Can’t believe people move for the hell of itArchived Message
Posted by CubsWonWorldSeries on October 23, 2023, 11:54:29
Friends of ours just told us they’re moving from the house they’ve lived in for 14 years+.
They put on an addition in 2021. They told us they wanted to lower their mortgage. The house they’re selling is pending for only about $140k more than the house they’re buying. Obviously the new house is going to be financed at a much higher rate than what they’re currently at….can’t imagine their monthly payment is going to go down at all.
The house they’re buying looks to need a lot of work (hello wood paneling and wallpaper).
Their back yard at the new house is bigger, but their current back yard is still decent sized.
The wife teaches at the elementary school 4 houses down from their current house and all 3 of their kids go to school there. The new house will be a 15 minute drive away from school.
The grandparents will be 8 minutes away from their new house compared to 15 minutes away from the current house…closer but still a car ride away not a short walk or bike away.
I understand why some people move within the same town (safety issues, they hate their neighbors, job change, commute change, just want a change, upsize or downsize needs) but this just seems to be a horribly bad financial decision at the current time. I think they got the hard sell from their realtor who also convinced our mutual friends to move about 5 years ago instead of redoing their master bathroom.
I’m just frustrated that our friends are moving further away. Probably the same way Chicago people when their city friends move out to the suburbs.