Now, I’m just sitting here in an airport ruminating on all the stupid/obvious stuff I said or missed/needed direction on. Honestly, will be surprised if I passed and it’s eating me up.
Just posting this for anyone else out there feeling the same— this is horrific. Such a let down.
Should we sell our current home and use the proceeds to pay debt/stay out of debt, etc., or should we keep it as a rental?
Current home:
Mortgage remaining: $345000 (3.4%)
Mortgage payment: $1850
Market value: $430000 (maybe? Market is weird rn)
Rental value: $2300/mo
Other financials:
Basically living paycheck to paycheck now, minimal savings
Will make aprx $500k starting July (extremely stable, excellent life and disability insurance)
Building home, expecting to close mid-August
New mortgage will be aprx $7500/mo
Will likely have 50k or so in move-in costs that can be spread out or added as debt (yard, furniture, appliances)
Student loan debt will be aprx. $1500/mo this year
No other debt
I understand that building a new home so soon is a financially bad decision, but it was the best decision for my kids and wife.