I need advice on my Underwater House...

[399083453]

Originally Posted by Rolling_Rock

in 2005 people thought I was SILLY for NOT "getting a house" - now they WISH they had, rented, saved, and have ZERO debt.

Yep, same here. Sometimes it "pays" to be silly. When I see everyone doing the same thing, I step back and wonder why. Having lived through the real estate crash of the 1980's, I know how bad things can get.

[Rolling_Rock]

Originally Posted by 399083453

Yep, same here. Sometimes it "pays" to be silly. When I see everyone doing the same thing, I step back and wonder why. Having lived through the real estate crash of the 1980's, I know how bad things can get.

"To be successful in life, simply do the EXACT OPPOSITE AS THE MASSES DO" -- Ben Franklin

[bbnetworking]

how about rent it out, can you break even?

then buy a bigger house with the down payment you saved.

[djacks]

Build an addition if you need a bigger house. Funny how nobody ever complained about too much equity or thought it was strange when people were using their houses as ATMs of unlimited reserves?

[aneftp]

Originally Posted by Rolling_Rock

"To be successful in life, simply do the EXACT OPPOSITE AS THE MASSES DO" -- Ben Franklin

True to a certain point. Just remember has GM stock (before BK) was tanking. The "masses" were all dumping. The masses kept on dumping. And my friend brought $5000 worth of GM stock. So he didn't follow the masses and ended up losing the entire $5000.

Than on other hand. Las Vegas Sands was tanking masses were dumping. He got $10k at around $2/share and made and easy $50k profit on this investment.

[cleasach]

The OP doesn't need a bigger house.

The OP wants a bigger house.

Sometimes you have to make do with what you have. I know a few people in the OP's position and they are working within the situation that is their reality. That seems to be something a foreign concept these days.

[Rakin]

Originally Posted by cleasach

The OP doesn't need a bigger house.

The OP wants a bigger house.

Sometimes you have to make do with what you have. I know a few people in the OP's position and they are working within the situation that is their reality. That seems to be something a foreign concept these days.

Funny how 40 years ago people raised 4 kids in 1200 sq ft or smaller homes. Our sense of need has sure grown over the years.