Very long story short, I bought my house fresh out of college. I purchased it for around $104,000 or so. It's a small house with about 1200 sq ft. I bought a house because everyone insisted that renting was throwing my money away.
However, when I really started crunching the numbers, I am starting to wonder if this is really the case. Due to the obscene mortgage insurance and interest rate, I have only paid 12k down on the principle since February of 2014. The house has only appreciated to $119,000 according to a letter I got from the county.
In that time, I have spent $4.8k on a new HVAC system, $2200 on flooring, $2k on new appliances and not insignificant amount on paint. It was a fixer-upper.
I am seriously considering selling and moving into an apartment. The upkeep, lawn care, etc. doesn't seem worth it for the paltry amount that I can sell it for. I live alone and have no pets. What's the point of having a house in my situation? It's just a money sink. I would be perfectly happy with a bedroom and a tiny living room - half the rooms I have are a waste. Apartments in my area like that are <$700 a month in a very nice area. My house is in the middle of nowhere and I am sick of driving 30-45 minutes to get anywhere.
Any advice?
Submitted February 24, 2019 at 04:03AM by Avarria587 https://ift.tt/2SmSjmz
