We're downsizing our house & I'm excited!

[EXLIer]

Posted about our house situation a few months back.

We're currently living in a 5,600 sq/ft monster.  It's a beautiful dream house with unbelievable views. I'll miss them, but it's time to simplify our lives and re-prioritze.

Luckily we got into this house for a great price - Short sale on a new, 90% completed house for about $75/ sq/ft. 

We also have our first house we bought which we turned into a rental for sale now.

We're hoping to net between the two sales enough to buy a fairly nice house almost outright - we'll have about a $50K mortgage which I can pay off rather quickly.

It took me a while to get to this point, not wanting to let go of a dream house I put so much sweat equity into.  I built the decks, patios, landscaping, built out a nearly 2800 sq/ft basement with a beautiful custom bathroom, 2 bed rooms, gym and a large play room for our family.

In the end I got tired of maintaining the place and watching things get ruined by negligence of others and occasionally my little children.

Just sharing a mild milestone and my excitement.  Thanks for listening.

[albireo13]

Nice!
We are doing the same thing.  We are selling our 4000 sq-ft house to downsize.
Looking for something in the 2000-2500 sq-ft range with smaller yard and no pool.
I am looking forward to getting my life back instead of spending every weekend being a property caretaker and repairman.

What type/size house are you looking to downsize to?

[benjenn]

We downsized about 2 1/1 years ago and have been living in a 1,200 SF condo since, first in Oklahoma City, then, since retiring last summer, on the beach in Gulf Shores, AL.  We had to get rid of a LOT of stuff but have had no regrets. It's been so liberating.  Plus, no yard work, no pool to take care of, and no outside maintenance.  We take care of the inside and that's it.  It's been wonderful! Once you get past the transition, I think you'll find the same thing.

[EXLIer]

Nice!
We are doing the same thing.  We are selling our 4000 sq-ft house to downsize.
Looking for something in the 2000-2500 sq-ft range with smaller yard and no pool.
I am looking forward to getting my life back instead of spending every weekend being a property caretaker and repairman.

What type/size house are you looking to downsize to?

I hear ya!  I remember when my wife wanted a pool.  I said no way am I increasing my workload.  Take the kids to the community pool!

We're going to a 4BR 3BA house on a .25ac lot.  2200 sq/ft.  I love the full solar system and small but manageable yards.

All done - nothing for me to do other than maintain what's there, which is little and in great shape.  No big projects thankfully.

[EXLIer]

We downsized about 2 1/1 years ago and have been living in a 1,200 SF condo since, first in Oklahoma City, then, since retiring last summer, on the beach in Gulf Shores, AL.  We had to get rid of a LOT of stuff but have had no regrets. It's been so liberating.  Plus, no yard work, no pool to take care of, and no outside maintenance.  We take care of the inside and that's it.  It's been wonderful! Once you get past the transition, I think you'll find the same thing.

Congrats!

We considered a condo, but 1 - There aren't many out here, and 2.  With 2 kids, a dog and a cat, we needed slightly more room.  Plus I need a 3 car garage to store some equipment I use for my business and rentals.

[albireo13]

My wife found a nice house on a small lot, as part of a Homeowner's Association.
I like the house but, I don't like the idea of all the rules and having to be beholden to the HOA.
Plus, the houses are crammed next to each other.

[EXLIer]

My wife found a nice house on a small lot, as part of a Homeowner's Association.
I like the house but, I don't like the idea of all the rules and having to be beholden to the HOA.
Plus, the houses are crammed next to each other.

True.  It's all a compromise.  Out here, outside of HOA's, you have larger lots ( good for buffers, but more land to maintain), but usually you're talking no cable internet, gravel/dirt roads, and other drawbacks. 

We're in a HOA now, and the new house is in another HOA.  I haven't had any issues here, and hopefully I won't at the new place.