Should I sell my house?
For a family the biggest value after the love for each other is their house.
A side from the sentimental attachment to the house comes the economic value.
“I’ll never sell our house!” you may say and that’s ok if you don’t want to but there could be different reasons that makes you think it’s probably time to sell.
Selling a house takes time, efforts and headaches. You have to get an appraisal, deal with your real estate agent for a potential listing, think and calculate costs for repairs and much more. This is not as easy as you could think, especially when financial contingencies or family issues happen in a very short time so “plan B” is never ready when you need it. Every day routine, too busy to sit down and reflect on your financial situation, sentimental bond to the house, school districts, job distance and many more factors puts you in a situation to postpone these kinds of thoughts, such as: “is it time? I should sell?”
Financial planning to protect you and your family takes a lot of effort, but it is much easier to deal with it when things are still not bad. Consideration like: is it necessary to live in this big house with no kids anymore? Maintenance costs and taxes versus quality of life? Market value trending down? These could make you think that maybe it is time to sell and downsize in a smaller house and in better conditions, in order to keep some cash in a retirement account or saving account without having to take immediate decisions due to critical events.