Quote:
Originally Posted by Mr.HappySilp
I woulnd't call downsizing exactly a good idea. Right now we rented out the basement for around $850 a month. if they were to downsize to say a duplex or a townhouse they won't be abel to rent out any parts of the house so no income in that sense. Not to mention with interest so low downsizing and getting cash seems a bad idea. As the old chinese always say is a must to be a roof under your head.
Real estate might go down but it will always come up (at least looking at the trend).
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i wouldn't say $850 a month is INCOME if a bigger home is costing you more to maintain than downsizing to something smaller.
if the home costs you 3000 per month just to maintain and your rentals are paying you 4000 a month now thats income