Lady wants a bigger house!
She currently lives in a starter home with 3% interest and mortgage below $1300. How on earth can she afford a larger home!? They want to add to their family so she needs more bedrooms but she needs the equity from this home to buy another one. She says she feels like she'll be stuck in this house forever because such a low interest rate. What would be your advise for her?
pull down to refresh
50 sats \ 0 replies \ @grayruby 5 Nov 2023
Save in Bitcoin for a few years.
reply
20 sats \ 0 replies \ @Signal312 5 Nov 2023
Also consider - the average home has gone up in size dramatically in the last 100 years. The average amount of living space per person in a new house has nearly doubled in the last 42 years. And I'd say if you went back 100 years, it would be even more dramatic. Maybe you don't really need more room.
I had a friend who grew up in Singapore, a family with 4 kids in a small apartment. Aside from clothing (limited), she had a shoebox size container for all her "extras". And she's fine.
reply
0 sats \ 0 replies \ @joko 6 Nov 2023
Rent out the old home and rent/buy a bigger one?
reply
0 sats \ 0 replies \ @Ice9 6 Nov 2023
Why do people always tap themselves out with max debt. Leave a large amount of wiggle room or you'll end up being forced to make decisions you'd rather not make.
reply
0 sats \ 0 replies \ @knorozov 6 Nov 2023
Rent it out and rent a bigger house.
reply
0 sats \ 0 replies \ @premitive1 5 Nov 2023
well if they can afford to double their mortgage then go ahead. growing a family is not cheap.
reply