The Money Mustache Community

Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: FastStache on April 23, 2014, 12:19:56 PM

Title: Downsizing
Post by: FastStache on April 23, 2014, 12:19:56 PM
I just put an offer on a home for slightly under 200K, which may need a few grand in repairs. It will have no HOA, and about 800-1000 less in property taxes. I will be about 3-4 miles from work. I should net about 30-40K from my current home

Don't know if I will get it, but it sure feels good to downsize and work on FIRE. Just wanted to vent.
Title: Re: Downsizing
Post by: Cassie on April 23, 2014, 02:33:44 PM
Good luck with getting the house!  We also downsized 2 years ago & never regretted it. Everything went down-taxes, heat, etc.
Title: Re: Downsizing
Post by: Milspecstache on April 23, 2014, 04:41:48 PM
No HOA and savings on property taxes equates to massive savings over the years.  Even when paid off, homes with HOA fees and high property taxes continue to raise your monthly living costs.
Title: Re: Downsizing
Post by: FastStache on April 25, 2014, 02:04:36 PM
I'm in a multiple offer situation and I put in above the asking price. I'm really hoping I get this property and sell mine for some nice money.