and no, I'm not talking about going to Colorado. As I said before, that option is off the table for us. What I'm considering is - Do we stay in our current house or move into a larger house? Today I began considering a possible refinancing on our current home in lieu of moving. There are pros and cons to each, but we're going to look into refinancing options before we decide to sell. When I brought up refinancing Stephen said he'd actually been thinking about doing that too. We purchased our house right before the market collapsed, so we are on a 6.75% interest rate. Bananas! I know we can get it lower, but we need to research what the closing costs would be. If they're too much, I just assume take our profit on this house and use it towards a bigger place. Lots to consider. If we stay there's a laundry list of updates I'd like to make. We're in a crowded 3/2 right now, but perhaps we could rework some spaces to free up space.
Decisions, decisions.
Idk about the market there, but maybe do the research and see what your current payment and the new payment would equate to in a new (to you) home. I know you have an "in" with renovation, but it's hard to add square footage, and I know space is an issue for you. Maybe E can move rooms to not be amid grand central station, or maybe you can add on a screened porch or insulated/cooled sunroom for a playroom... My personal vote is to move, but I think my own desire for a newer home biases me a touch. ;)
ReplyDeleteSame boat for us... not far from paying it off, it's almost too small (but almost just the right size). I think if we had two living spaces (living room & den), all would be fine. The more we do to fix it up, the more I like it, but...
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