We Sold the House | No More Mortgage and No More Debt...
After living in our new house for a short time, we decided to sell. We're 100% debt free again now that we have no mortgage.
14 months ago we did a brand new house tour of our first home. We were extremely excited not only to get into a place of our own, but also to get out of the environment we were living in prior. A lot has happened since then, and unfortunately some circumstances that were out of our control ultimately forced our hand into selling. It wasn't something we necessarily wanted to do, but we felt like it would be the best decision for us.
Out of respect for our privacy, we're keeping the biggest reasons for selling to ourselves for the time being. We may go through them in another video, but in this video we go through some smaller things that helped us in our decision to sell.
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Пікірлер: 119
I bought a brand new 16x60 mobile home 10 years ago with cash I had from equity in selling my home. I’ve been mortgage free for 10 years and it’s awesome. I’d never ever ever go back to having a mortgage. So much freedom. And literally I could put the axles and wheels back on this baby and drag her anywhere I choose to go, should that be the path life takes me. ❤
@bobbyball1057
4 ай бұрын
This is awesome! How do s life now?
This is a perspective that many anxious home owners to be needs to see. Do whatever makes you happy and free.
I stressed myself out cleaning house and doing yard work for years...Selling my house, paying off debt and renting...a new start
@Devlins10
5 ай бұрын
How is it going? I'm thinking of doing the same.
@The-Last-Winner
4 ай бұрын
@blackprimetoys7090 Did you have anxiety about the decision you made at the time
I owned a house in the suburbs and it wasn't for me. I'm a city slicker through and through - I need noise, people around, not much driving (I use public transportation - light rail commute to to work) etc. I sold and bought a condo in the city. Probably not optimal as I loved being a renter (fewer responsibilities). I see nothing wrong with renting. Owning is not all that it's cracked up to be, and making decisions entirely based on the idea you will maximize equity is not the end all and be all. I love the simplicity of apartment living. I love small spaces - forces me to live minimally, economize, and not buy lots of useless stuff, etc.
I love how honest you are with yourselves. Buying a house and realizing it didnt fit you, is what more people need to be made aware of. Happy you guys noticed that and talked about changing it. Life is worth living happy...... Congrats on the new apartment.
First video back since late last year Brittany looks WAY more comfortable in front of the camera. You guys had a really nice back and forth. Buy low, sell high! Good luck with the next chapter!
What I love about this is that it shows you can change things up in your life - a decision doesn’t have to be permanent! I think we feel too often like when we decide something, we can’t change our minds at any point (like your career or where you want to live, for example). But this helps to show that you can always change things up if you want to (I do believe there are some exceptions, but that’s neither here nor there at this time ☺️)! Doing so may require quite a bit of work on your part, depending on what it is, but it can be done! Thanks for the update - and that’s super amazing that you made so much back from your initial investment AND are debt free! Love it!
God those hour commutes suck, my University is 40 minutes without traffic and with it’s over an hour on the toll with traffic. It’s a toll on your mindset and a time suck of 2 hours, I totally get it.
Doubling your money and no debt is reason enough! Glad you could take advantage of this crazy market. 😊
I never wanted to own a house. I have to be able to move quickly if and when opportunities come up. Plus, I'm lazy! Hate yard work with a passion!!!
@MikeandBrit
3 жыл бұрын
Yeah yard work isn't for everyone. Wasn't for Mike either lol
@vascularlab
2 жыл бұрын
I love your honesty jay
I could live in a great 450 square foot studio apartment on 3rd floor, and I did - until the neighbor noises drove me away! Now I'm saving to hopefully build a barn or big garage, with living quarters @ my paid for large acreage.
LOL...I never know what y'all are up to next. I love it.
@MikeandBrit
3 жыл бұрын
Sometimes we don't either, haha
Glad you guys really decided what worked for you! What an update! 😊
You have to do whats right for you guys! At least you didn't buy loads of furniture to fill the old place lol Best of luck though 👍
@MikeandBrit
3 жыл бұрын
We were thinking the same thing regarding the furniture lol
Wow! This is huge but do what's best for you guys! I'll still be here following your journey!
@MikeandBrit
3 жыл бұрын
Thanks so much!
Good for you for getting clear on what is important for you. Who knows, house prices may take a dip, and you'll have gained both ways!
Love your reasons! Interesting video!
