Should we keep or sell our primary house?
Josh from Albuquerque asks:
My wife and I are currently in the process of paying off our primary home. We will have it paid off in 4 years by the time we are both 40 but we are unsure of the best course of action to take afterwards. We have late model low miles vehicles that we plan to hang onto, and we have no debt of any kind besides the houses.
My job of 15+ years may soon be converting to work from home permanently and my wife should find work relatively easily in her Dental Hygiene field. We currently have a rental property so we were thinking of selling that to get part of our down payment (we would net about $70k-$80k on the sale).
The main question is your opinion on what we should do with our current primary home. We could rent it out or we could sell it.
If we sold it, we likely would use the bulk of it to put forth a larger down payment, pay for moving expenses, and add to our current savings.
We’re looking for a home (not a condo).
We don’t blow money on nightlife, but we do enjoy eating out a couple of times a week.
We enjoy traveling and understand that even if we have the additional money to travel as often as we would like, the geographic isolation will naturally mean less travel than our current level (at least we mainly go to Hawaii or places with a beach lol).
Two additional curve balls: we will likely have another child, and we would also consider Kailua Kona especially if we found a property with the potential for additional rental income. Love your resources and appreciate your time.
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What do you think?