What to do when your house just doesn't "do it" for you anymore

What to do when your house just doesn't "do it" for you anymore

Like a romantic relationship, how we all feel about our homes is about sparks, love, joy, and comfort. It's the place where LIFE happens. When you're in love, there's nowhere you'd rather be than with that person. With a house, you can't wait to get there. Some days it's thrilling, some days it comforting, and even when it gets messy, it's worth every effort to make it shine again. Unlike a relationship, evaluating your love for your home doesn't have all the moral compass issues. SO - when your house doesn't do it for you anymore, you CAN trade it in for another without feeling like a dirtbag. You're allowed to get excited at the prospect of your next great love!

Most of my friends have been in their homes for a number of years. I've been in my home for 9 years now. Many people I know have been in their homes for 5 years or more. During those years, finances were tight in the beginning, but many of us have added another income as kids have gone off to school, and/or one person's career has really fluorished. We all bought at a good time in the real estate market: Prices had not done the crazy price "boom" yet and we thought 7.5 and 8% interest was fabulous! So now, what if I told you you could sell that house - instead of feeling stuck and unable to sell in this market - Make a profit, get an interest rate in the 5%s, AND get a $6500 tax credit from the government ?

Let's say you bought a home in Silverdale in 2004 for $250K. You re-financed and now owe $290K. You get a free CMA from your trusted Realtor and discover that you can more than likely profit $20 - 30,000.00. The house you've been driving by and admiring is now on the market for $450,000.00. You contact your trusted local lender and find out that you qualify for an FHA loan with 3.5% down. That means your down payment is $15,750.00. You now realize you can price your home a little lower, sell it more quickly, and profit $20,000.00 - More than enough to purchase your hot new dream home!

If you still love your home and are willing to work to make it shine on and on and on -by all means, stick by her! If your house just doesn't do it for you anymore, this is a historically great time to buy a home. Prices are down, rates are down, many safe loan programs are still available, and there's cash back from the government on top of it all!