Great video! You can tell how much more comfortable Brit is around the camera since the earlier days. She is killing it!
Happy to hear that you guys were able to benefit out of the hot market !! Congrats !!
Love to see you guys following your dreams! Also, I would love to see an apartment tour!!
I totally agree with all of this. I did the hour drive one way to work for 16 years. I eventually took a lesser paying job to work close to home. I don’t regret it one bit. We have owned several different homes and a condo. I must say I loved condo living, no yard work or outside upkeep, and a smaller space. We are currently renting a townhouse that we have to maintain the yard and I’m ready to find an apartment or another condo to eliminate the yard. We are also paying for pest control here and that was an expensive I’ve never had before. I do like the freedom of being able to move when I want and well as being debt free. Freedom and peace of mind is priceless. Thank you for making this video.
Thanks for sharing 👍🏾!!! You have to do what is best for you. Best Wishes!!!
You all listed a bunch of reasons that I am sure you knew before moving in, I.e distance to grocery store, space, commute, etc. However, I love that you ultimately made the decision best for you. Good luck!
Well... alrighty then! You have to do what you have to do. Sound reasoning as you explained it. Best wishes on the new chapter here!
@MikeandBrit
3 жыл бұрын
Yeah, it wasn't something we wanted to do per se, but we felt it was best. Thanks for the well wishes, Chris!
Thanks for sharing video !! Hope you got a better deal while selling since the market is so hot right now.
@MikeandBrit
3 жыл бұрын
Hey thanks Neeraj we appreciate it!
Can you expand on the process of listing / timing / apartment hunting? Home ownership has me exhausted and stressed out as a solo mom and I’m planning to make the move ASAP! ❤ thank you for sharing this journey!
You both gotta do what is best for you and that's it! Don't worry about what ppl on here will think of you. At the end of the day that doesn't matter at all... you have to do what makes sense for you and what makes you happy! I am happy for you both and wish you both all the best!! Looking forward to the apt tour and the breakdown in expenses. 🙌🏽🙌🏽🙌🏽
@MikeandBrit
3 жыл бұрын
Thanks 😊
Good for you guys!
@MikeandBrit
3 жыл бұрын
Thanks! Wasn't exactly something we wanted to do, but we felt it was the best decision.
Happy for you guys! 😊 We want to sell our house in Iowa and move to FL to rent for a bit. We would be completely debt free and never shoveling snow again!!!
I’m thinking about this but I’m scared Of rising rent prices and not having any equity
I am looking to buy a home and you have given tons of great advice. Thanks
Good for you!!!! I sold my house in Buford in a weekend a few years ago. The area is desirable! But yes the drive (only to norcross) could take 30 min or could take an hour. Every day it was insane. Ugh. We have a new build in Florida now but want to move to a townhouse somewhere even more south so we’ll see.. hopefully we can get $$ cuz we’ll need it to move to south Florida. We also want to downsize/no yard/house maintenance. Good luck to you guys!!!!! 👍🏼👍🏼💕💕
@MikeandBrit
3 жыл бұрын
What area of Florida are you living in now? We were looking at maybe the Jacksonville or Sarasota area
Apartment, house, barn yard, I will totally still watch y’all’s videos!!! They have been very helpful for myself and my older sister as well, especially your credit card video and first time home buyer video with y’all’s experience! Really appreciate it, and hey you can’t give the world all y’all’s business, gotta leave some wonder out there for us lol sounds like y’all are happy to be back as renters which I am waiting til I am absolutely ready to buy a house myself...I want a big space but I am soooo use to the apartment living...I have to say it’s been about 7-8 years in an apartment and I don’t mind it lol sorry for long paragraph, I’m a talker 🤓😁😆 great video! Cant wait for next one ☝️
@MikeandBrit
3 жыл бұрын
We're so glad our videos have been helpful!! Yeah apartments can be pretty good if you find one that suits your taste!
