asking, how much did you pay for it?
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Baron
ET Founder
Very nice. A little snug, maybe.
And just curious, if you don't mind my asking, how much did you pay for it?
I have a housekeeper for the inside and two guys for the outside.
I paid $3.4M for it but keep in mind that was 2007 which about the worst time ever to buy real estate. The bottom fell out of the market from the moment I bought it, and the price never came.back to what I paid for it until about 2 years ago.
Oh, right, I didn't think of that. I figured after 18 years you were going to show quite a gain. Even so, Baron, you're living the dream. Very impressive.
Such as walking into a TV set, like Downton Abbey or Dynasty. The house has a grand salon and staff quarters, pretty sure they are the same from Long Island Sound to Texas border.
I mentione in another thread, my wife wants to go to Bangkok this summer to check out some tall modern condo buildings she saw on Youtube. We just don't want to do the house keeping.
I thought about that but at this stage in my life, I just don't have the desire to be a landlord, especially for a large house like mine that requires tons of maintenance.
I've already found a 3,000 sq. ft house about 4 miles away that we are going to rent for a while. I get the key to it on Monday and we are going to move in next Thursday.
anything goes at EliteTrader next Thursday? Moderation free?
Despite redoing our kitchen about 4 years ago, I know for sure the wife would want the house for the kitchen alone. She uses cooking to deal with stress and makes use of every inch of our kitchen.
Good luck Baron, where we are, despite the numbers saying sales are slowing I am still seeing houses in our neighborhood going fast, just not as many for sale currently. Prices seem to be holding also, but we are at a significantly(huge...lol) lower price point than you house.
Good luck Baron, where we are, despite the numbers saying sales are slowing I am still seeing houses in our neighborhood going fast, just not as many for sale currently. Prices seem to be holding also, but we are at a significantly(huge...lol) lower price point than you house.