True, but unless a hydrogen bomb strikes nearby, it's doubtful you will ever actually lose money on the house. You'll make 50k now, depending on your area, that could easily double in afew years.

Plus, then you have to go find another place to live. Unless you are moving into your parent's basement, you will either have to find a much smaller house, or an apartment, to really benefit.

 

As to being single? Well, to me there are two different types of 'single'. There's the young and single. And then there's the not so young and single. Both have a very different long term cause and effect in terms of their actions taken in the here and now.

For me, a lot of variables would come into play when weighing such a decision. If I were single and stood to make 50+K, I'd need to take a look at few things. The first, and most obvious, being my current age. I'd have to ask myself if - at some point down the line - I ever planned on purchasing another home? And if so (again, age plays a factor here), would I want to be tied down to a mortgage in my later years of life? I, for one, wouldn't want to be paying a mortgage well into my 60's if I could help it. Money to be gained aside, I'd also want to take a look at my existing cash position. How would the capital gains impact me? Would this money I'd be earning be parallel to what I already have? Would it be more than I have in the bank already? Would my earning potential be such that I could regain a home with very little effort and cash outlay in the near future should I decide (without exhausting savings and/or retirement monies)? After looking at these and many other situations, I'd have to take a look at my bike and ask the obvious question, "Is it really worth keeping right now? Could I get another one down the line? What steps would I need to take (financially) to acquire another bike in a reasonable period of time all the while keeping my residence?"

Again, not casting any judgment whatsoever. The above are ramblings of what I would do if posed with a similar circumstance. And like I stated in my initial post, so long as one is at peace with one's decision making process, it's all good.

 

Seriously.... I,m not bashing you ,but if you have to ask that question you need to learn more about Money.I,m with you it sucks not to be able to ride.However...They will be making motorcycles in a few years.Keep your property.They stopped making land a looooooonnnnggg time ago.If the market is strong in your area it will continue to escalate in value unlike your Harley.Down the road if work picks up or you get a more lucrative position you will have the financial leverage to get another bike.I had a friend do something similar several years ago only to find out he had spent most of his percieved financial gains on God only knows what. His old home went up another 200+thousand after he sold it.He still has that beautiful car but it resides under a tarp in a carport at the apartment complex he now lives at.His rent is only about 150 dollars a month less than his old house payment! Trust me the house is your best investment!!! Like I said I,m not bashing, just giving you a heads up.Ultimately it's your Life and I wish you the best.

 

I'm selling my Honda 900RR for orthodontic work. Don't want to really do it, but 6k for the work I need done, and the Honda is worth 5k of it. My wife and I have no debt other than my house and 1 car. I don't want another monthly bill even if it's only for 24 months so I am electing to sell a toy. IfI had to sell my Road King to keep my house, in a heartbeat. No doubt about it. Nothing would stop me. I love the hog, but it does not compete to keeping my house, more importantly my wife and daughter happy...

PS-and if I was single, and had a house, it'd be the same answer!

 

an there ya have it....wanna guess what i'd choose(hint, it aint got no bed)

 

keep the house without a doubt! its much easier to get a new bike down the road.

 

hmmm, let me see... shouldn't need a house to keep warm since all i have to do is start the engine and huddle around it, don't need a house for a roof, cuz all i have to do is crawl under the bike. bed? heck, i can just lay across the seat, place to keep my stuff? eh, that's what mom and dad are for. there you have it--sell the house. it makes perfect sense to me.

where's your head man? a toy is a toy and nothing more. even if you have reached a point of diminishing returns on your house, you still have equity. you don't have that with some vehicle that seriously depreciates every year. unless you collect classic vehicles (and even then) these are among the worst investmentsone can make.

 

chromej,

in retrospect, i feel as though i should apologize for being sarcastic. things that seem obvious to me maynot be obvious to someone else. i am sorry.

 

I was having a hard time financially 10 years ago. My house needed a new roof and I did not have the money. I refused to run up a credit card so I sold my sportster. Did I miss it and regret it hell yea, but I just figured I would eventually get on my feet and I would get a bike again. That happened July 21st of 2006 and I would do the same thing again if I had to.

Single people have it even tougher now as the cost of living has gone through the roof. I know you are single but the best thing you can do is sell the bike pay off your debts save as much as you can. No disrespect to you, but in todays world $ 50,000 buys what $25,000 a year did 20 years ago. I bought my house making $45,000 20 years ago, if I still made that today I would only be able to afford a tent!

 

Take a small home equity loan and pay off the bike. Interest will be tax deductible. Find a 20 year old coed to rent a room to for just enough to make the equity loan payments. You will have the house, the bike, and possibly someone to spend your evenings with.