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Old 09-22-2010, 05:57 AM
 
6,034 posts, read 10,685,819 times
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Quote:
Originally Posted by beachmouse View Post
Is the area the house is located a place where you expect to see increases in prices in coming years? Do you have sentimental attachment to the home or does it have something unique for the area you wouldn't be able to find again if you were back looking on the housing market?

If not, I'd be inclined to sell the house and park the money in a low risk investment like money market, CDs or bonds that gets you 3% a year. Because you probably aren't going to see more than 3% gross appreciation in many housing markets in coming years, and by the time you add in taxes, insurance, management, utility fees (my electric company charges you $25 a month to have an account with them, even if the amount of power you use in a month is essentially zero) it takes a pretty strong belief in future real estate appreciation to have it make sense to deal with the carrying costs when you can sell it and park the proceeds in a low risk investment that is still likely to get you a better return.
Why is it that people don't understand planning for a rainy day?

As I've said, I don't want to sell the house for various reasons, some of them including the fact that it's a very cheap safety net for myself or my children if anything major ever happens that we can't afford to live elsewhere.

Anyway, thanks to those in this thread who have given me some constructive advice to work with. I'm shopping around for a PM firm that can fulfill my needs.
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Old 09-22-2010, 08:23 AM
 
Location: Niceville, FL
13,258 posts, read 22,849,024 times
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Seems like it is good planning for a rainy day if you're open to the idea that it might financially make sense to not get caught up in what could be high carrying costs for the property and change the investment to something that wasn't associated with high carrying costs.
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