@GGsNails
3 жыл бұрын
@@MikeandBrit so I have a question, and I completely understand if you do not wish to share the answer...so y’all went through what I am afraid of going through, the whole buying and dealing with everything that comes with buying a house just to have factors make you sale and move back to apartment...do you regret going through the process in the first place and now that your back in apartment and know what you are looking for, will you try again but slower to ensure you get all factors you want? I hope that makes sense
@MikeandBrit
3 жыл бұрын
We don't regret it at all. There are pro's and con's both ways with home ownership and apartment renting. The funny thing was, we thought we had "all the boxes checked" with the house. The unforeseen circumstances that came up had nothing to do with the house itself. If not for those, we'd probably still be living there, even though the smaller things we mentioned in the video were a little annoying. Especially the commute. At the end of the day, we gained a lot of first hand experience and learned more about ourselves. We also came out ahead financially. We may feel differently if the housing market weren't the way it is currently, however.
@GGsNails
3 жыл бұрын
@@MikeandBrit thank you!!!...hmm now I have some things to think about. Thank you for answering 🤓
Sounds like you guys made the right choice! Take advantage of the market while you can too is a real bonus. All the best.
@MikeandBrit
3 жыл бұрын
Thanks Carla🙏
Congrats!
@MikeandBrit
3 жыл бұрын
Thank you!
Smart move to sell when house prices are booming! Congrats!
Best lesson learned...life is constantly changing and it's okay.🙏👍💞
Whoop! Debt free!
@MikeandBrit
3 жыл бұрын
Once more haha
I totally respect not sharing everything. I’m usually amazed how specifically open people are. I never could be. Your channel is still great without it ;)
Ah man, super bummed but I don't blame you guys, long commutes are a "B". Possible if you guys could do the selling process, the realtor, commission, etc. Thought you guys might loose out because you guys didn't lived there long enough, glad things worked out and made out like a bandit. 🤙
@MikeandBrit
3 жыл бұрын
Yeah it's a little bitter sweet
Buying the house doesn't seem like a thought through decision now that you have so many reasons for selling.
@s1atan
3 жыл бұрын
Yeah. But they got lucky with hot market for sell so it works out well. But thats definitely things that everybody needs to think about before buying. Let the house fever cool down! :)
We still 💘 you!!
@slimdawgwoof
3 жыл бұрын
Wishing you both all the best. You are good people and I'm rooting for you guys.
I'm thinking of selling my house. Not sure where I will live though.
Wow! Major move!!
@MikeandBrit
3 жыл бұрын
Very, haha. Wasn't exactly something we wanted to do but we felt it was best
It is your choice to sell whenever you want no reason to apologize.
I do want to own. I don't want to be 80 and renting. But I would consider buying a condo or townhouse for a bit less upkeep
What do you think about real estate investing now that you’ve owned a home that went up in value and sold it and made a profit?
You aren’t obligated to tell us anything. Those reasons are as valid as any.
Wow!
The $100 I pay for yard maintenance is nothing when you have no mortgage payment. Retired my debt in 10 years.
Whats great about the USA you can live in the middle of know where( sounds like where u purchased your home) or you could live in a large city... i live 20 minutes from beach in Los Angeles but one hour to work on the LA freeway is nothing. Some people travel 2 to 3 hours to work in LA.
I live in Asia. It is so much fun, the grocery stores is nearby. Hypermarket also nearby. And I live in landed property. I got a very big storeroom. I got a garden to plant things. Apartment is so small, not enough space to keep stuff. How much does your 850 sq feet apartment cost? Is it very expensive?
@MikeandBrit
3 жыл бұрын
Check out our latest video, we go through the numbers 👍
im thinking of selling after living in my house 4years. the property taxes .all the other fees i feel like im drowning in debt .having it..
We don't hate you guys! We recently sold our home last month (right at our 2 month mark) for a lot of the same reasons you guys did. Our distance to the city was about an hour, the area wasn't our "forever" home area, distance from our daughter's school/family was far, etc. We purchased our home in 2019 in the low $190's and was able to sell it for close to $280k!! Our #1 reason was to absolutely take advantage of this hot market! Now we are renting for the next 4 months to build again in the city close to our family using all the wonderful equity we gained! You guys are doing what is best for you so I'm so happy for you guys!!!! I keep reminding myself that apartment living is temporary; you guys will live in your dream location soon!
@moneybee
3 жыл бұрын
Wow, talk about fast appreciation! Well done with that sell, you were able to figure out what you wanted, and made a massive profit! Keep up that great work! 😊
Will join be able to save for your forever home while renting? Also, how negatively, if any, will renting affect you tax wise vs home ownership?
