Question:

My wife and I live in a house worth $300,000. Would I be better to sell and buy a cheaper property in which to live and use the excess money to buy rental property? Or should I stay put and borrow against my home to buy more?

by Guest730  |  6 years, 9 month(s) ago

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My wife and I live in a house worth $300,000. Would I be better to sell and buy a cheaper property in which to live and use the excess money to buy rental property? Or should I stay put and borrow against my home to buy more?

 Tags: 300000, borrow, buy, cheaper, excess, Home, house, live, money, property, rental, sell, stay, wife, worth

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  1. Guest730

     Economically speaking, you should downgrade and put the excess into rental property where you will be able to have more property working for you. However, when you are deciding just how much you want to invest, it's important to take personal considerations into account. You could live in a tent and own 10 investment properties or you can live in a mansion and have nothing else. Somewhere between the two extremes you'll find a happy medium

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