I have been absent from posting and my channel. As you can see from the photo it has been for good reason. Yes we sold our house. But this sale gave me a big reality check. We all know how the real estate market is these days. We purchase in 2023, at what I would argue is the peak of recent sales. Now we are selling at the polar opposite of that. There are many personal reason for this sale, but the bottom line was that it had to happen. For to long many people including myself were not willing to talk about finances. Ironic now that I share it in Youtube. I think that talking about finances is healthy. Of course it’s not for everyone and I get it. To put this sale/loss into perspective, we lost nearly all of our market gains from the last 3 years. Yes you read that right. But there is a silver lining, which is the part that changes my outlook. The house be purchased is not far from our current house. It has a carriage house that my mom will move into. We went from a small Lot to almost half an acre which is what we wanted when we bought this house. The market is down for everyone. So while we took a loss on this house we purchased the new one for less than he bought our current house. My Mom is 76 and as some of you know is now a widower. She will be renting from us. So from a mortgage and cash flow perspective we are better off. For me I could not get my head around the loss we were going to take. Through this move we have done many things to save money. As you can see by the uhal. I am excited to get into the new house where I will now have my own space for my Youtube videos. For those that watch my channel the set up I had was done each video. So that was on top of research shooting and editing. So while I have been absent I have still been learning. Today it’s the Rational Reminder podcast EP 433 with Dave Chilton. What is your favorite podcast? Share with us. I am always looking for new things to watch and listen to.
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42 Comments
Gary Gill@garygill · 3d
Re: "For me I could not get my head around the loss we were going to take." I completely understand that feeling. What helped me was training my mind to stop dwelling on past losses and focus purely on future growth. We all experience setbacks. But putting my energy into how I can create new income and trusting that I can always make more has supercharged how much I bring in year over year. That growth completely dwarfs any losses I have had, regardless of how big they were, and CONGRATZ on the new home!
Clantosa
@clantosa · 3d
You sold for a loss but you bought another house for most certainly a bargain from prices 3 years ago as well. So it all evens out. What you lost on the sale you gained on the purchase. If you sold and rented instead then it would be a permanent loss This demonstrates the danger of letting your emotions control decisions. Not saying this was you just talking in general. People were head over heels engaging in bidding wars thinking if I don't get in they'll never get in ever. So they all went mad bidding prices beyond what the economy could handle. Now that people are tapped. The market is coming down and many homeowners are underwater. Not to mention increasing rates are not going to help those still holding and needing to renew soon. Never buy because of emotions. Only buy if you can actually afford it and if you can't then figure out what it is you can do to make more money Looks like a nice area where you're at. It's cold and there's already been snow on the ground for a week here.. the cold comes so early that leaves on trees can't fall off in time before they freeze into place. I do my fall cleanup in the summer time when the leaves actually finish falling Anyway hope this new location serves you well
yield
@yield · 2d
One thing hit hard "She will be renting from us"
Mike L
@noviceadvisor · 3d
Could have had a better return 😆 🤣
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