RetroFed Forum

Welcome to the nostalgia-filled piefed instance of yesteryear.

Open Registration with Application questionnaire.

If you have a question or comment you can post in !meta@retrofed.com or message @DosDude@retrofed.com or @Die4Ever@retrofed.com

In case of downtime and/or emergency, we will post updates on @DosDude@mastodon.social

Some rules we try to uphold:

Be civil. Bigotry is not welcome. This includes (but is not limited to): transphobia, queerphobia, racism, ageism and ableism. We do not promote hate.
Communities need to be Retro or Retro-adjacent.
Please don't upload pornographic content. (use an external image host for that)

mike_wooskey@lemmy.thewooskeys.com Joined: 2024-06-03

I own a house/land outright (as much as a government will let you own anything): I have no mortgage or liens. For the sake of ease, let's use a nice round number and say that the house is worth $100,000.

I'm interesting in buying a different house/land in another area.

One option would be to use the equity I have in my current house towards the purchase of a second house. I'd end up with 2 houses.

Another option would be to sell my current house and then buy the new house. I'd end up with 1 house.

What are financial advantages and disadvantages of those options? Are there other options?

I appreciate your thoughts and insight.

Welcome to the nostalgia-filled piefed instance of yesteryear.

Open Registration with Application questionnaire.

If you have a question or comment you can post in !meta@retrofed.com or message @DosDude@retrofed.com or @Die4Ever@retrofed.com

In case of downtime and/or emergency, we will post updates on @DosDude@mastodon.social

Some rules we try to uphold:

Be civil. Bigotry is not welcome. This includes (but is not limited to): transphobia, queerphobia, racism, ageism and ableism. We do not promote hate.
Communities need to be Retro or Retro-adjacent.
Please don't upload pornographic content. (use an external image host for that)