Author Topic: Importance of loving your neighbors vs. Making a ton of money selling  (Read 2445 times)

pirate_wench

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Existential money crisis here, need some outside perspective: I'm in the ever so hot Northwest Seattle market.  If we were to sell our house now, we would walk away with at least $300,000... putting us over the million dollar mark in cash and retirement savings.  The problem is we love our neighborhood and our neighbors. One neighbor in particular is a freaking godsend for us and our baby.  We are across from a great elementary school, awesome parks, business districts, etc. etc... But Seattle is expensive to live in, our taxes are going up constantly, and I think this real estate market bubble will be popping very soon. Plus, we can live practically anywhere for our jobs. It feels do or die right now. I already missed a huge money making opportunity with a rocky mountain west condo I didn't sell before the last market crash, because I was greedy and delusional. It still stings.  But I don't want to screw ourselves out of living in a known great neighborhood while trying to make up for that money mistake.  How much value would you guys put on making this kind of money vs the certainty of loving where you live? And no, we have no idea where we would move once we sell.

lhamo

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It doesn't sound like you are ready to quit working yet, and you don't know where you would go.   You have a baby and you live across from a good elementary school, and you like your neighborhood.   If the market crashes it will be temporary -- wait it out until the next uptick (2010-11 was pretty much the bottom of the dip, and look what happened since....).

And thank your lucky stars that you aren't trying to BUY in this market!   

lbmustache

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I guess it just depends on how much that $300k is worth to you - do you want to have $300k in your bank account, or is a good neighborhood and neighbors and overall quality of living worth $300k? I'm inclined to go with the latter because I place a high value on those things - but there are many who don't and see no point.

If you have no idea about where you'd move, I'd just stay. The market may dip, but Seattle will still be expensive.

Rosy

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Stay - you are in a perfect location-situation, enjoy it and count your lucky stars:).

pbkmaine

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Stay - you are in a perfect location-situation, enjoy it and count your lucky stars:).

Agree.

redbird

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For your particular situation, it would probably be best to stay. Especially if you have the neighbors that you trust and help you out with your baby.

If I was in your situation, I'd sell and move to a LCOL area, where I could buy a great house in a great neighborhood for cheaper and have plenty of money leftover to throw into the stash. But I'm a pragmatic introvert who doesn't have kids, so my calculus is a lot different than yours.

joonifloofeefloo

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Right now you have $700k and an awesome life, in an awesome location, with a dream neighbour? I would stay put :)     You have enough money now...and the rest are worth gold and not always replicable.

deborah

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MMM is about lifestyle optimization rather than making yourself miserable millionaires. For a different set of answers, go to ERE - early retirement extreme.

pirate_wench

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Thanks for all the input. The life optimization part is definitely where I am struggling. 15 more years of paying $2600 a month before the house is paid off but with neighbors I like, vs paying cash for a house somewhere else therefore retiring now, or a maximum in five years when my husband gets his pension. I think about MMM and finding a lower COL town we could love....The baby calculations simultaneously add heavier weight to the nice neighborhood with nice neighbors AND retiring now to spend more time with him :(

joonifloofeefloo

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15 more years of $2600/mo does sound tricky :(

In that case, I would actually kill the mortgage and move. But, I can't stand having huge payments due every month, and 15 years is too many years of variables and potential wrenches for my happiness.

I do think a great area with great everything -and especially a great neighbour- is worth gold...but for me, pretty much nothing is worth a weight like that one.

lhamo

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Re: Importance of loving your neighbors vs. Making a ton of money selling
« Reply #10 on: July 02, 2017, 09:36:39 AM »
Alternative to staying:

1)Pick another smaller, LCOL community you are interested in living in.  Rent there for a year

2)  Rent out your Seattle house for a year

3)  Compare how you like the two places and decide whether to sell your Seattle place and move to the other community, or try a third location.

aceyou

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Re: Importance of loving your neighbors vs. Making a ton of money selling
« Reply #11 on: July 02, 2017, 07:58:00 PM »
I'd stay.  You're at a point financially where becoming a millionaire is an inevitability.  Having terrific neighbors is never a given, and it's worth so much when you have them.  Congrats and keep it up and enjoy those friends of yours. 

I have dream neighbors that are awesome parents, really fun, and have great kids who our kid's age. 
 My wife and I commented on a walk the other day that if we were suddenly offered a million dollar house or something crazy like that, we'd stay where we are.  It wouldn't replicate the happiness we get from watching our two kids running and jumping through woods 100 feet each day with excitement to see their very best friends.  Or the impromptu cookouts or quick bike rides, quick cayak/paddleboard adventures, watching each other's kids so we can run an errand, and so on.