A Question For Missus Barefoot

Hi Scott (and Liz),
 
Since 2017, I’ve followed Barefoot to a ‘T’ and managed to purchase a home at the ripe old age of 25. And then in walked the man of my dreams and – BOOM! – love struck! So should I sell my house, or should we borrow on the equity to make our family home dreams come true? I’d do anything for him but I have this little Barefoot voice in the back of my head: safety, safety, safety! Everyone I speak to says, “Never sell”, or “It’s our biggest regret!” I know Liz sold her home to buy the family farm, but does she regret it?

Tina

Hi Tina,
 
First a disclaimer: my wife is a television producer, not a financial adviser (and, even though she’s married to the Barefoot Investor, she cares as much about money as I do about reality television).
 
Still, I dutifully asked her whether she regretted selling her (tiny) studio apartment.
 
Her response: “No, not really.”
 
I’ve often thought it would be nice to still own that tiny little dogbox (with an oven her brother found on the side of the road). Not because it was a good investment, but because it was such a huge achievement … and a great lesson for our kids, especially our daughter.
 
Yet, at the time, we couldn’t comfortably afford to keep both. We were starting a family, and the wisest financial decision was not to take on additional debt and financial stress.
 
We sat down on a Barefoot Date Night, ran the sums, and made an emotional but sensible decision together. That’s the story we’ll tell our kids when they’re older.
 
So that’s the first thing to discuss after you order wine at your next Date Night!

Scott