Reply to What would it take for you to give up a 2.75% 30 year fixed rate?

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Reply to "What would it take for you to give up a 2.75% 30 year fixed rate?"

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[quote=Anonymous][quote=Anonymous]This conundrum is basically the bane of my existence right now.

I HATE our neighborhood just because it's primarily elderly and we are a young family, neighbors don't engage with one another, not walkable but it's super safe, a fantastic public school district, our house is a large corner lot next to a playground so alas the 3% interest rate is keeping us here.

We both grew up teetering between LMC and MC and just can't get past the mental block of making a poor financial decision and letting go of a $2200 PITI for a 5bd/2ba home in a great school district.[/quote]

As someone who downsized to leave a neighborhood similar to yours for a more walkable neighborhood full of young families, I totally get this conundrum. The quality of life of having young kids to impromptu play with or walk to school with is so nice. And I love being able to walk to shops/parks etc.

Buuuut, not sure if I could stomach that move at today’s rates. We had to downsize and pay more to get into this neighborhood (luckily at a < 3% rate). At 7.5% I’d probably just stay put. Enjoy the space and make friends outside the neighborhood. As kids get older they’ll likely make friends who live farther away since MS and HS boundaries are larger. Also travel sports teams are from all over the county.

Maybe you can make a cool tween/teen hang out space as they get older since you have room?[/quote]

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