Anonymous
12/07/2023 16:49
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Anonymous wrote:Only retirement, in which case I would sell my house and buy something at the ocean for cash.
I already live in my ideal neighborhood in the DMV in a house that is great and big enough. 2.5%. It would take A LOT.
Bad move. The planet is warming and sea levels are rising, you don't want to be coastal.
Anonymous
12/07/2023 16:46
Subject: Re:What would it take for you to give up a 2.75% 30 year fixed rate?
A price on the "something else" that I can actually afford at the higher rates with the equity from my existing home.
Right now, anything we'd buy simply costs too much to afford to sell. We'd have to pay not only the higher prices compared to when we purchased in 2014, but also a rate that is 3x what we have on our current home. The math doesn't work. Even with the added equity, I'd need another thousand a month. No. Not worth it.
Right now, anything we'd buy simply costs too much to afford to sell. We'd have to pay not only the higher prices compared to when we purchased in 2014, but also a rate that is 3x what we have on our current home. The math doesn't work. Even with the added equity, I'd need another thousand a month. No. Not worth it.
Anonymous
12/07/2023 16:45
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Practically, nothing would make me move.
If we divorced, we would keep the house so the kids can remain in it with one of the parents.
If we moved for a job, we’d keep the house and rent it out because it’s kicking off very nice cash flow and 2.75% is basically free money. We have another down payment already saved up right now in liquid accounts.
The only thing that would get me to sell it is if someone made me a crazy offer. Like 35%+ over fair market value.
But in reality, I can’t envision us needing the equity.
If we divorced, we would keep the house so the kids can remain in it with one of the parents.
If we moved for a job, we’d keep the house and rent it out because it’s kicking off very nice cash flow and 2.75% is basically free money. We have another down payment already saved up right now in liquid accounts.
The only thing that would get me to sell it is if someone made me a crazy offer. Like 35%+ over fair market value.
But in reality, I can’t envision us needing the equity.
Anonymous
12/07/2023 16:44
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Retirement and the ability to move elsewhere in the world
Anonymous
12/07/2023 16:27
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
The right price on the right new house. Probably prices would have to come down from where they are now. I know I'd get less for my current house too.
Anonymous
12/07/2023 16:05
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
If someone offered me the right amount of money, I'd happily give up exactly this rate and move, even though I don't otherwise have any plans to do that any time soon. It would have to be well over what I'd expect the house to sell for, though, so ... I don't think this is going to happen. But you never know!
Anonymous
12/07/2023 15:49
Subject: Re:What would it take for you to give up a 2.75% 30 year fixed rate?
Family emergency requiring us to uproot our lives or winning the lotto.
Anonymous
12/07/2023 15:47
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Winning the lottery
Financial ruin (DH and I both lose jobs….though even in that scenario we could rent our house for $5k/month easily and our mortgage is $3k, so it would make more sense to move out and rent it)
Financial ruin (DH and I both lose jobs….though even in that scenario we could rent our house for $5k/month easily and our mortgage is $3k, so it would make more sense to move out and rent it)
Anonymous
12/07/2023 15:45
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Winning the lottery so that money doesn’t matter.
Anonymous
12/07/2023 15:44
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Only retirement, in which case I would sell my house and buy something at the ocean for cash.
I already live in my ideal neighborhood in the DMV in a house that is great and big enough. 2.5%. It would take A LOT.
I already live in my ideal neighborhood in the DMV in a house that is great and big enough. 2.5%. It would take A LOT.
Anonymous
12/07/2023 15:40
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Any number of things…
Downsizing, divorce, better job somewhere else that paid more, need more space, etc.
Downsizing, divorce, better job somewhere else that paid more, need more space, etc.
Anonymous
12/07/2023 15:35
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Finding a place I couldn't say no to. A family event that made me leave where I live now.
Anonymous
12/07/2023 15:35
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Lottery-odds job offer in a different, lower cost of living city. That's our exact situation right now. Interest rates won't matter because we won't need to take out a mortgage for the new house.
Anonymous
12/07/2023 15:34
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
Anonymous wrote:What would it take you to sell and buy something else?
Wanting to move.
Anonymous
12/07/2023 15:28
Subject: What would it take for you to give up a 2.75% 30 year fixed rate?
What would it take you to sell and buy something else?