Steve, my closing costs were about half of what you estimate (tisk, tisk, don’t you know what closing costs are?) My moving costs were $1K with the help of a moving company, and my tax deduction is cancelled out by no longer having to pay property taxes. My rent is $800/month less than my mortgage, and I save $500/month no longer shopping at Home Depot. My husband has so much more free time for the family, and we live closer to town saving $250 per month in gas and spending less time driving (6 hours per week for me and the kids) My daughter can walk to her dance class, instead of me driving for 30 minutes each way and waiting for 1 hour for her to finish. My kids ride their bikes now, and couldn’t before because it was too hilly on our street.
My life is so much better since I sold my house! Oh, and I forgot the big bucks I’m earning in interest on my CDs, from the equity I had in my house. Oh, and I have no debts, because I paid off my credit card when I sold my house. But I should stop now – I’m just bragging… meanwhile, you are a debt slave to a rapidly depreciating asset.
By the way, haven’t you learned anything about the cyclical nature of real estate?
