Monday, July 19, 2010

The Big Question

The most common question I get asked, now that we have sold our house in Michigan, is, "Do you plan to buy a house here in Sioux Center?" The short answer to that question is, "No." Here's why:

1. We did get a good price on our house, given the current economy and the fact that it flooded last summer. Unfortunately, we did not make any money on the deal. That means no money for a down payment on another house. We are okay with that (most of the time :-). There are always risks associated with investing and, obviously, buying a house is an investment. Some times those risks pay off and sometimes they don't.

2. We have been advised that in the current market, we should only buy if we plan to stay in the same house for at least 10 years. That plan doesn't work well for us. Right now, all five kids are living here. In 10 years, our youngest will be graduating from high school. So, what we need now and what we will need in 10 years are two very different things.

3. Finally, houses in Sioux Center are very expensive compared to what we are used to, even considering prices in Holland prior to the drop in the market. We would have to pay more a month for a mortgage than what we currently pay a month in rent. I know that we don't have anything to "show" for our money, like you do with a mortgage, but that doesn't always work out either (see reason #1).

So, we like Sioux Center, but buying a house here just doesn't seem like good stewardship right now. We have a great place to live. It works well for our family. We're happy here. Plus, no one is interesting in packing another box for a long long time.

1 comment:

  1. I personally think your making a wise choice for the moment. You can always change your mind down the road but for the moment you need to take a break from the stress involved with home ownership. Be happy and enjoy you job, your family and especially your children..they are growing sooooo fast and the older boys will probably be off on their own sooner than you think.

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