If you're thinking about selling your home, you probably have a lifestyle benefit in mind. Maybe you want a smaller place because the nest is empty, or a larger place because the nest is full. Maybe you're sick of winters and want to move to a sun state, or you want to go where employment opportunities are better. maybe you just want to move to a nicer neighborhood with better schools, or less crime, or neighbors who actually mow their lawns and sleep at night. There are all sorts of reasons that changing homes could make your life better.
We have become accustomed to building equity in our homes through appreciation and debt paydown, and that has made a lifestyle upgrade easier. Today, the value of our homes is not what it was last year, or a few years ago, and that increases the cost of investing in a better life.
We all dream of a better life for ourselves and our families. As we know, each of us is a perishable commodity, and likewise for our family as it exists today. Life is short and each chapter even shorter. Our children are with us for about two decades and, as it should be, each year passing brings them closer to their fledging. Dreams are meant to come to fruition before they become lost opportunities. Yes, you will probably lose money when you sell your house. And, yes, it could be a great investment.
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