Would you sell your dream home?

[Thomas Weidner]

More than likely your home is your number one monthly expense. My wife and I are no exception to this. Three years ago we bought our dream home it was a modern farmhouse on a little over an acre of land in the country.  It had great views and was everything we ever wanted.  When we bought it we believed this was going to be our forever home. We absolutely loved this home and have had many good memories there. Over the last year our goals has changed some what. When COVID happened a year ago the oil and gas industry also tanked to the point we had negative oil prices. Well when that happens obviously there isn’t as much production and it goes down the line. I did not get laid off but took a substantial hit by getting demoted and a substantial pay cut. We like so many others were hit pretty hard and had a hard time making ends meet. We did consider selling a year ago but decided not to because we really didn’t know which way the market was going to go. Honestly it went the opposite direction that I thought it was going to go. This opened our eyes to our vulnerability to the market. We did make it through and have since got back into my original position, but it is always in the back of your mind. A year later we have seen what the market has done, so we revisited the idea of selling. We decided to go ahead and take advantage of the market and sell. We figured for our price point and area it may take a bit, well we were wrong again. We listed our home for 470k that we had bought 3 years prior for 325k. We had over 10 showings within the first few days and a full price offer on day 5, which we accepted. We wanted to down size a bit since our children are getting older and a cheaper payment to protect in the future from any down turns in the market in which I work. We also wanted to do more than just sfr that only have minimal cash flow. We want to invest in higher cash flow opportunities such as vacation rentals or multi families. It is hard letting go sometimes when you get to a certain place, but sometimes you must to get to where you want to go! So would you sell your dream home to get to where you wanted to go? Thanks

[Aigo Pyles]

If the situation calls, I would.