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[quote=Anonymous]We took out $40K at the end of 2020 to buy during the pandemic. We paid it back within a year. Our house has gone up in value by $550K since then. To drill down on the one year decision, I was very nervous about pulling the money out and missing returns and I was working in television and my contract was up 13 months from when we bought and I didn't want to be in a position where if I didn't resign we had to pay back almost half the loan in one go. Our income has gone up by almost $550K since then so sometimes I'm frustrated we didn't try harder to get a larger home but then I remember we really stretched for what we were making at the time and I had a good friend whose parents' house had been foreclosed on a few years prior so the idea of overbuying was way less appealing than underbuying given that history. It was also a brutal year. We couldn't afford to buy any new furniture and when we had to put $1000 down for our daughter's preschool deposit we could barely make it work. We didn't have money for a $130 museum membership at one point. We had a water heater burst and then had a mouse problem and having Orkin outfit a crawl space in our basement to stop mice from getting in for $2K nearly broke us. So my advice would be don't be so aggressive in your timeline to pay yourself back that everything that might come up with your house or with your kids becomes a nightmare because you are so strapped financially. [/quote]

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