> I feel like I am locked into this house and mortgage forever.
Same.
We bought in Dec 2017, and were really conservative in choosing a home that we could easily afford - it was less than my annual income, on a half acre. It's five bedrooms but we really need more storage and just more "space" in general.
We don't plan to sell it in the foreseeable future. Even if we could find the home and property that we want, it just makes no sense. It would be a better financial decision to use the equity as a down payment on our next home and rent this one. Given that home prices have doubled since we bought, renting it at market rates here would pay for our existing mortgage, an equity loan, and ~$400 of positive cashflow per month.
Same.
We bought in Dec 2017, and were really conservative in choosing a home that we could easily afford - it was less than my annual income, on a half acre. It's five bedrooms but we really need more storage and just more "space" in general.
We don't plan to sell it in the foreseeable future. Even if we could find the home and property that we want, it just makes no sense. It would be a better financial decision to use the equity as a down payment on our next home and rent this one. Given that home prices have doubled since we bought, renting it at market rates here would pay for our existing mortgage, an equity loan, and ~$400 of positive cashflow per month.