I have joked that for a penny pincher staying in one place is a way to save money! But it's true that moving is a costly business. So think twice before re-locating! For all the fact that we like to travel, my whole family has always liked a settled "home". There is nothing like continuity - it's so reassuring. (And in places with rent-control is sure makes sense to stay put.)
With the way home prices are rising, I agree with you that if you can stay put, stay put. My parents are retired & they purchased their home in a high class suburb of Chicago on one acre for $64,000 in 1978. They were thinking about moving to the next town over to be closer to family but decided to stay put when they found out how much homes (& don't forget real estate taxes!) are going for nowadays - $400,000 & up. I see that you live in L.A. I don't know how anyone outside of the entertainment industry can afford to live there because I watch HGTV & they showcase average homes, not movie star mansions, in L.A. as going for $900,000 on up. It's crazy!
So true. My family thought I was nuts to keep my parents' house after they were gone. It's an old house, built solidly with good materials long before plastic was invented, and it's 4 feet higher than my neighbors down the street. While much of the country is having flooding problems, not me. With the house construction boom, I have new houses around me, but I notice people move in and out a lot. One house has had 4 owners in 8 years. Must be terribly expensive. Just because you could get a big mortgage until recently doesn't mean you should have. Foreclosure is not an economical option. There is nothing so secure as a house you can afford.
It is expensive in more ways than one. How can you put a value on the memories you have in your house? When my wife and I bought our house about 11 years ago, it was with the intention of never moving. Maybe we are old fashioned, but, even with all of it's flaws, I can't imagine leaving our memories behind. There is something wrong with our society when even homes become disposable. In some situations there is not choice, but when it is a choice, how can you choose to move. We need to give our kids roots, a place where they can always return and feel safe no matter how the world treats them.
You are so right. It costs a fortune to move in the UK, on average £15000 (that's Pounds Sterling) with taxes, agents fees, legal fees, etc. So it can be disastrous for your finances to downsize to save money.
On the other hand there are those who feel the need to see what is out there. I am one. I have moved ten times in the last thirty years and that is encluding 4 states. I hate to think of the people and places I would have missed if I had stayed in one place. I wouldn't even rule out moving again if the oportunity came my way.
There are distinct advantages to staying in one home for a long time. You can actually start a savings account for one thing. And most important, we have developed a network of friends who are priceless. We help each other and share meals together. In my childhood I moved often -- more than every two years. I was always the new kid. I wound up going to 20 schools. Permanence means more than I can say.
Add your voice! Click below to comment. ThriftyFun is powered by your wisdom!