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Tag Archives: pros and cons of house selling

Would You Sell Your House If It Meant Debt Freedom?

debt freedom by selling our house

I swear being middle aged has sent me into considering all sorts of financial schemes to pay off debt and become financially independent. First, we were going to try and pay off our house within 5 years. Then, I felt an urge to sell everything and live in an Airstream trailer. Those ideas were probably a little ambitious or just plain nuts, but I can’t shake the seed of an idea that has grown into a real possibility as the housing market is starting to pick up where we live. We could actually sell our house and make enough money to pay off one of our rentals and buy a smaller home outright, which pretty much means debt freedom forever. Should we sell our house to pay off debt? Being the financial blogger that I am, any big decision needs a list of pros and cons, so here we go. Yes, You Should Sell That House! -We owe about $150,000 on our home mortgage. Our house appraised for $375,000 a couple of years ago.  With sales in the area, we could get our appraisal price, but to be conservative, I’d say that we could count on $350,000. That leaves $200,000 ...

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