@MikeandBrit
3 жыл бұрын
We're still trying to decide when the time for another house will be. We eventually want to own again but we don't want to buy in a market like this. In terms of taxes, we thought we'd be able to write off the interest on the mortgage (we could have if we wanted to). But the deduction just for being married was way larger than the interest was. So we went with that one instead. Couldn't take both unfortunately. So, tax wise, things won't be much different here.
Come to Florida!!! 🥰🥰🥰
Good for you: getting a better commute and roi.
This is exactly why I would rather be a renter than a homeowner. I would rather work than waste all this time on upkeep of a house. I never understood why owning a house is supposed to be so much better.
@richardneville3731
3 жыл бұрын
Average home value went up by $80,000 over the last 10 years. That is a very compelling reason. Most people have 30 year fixed expenses in there mortgage. Rent will increase as cost of living goes up. You can also look at the average self worth of a renter compared to an owner. Just follow the money.
Before you spend a gazillion in Hawaii please go check out Thailand, Mayalasian, Mexico coast etc that may offer what your looking for. With that said great on making a good change in your life people often overlook a good location to live in. And as a nurse Britt should be able to live wherever she wants. Good luck
@MikeandBrit
3 жыл бұрын
Good suggestion!
But now your are throwing money away???
Did y’all think any of this thru when purchasing home other than jus thinking of saving up for a home and going off to buy one?
@MikeandBrit
2 жыл бұрын
Like was said in the video, we're keeping our main reason for selling private. At least for the time being. But it was a huge reason and unfortunately something we didn't think about. We don't imagine it's very common. Everything discussed in this video were much smaller considerations that played a part in our decision to move, but not the driving force.
How does the rent compare to the mortgage + HOA fees?
@MikeandBrit
3 жыл бұрын
It's more when compared to just those two items, but it's less than what we were paying if yard maintenance an pest control etc. are included.
30 mins is a long commute 😂
Yeah man, you guys bought a house too big! I hate big houses. Have you guys ever considered owning a duplex? Rent one part out, live in the other? For us, 750 sqft is massive, but I like having a garage and depending on location, if possible, a basement for stuff. Good luck in Hawaii, nice weather, nice beaches, but I like Florida more.
@MikeandBrit
3 жыл бұрын
We like the idea of house hacking in a duplex, but unfortunately couldn't afford it in our area unless we put our safety at risk.
@ForwardGuidance
3 жыл бұрын
@@MikeandBrit Yeah, sometimes the duplex or multi-unit world isn't in the safest place in town.
Ahhhhhh. Found it.
How would one even begin to research for an apt or condo with concrete floors? As well as great insulation???
@MikeandBrit
2 жыл бұрын
We just asked how the complex was built. There's also a noticeable difference how it feels waking around, compared to our last apartment.
@RR-ur4kz
2 жыл бұрын
@@MikeandBrit - Well, that's simple enough 😊. I was told to check out condos because floors are concrete. I want to avoid neighbor noise from above and below.
Now, might be a good time to sell: certainly a buyer’s market!
@MikeandBrit
3 жыл бұрын
it's an incredible time to sell
@harmonyranay07
3 жыл бұрын
@BigRec Red definitely sellers market
@conureron3792
3 жыл бұрын
@BigRec Red - yep, I mis-spoke, for sure! Ha! Major Brain malfunction! Meant sellers market!
What!?! 🍿😲
Are rents going up on you guys?
@MikeandBrit
2 ай бұрын
Thankfully not this year
Interesting changes! I commuted an hour each way for over 15 years for my job. It just became part of life. I didn't like it but sometimes you have to do what you have to do.
So you are renting now?
@MikeandBrit
3 жыл бұрын
Yes
Where you would live????
So you went rural and didn't like it.
Paying rent isn't debt free living.
@MikeandBrit
2 жыл бұрын
Depends on how debt is defined. We view debt as borrowed money from someone else, not necessarily owing rent every month. We're not borrowing money to do that. That being said, the thought of having a paid off house is MUCH more attractive to us than renting.
@roswellramseur621
2 жыл бұрын
@@MikeandBrit see your point,but my view of debt free is owning everything and nothing can be taken away if you don't pay the appt.can be taken. Great vid though thanks for sharing your knowledge 👍
Why didn't you guys rent the house? Having property is always an investment. It could have at least been paying for itself.
I’m guessing section 8 came into your development 🧐🤔