There are things we could still do like get a side hustle, get a higher paying job, and sell our house. Problem is I haven’t found a good side hustle I would excel at and be able to fit in during my little free time. (I want to make sure I give my wife and kids the attention they deserve.)
I’m happy with my job right now. The seas are cloudy ahead (new project and management keep changing) but for right now I am optimistic. I also want to have my 401k vested before doing anything drastic. No point leaving money on the table.
Which leaves me with the last point, should we sell our home?
We have joked about the idea for over a year but I’m starting to wonder if maybe we are a small percent serious. It occasionally comes up in conversation and both Ms. Blue Ribbon and I like to go online and see what the housing market looks like not only in our neighborhood but also close to downtown.
Here is the pros and cons list that I came up with of selling our house.
Pros to stay
- We love our neighbors
- We have put in a lot of work in this house to make it a home
- Have a park less than a block away (with two kids that is invaluable)
- Decent school district
- Awesome-tastic commute for Ms. Blue Ribbon (about 5 minutes)
- Right next to an ice cream shop (perhaps this should be a con to stay?)
Cons to stay
- We still have lots and lots of work left to do
- Having to deal with the frustrating neighbors and their annoying cars
Pros to leave
- Could drastically lower our mortgage
- Can find a house that fits what we want
- Move closer to downtown opening up the job opportunities
Cons to leave
- Finding all the unwelcome surprises in the new house
- New neighbors may suck
- Finding new services (medical, dentist, eye doctor, potentially daycare)
- The “losing” the memories made at our current home
- Moving (nuff said)
If I use the example house that recently went on the market we would be able to save over $100k in a brokerage account by the time we would pay off our current house. We would also have saved around $30k in interest. In the grand scheme of things that would shave off 1.5 working years. An enticing incentive. Leaving open opportunities we had not thought of before as well.
Is that enough? I don’t know. There is no shortage of known and unknown variables in this problem. One thing is for sure, this is an emotional decision (perhaps that’s why there are so many in the rent for life crowd).
What will we do? Nothing for now. (That house was sold before I finished writing this!) (Seller’s market)
Maybe if the right house comes along or something changes in our world we may have different feelings. Who knows, my editor (Ms. Blue Ribbon) could read this and call our realtor (doubtful).
Have you thought about changing homes to get out of debt or speed up retirement? Do you have a side hustle you want to share?