Poll

How much net change in total debt reduced + equity added did this badass move help you?

We were net under-water on equity and lived to tell the tale!
0 (0%)
$1 to $100K
2 (28.6%)
$100K to $250K
2 (28.6%)
$250K to $500K
3 (42.9%)
$500K to The Sky Is the Limit!
0 (0%)

Total Members Voted: 7

Voting closes: November 10, 2018, 06:35:08 PM

Author Topic: We Downsized, er... Optimized! Wheeeeeeeeeeeeeeeeeeeeeeeeeeeee!  (Read 353 times)

Money Badger

  • Bristles
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We Downsized, er... Optimized! Wheeeeeeeeeeeeeeeeeeeeeeeeeeeee!
« on: October 11, 2018, 07:35:08 PM »
As MMM has espoused, downsizing/rightsizing primary residence can accelerate FIRE and enhance overall sense of calm and happiness (Jean Luc Picard style).   For those who did this, how much was your total sum debt $ reduced plus liquid equity $ freed from downsizing?   And it's perfectly OK to vote that you sold just to give the keys back to the bank if the house was underwater since that can be a life saving / financially enhancing move as well in many more cases than the bankers would like us to believe (particularly in major systemic / employment downturns).   Will keep the voting open for 30 days and see how this goes...

mspym

  • Pencil Stache
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  • Posts: 841
  • Location: Downunder
Re: We Downsized, er... Optimized! Wheeeeeeeeeeeeeeeeeeeeeeeeeeeee!
« Reply #1 on: October 11, 2018, 08:37:06 PM »
We downsized our rental house and netted enough savings to buy a new Jazz with cash in under 6 months.
[can never buy in this market because it would be an $8-10k a month mortgage payment, even w 20% down]

ixtap

  • Handlebar Stache
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  • Posts: 1223
Re: We Downsized, er... Optimized! Wheeeeeeeeeeeeeeeeeeeeeeeeeeeee!
« Reply #2 on: October 11, 2018, 08:48:16 PM »
Those are some impressive brackets there.

However, I am another renter who got a roommate because it was cheaper to share than to get a studio.