Quote:
Originally Posted by DionPlett
I've been wondering about real estate values myself the last little while. When I bought my house in 2007 it had increased in value 150k from the time it was built in 2005. I'm wondering if I shouldn't sell it because I actually think that the value could drop by pretty close to that same 150k.
I also have more than 40k in consumer debt but I could sell my house and be debt free but you still have to live somewhere. It's a bit of a dilema right now for me but I think that once you get to a certain stage in your life, have a house and vehicle, you're going to have debt at some time.
The recession effected me quite a bit as far as my income goes. How common is it for people to sell out and become debt free and basically start over again.
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Don't know how common it is but I did just that... Only I had to move to a small community to do it...
Basically sold everything, paid everything, paid cash for a small house in a small community. The only expenses I have now are the utility bills, insurance kinda stuff. It allowed me to start my own business and not have to worry about how I'm gonna keep making my payments for things. I have to make very little to come out ahead now that I'm not working for my stuff... I'm making roughly 15% of the income yearly I was making in calgary and at the end of the day I come out with more money in the bank then I ever did in calgary..
I have infinatly less stress, and my desire for things has basically disappeared. Living with very little stress free is worth way more then living with everything you want and full of stress...
I'm never owing a cent to anyone again, If I can't pay cash for it I don't need/want it