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Is it a smart move to sell house and buy a new one?

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I am currently staying in a nice apartment in Haleyville, Alabama. I have paid off almost 70% of the mortgage. However, I have to drive for around 3 hours to reach my office. I'm very much tempted to sell my apartment and buy a new house in a better location. Is it a smart move? I will retire in 2014.

Since you are the one driving and know your state, you are the only one who can make that decsion.

Sub: #1 posted on Thu, 10/03/2013 - 15:47

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You say you will retire in 2014 and yet you can't take this effort of driving to your office for just another year? Retirement need not start with a new loan when you've already paid off 70% of the loan. I think it would be a bad decision.

Sub: #2 posted on Thu, 10/03/2013 - 21:42

amy.nickson1986 amy.nickson1986

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Ya its right ,m agree with this,Retirement need not start with a new loan when you've already paid off 70% of the loan. I think it would be a bad decision for this.u need to think another ,and try to do in other way which is good for you as well.

Sub: #3 posted on Sun, 11/10/2013 - 11:57


If you’ve already made 70% payment on mortgage, then it may not be a smart decision to buy a new house when your retirement is knocking at the door. If you’ve managed traveling for 3 hours, then you can manage for a year. It’ll not be a wise decision to sell your present home to buy a new one when your retirement is in 2014.

Sub: #4 posted on Thu, 11/21/2013 - 06:17

Renee Brown Renee Brown

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People buy homes all the time after and right before retirement. That is why they are called retirement communities. Look into a 55 plus community and you can save a lot of money on the value and the terms in most states. Do not think because your are older that buying is out of the question. People are loaded with bad advice for people our age. Reinvest the equity you have and you might even pocket some cash to live on. People live and function well into their years today.

Sub: #5 posted on Thu, 11/21/2013 - 09:47

Frogpatch Frogpatch
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