Reply to Trying to get over the over priced house we just bought

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[quote=Anonymous]OP, I totally get what you're saying.  I think you've posted in a couple of other threads.

There really is absolutely and positively NO way to know if you did in fact "overpay."  I've been through what you're going through now, and I realized that no one can really say at any given time that they're house is worth X amount.

I always get irritated when people say "my house is worth X because the house down the street just sold for X."  Well, I saw houses in my neighborhood sell for high amounts and then houses in the same neighborhood sit for MONTHS at a price lower than that amount.

You're house is only worth what someone will pay for it.  You can use comps, et cetera, to make a guess, but it is still just a guess.

I've also seen people all in a fuss over tax assessments being lowered, because they were under the mistaken notion that tax assessments reflect market value.  The two have NOTHING to do with each other.

Where I am going with this?  I'm telling you that you may think you "overpaid," but you don't know that.  The only way you would know is if you tried to sell your house right now and no one would buy it for that price.

but you're not going to sell it.  So you will NEVER know if you overpaid.

Why obsess over something you don't even know for certain and will not know with any certainty?  It's a waste of energy and time.

You can afford the house, it meets your needs, and you are not planning on selling any time in the near future.  If all of those things are true, then stop focusing on whether you "overpaid."  In fact, my advice is to stop focusing on what your house is worth.

I watched for the last decade as people delighted in their house being worth X amount and then people grieving over their house losing Y amount in value.  And these are people who weren't planning on selling and haven't sold.  It's all sort of ridiculous.

You have to let it go.  [/quote]

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