(Closed) Should I Sell My Home?

posted 7 years ago in Home
Post # 17
Member
11744 posts
Sugar Beekeeper
  • Wedding: November 1999

Only sell if you’re going to make money on the place.  I say just make due in your place now.  You’re the only breadwinner at the moment, so I think what you are comfortable with should be a priority.  When Fiance (then bf) got laid off I moved out of my rental and into his house so I could pay the mortgage.  We wanted to live together anyways and this is what I was comfortable with so he didn’t foreclose on the house.  But point being, it was my decision.  Of course he wanted to live together but wanted me to decide what the best situation would be for me since I was the only one making money.

Post # 18
Member
230 posts
Helper bee
  • Wedding: June 2012

Can you rent your studio out to someone and then you and your Fiance rent out a large apt?

 

Personally I would prefer to just make do in the studio until he has a job and you have a better idea of where this job is and where it makes the most sense for you to live. 

Post # 19
Member
1277 posts
Bumble bee
  • Wedding: January 2012

Do not sell your home, cram into it and make do for the time being.

 

Post # 20
Member
772 posts
Busy bee
  • Wedding: December 2011

Do not sell your place.  Also, it makes me a bit concerned that you just found out how much he has in his accounts.  Money is a huge deal for a marriage–it can introduce a lot of stress as it is already doing.  Please make sure you do not make decisions that make you financially dependent on this man.  You need to work through some sort of premarital planning or financial planning to resolve what seems to be a bigger issue here. 

Good luck!

Post # 21
Member
14971 posts
Honey Beekeeper
  • Wedding: June 2011

@mimi123:  However there is a big mortgage interest deduction off the taxes.

That’s a very important point too.  Personally, I would definitely keep the place and put up with being a little small for the time being to save up some more and build more equity, and then buy a bigger place later.

Post # 22
Member
2522 posts
Sugar bee
  • Wedding: November 2013

Don’t sell.  Please don’t.  Losing money on a sale AND him being unemployed would not be “safe” in my mind for you to end up being financially responsible for rent that doesn’t build equity and doesn’t give you the same tax benefits.  It just seems off to me.

Post # 23
Member
1301 posts
Bumble bee
  • Wedding: June 2013

@mimi123:  Do not sell. It would not be wise to step off the property ladder without a firm plan as to how to get back on it. I think you need to be firm with your Fiance and say its only for the short term. If he wants to look for somewhere larger once he has a job then you can buy somewhere together. This is something I would not bend on as its very hard to get onto the property ladder and you do not know when he will get another job and being unemployed means he will be eating through some of this savings. 

Best of luck, I hope he comes around!
 

Post # 25
Member
212 posts
Helper bee
  • Wedding: July 2011

@mimi123:  you’ll be fine in 465-500 sq ft. 🙂  my husband and I live in 400 sq ft with 5 guitars, amplifiers, etc (hugs space hogs!) and we manage. You’ll just need to decide what is worth keeping around and what isn’t. In such a small space, less really is more!

Post # 27
Member
212 posts
Helper bee
  • Wedding: July 2011

@mimi123:  haha! easy to clean but soooooooooo easy to look messy! in my place, you put a pen down and it looks cluttered!

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