THE SNUGBUS Archive

We're cashing in savings to buy a newer house right now. What about that?

We're right now flipping our beloved home of 30+ years simply because "the city" is/has been crowding around us. Boom box cars, neighbors have either already sold and moved or put their homes up for rent and otherwise bailed to "white flight" areas. And property appraisers take into consideration how many homes are now rentals when rating a neighborhood average property value ft/sq. Ours is declining.

We've just found a quiet place with acreage ourselves out in the white boonies and hope to close before the end of the month. Using our savings to buy the new one, then hope/plan to sell this one the moment we finish the "flip" and to pay the loan we just took out on the new place. Plus some replenishment of the savings.

But wondering maybe replenishing "money" might not be so wise.

What you suggest???

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