Last week I shared a post where I briefly mentioned that we had considered moving. The decision to stay in our blue house was not an easy one, and it was definitely a decision where we considered multiple factors. Arriving at the decision to take on adding two expensive outdoor features (pool and detached garage) was not easy. In fact, we spent years studying the housing market in our area, crunching numbers, and weighing the pros and cons. Ultimately, we decided that moving was not our best option. I’m sure I’m not the only adult who has faced (or is currently) facing life-altering decisions regarding whether or not to sell, so I thought it might be helpful if I shared a few of the deciding reasons we decided to stay.
Location, Location, Location
Our county is fairly large for our area, and moving to a different location within our county would drastically affect where we live. Currently, we can be to the interstate in 7 minutes. Our county has several interstate on ramps in different areas, and the one we live near gives my husband an extra 40 minutes every single day. That time adds up over the course of a week, month, or year. Not only are we near the interstate, we have an easy drive to the interstate with zero traffic lights. We are also five minutes (or less!) away from Walmart, multiple grocery stores, Hobby Lobby, our favorite movie theater, my gym, restaurants, and multiple family members. In my family, we’re the nearest to my grandmother who was just diagnosed with dementia. Knowing that I can be to her in three minutes is priceless. Our subdivision is also just outside of the city limits, but there is one house within our neighborhood inside the city limits. Because of that one house, our entire subdivision is zoned to receive city services without the higher taxes. In addition to all of the above, we have wonderful neighbors and live in a community where I feel safe. All of the homes in our neighborhood are well maintained with spacious lots. I just can’t imagine finding a better location.
There were a lot of numbers that factored into our decision-making process. First, we have a fair bit of equity in our house. This was the trickiest part of the number game to consider. Having equity meant that we could cash in the equity on this house in order to upgrade to a house that met more of our wish list items. (More about our wish list in a moment.) However, equity also meant that we had a safety net and a low monthly mortgage payment. Selling our house and cashing in on the equity was a gamble that I wasn’t willing to take without doing my research first. So, I spent a couple of years watching the market. Housing prices in our county have remained steady – and honestly a little high – for the past few years. Our blue house wasn’t in the best shape when we purchased it, so we bought it for a low price. Finding another low-priced house that met our needs just wasn’t financially feasible. Similarly, purchasing land and building wasn’t fiscally responsible either. Numbers don’t lie, and they were telling me that we needed to stay in our blue house in order to live comfortably within our means.
I should mention that we also considered selling this house, moving into a smaller house, and flipping it for a quick profit. This was not an ideal solution for a number of reasons. First, I don’t want to downsize just to upsize again in a year or so. That would mean storing our furniture or selling it all just to repurchase something similar. Second, neither of us wanted to put in the labor required to flip another house. Getting our house ready to go on the market would take considerable work, and then we’d have to deal with keeping it spotless until it sold. I can’t even imagine having to get our 3 pets out of our house each time someone requested a showing. Then, we’d have to sell things, move, and completely renovate another house while living in it. This is not the quality of life we want for ourselves, so this option was quickly eliminated.
No house is perfect. Even a house built just for us would have flaws. When considering moving, we had to take a hard look at our house and the areas in which we wished it could improve. In no particular order, our wish list for this house included:
- More garage space.
- A larger dining room.
- Separate office space for me.
- A pool.
- A larger laundry room.
- A second living room space for gaming and family gatherings.
However, our blue house has so many wonderful features that I have not seen in similar houses in our area, such as:
- A very large master suite.
- A completely renovated master bathroom that suits our needs and taste.
- A gas stove.
- A perfect location.
- A large, flat corner lot.
- A large, fenced-in yard.
- A color palette, fixtures, and furnishings that we chose for ourselves.
- Just the right amount of square footage.
- Potential to grow.
When you compare the lists, there’s obviously more to love about this house than there is to dislike. Plus, we knew we could overcome the majority our house’s shortcomings through renovations. Adding a pool and detached garage would solve numbers 1, 4, and 5 on our list. We could expand our laundry room into our attached garage if we no longer needed that garage closet space directly on the other side of the laundry room. We can gain a second living room space by finishing the bonus room space above our current garage. And, we can swap my office and dining room spaces if we find that we need more space in those areas. The sunroom I use as my office is long and narrow, which would accommodate our dining room table. The current dining room has more wall space that would help me to gain better office storage while also separating my workspace from our living area better. Alternately, I could use some of the bonus room space for a totally separate office space.
When we thought about our home desires, we realized that we already had everything we needed right here. Not only did our house have the potential to meet all of our wish list items, it just makes financial and practical sense to stay here. In our first house, we tackled every project with the resale value in mind. Even the paint choices in our first house were selected with the future buyer in mind. It paid off, but we never totally felt at home there. In our blue house, we made decisions for us, and it feels like home.