WHY WE ARE RENTING AFTER PAYING OFF A MORTGAGE??? ● FRUGAL MINIMALISM

WHY WE ARE RENTING AFTER PAYING OFF A MORTGAGE??? ● FRUGAL MINIMALISM



hey you how's it going hope you having a great day welcome back to my channel today I just wanted to come at you vlog style and from my secondary recording studio isn't it glamorous and so fancy I just picked my kids up from school and I don't really have time for a sit-down video right now so I just wanted to share this information because I've been getting a lot of questions about why we have become renters after 10 years of homeownership a lot of you have been asking why are you renting now and I just wanted to do a quick video to share the reasons why we became renters after 10 years of homeownership and this is not a formal video I'm not going to have 10 tips I'm not going to have 10 reasons why I just wanted to share with you sort of you know the general reason why we did it a lot of people don't understand why we're renting a lot of people don't get the thought process behind it but we went ahead and we paid off our mortgage and after we paid off our mortgage about three years after and I'll link that video below on how we paid off a mortgage in five years after we paid off our mortgage three years into it we thought this is not our forever home this isn't the house that we want to grow old in this isn't the exact neighborhood we want to be in and we were a little bit confused about what to do next so after going through many different scenarios some of those included you know everything from getting approved for a loan and buying another house and you know taking out another loan to get another house we thought geez we're kind of in a rut here because all of our money and all of our equity is tied up in this home and every house believe it or not we were looking for like two and a half years every house that we would look for in every house that we wanted we were basically beat out by investors and they would basically take the home right from under us and it was really discouraging so we thought wow what could we do if we sell this home and we have cash and we become cash buyers and that was really the impetus for why we eventually got our house to be ready to be sold and sold it now that process took about a year and a half the idea came up about a year and a half after we paid our mortgage and a year a half ago we were like you know what we might let's just think about what we can do if we want to sell our house and what we didn't want to do is we didn't want to get into and we didn't want to get into a situation where we had to list our home while we were still living in it and wait for the sale of that home to find another home because we really are trying we were really trying to focus on a specific neighborhood and it was getting really difficult to do that because you know the timing was just too difficult we were really it was almost impossible to find the house that we wanted um in the timeframe that we would take to sell our house so we decided to look for an apartment and we moved out in July of 2016 into an apartment and then we got our house ready to be sold we basically cleared out all of our stuff and we staged it to be sold and it sold in 30 days and we're basically at a point now where our priorities have kind of changed a little bit and I can't share all of our plans right now because we're actually still in the middle of deciding what we want to do we have some plans and I'll be more than happy to share some of those plans with you guys as we get a little bit closer as to what a little bit closer as to the finalization of what our next steps are it's really exciting and I can't wait to be able to share some some of this information with you I can't wait till we finalize what we want to do but yeah we sold our home that we paid off cash and we're renting and it's a great feeling I have to say renting has been such a blessing it's probably you know I rented all my life before this and what's really interesting is that I forgot how cool it is to rent you know so far we had a problem with the a/c and they come and fix it within 24 hours we've had a problem with a leaking toilet and they can within 24 hours and they fix everything and they cater to us and it's beautiful and it's wonderful and it's a great lifestyle and a lot of people said aren't you gonna waste money renting and I just said to them you know the way I'm justifying it is I would rather rent and be able to shop for a home at my own leisure than to have to go out and try to find a home that maybe isn't the home that I want while I'm selling my house and so yeah we've been able to search off market homes we've been able to look at all different kinds of homes because we're a different type of buyer and it's just been amazing so yeah this is not something that's in any of the financial books and I know a lot of people not a lot of you guys watch Dave Ramsey and I know this is like way unorthodox and way out of out of the scope of what Dave Ramsey talks about I I don't really follow any one specific rule and I'm not encouraging anyone to follow me I just have always my husband I've always just kind of followed our own path and done our own thing and yeah um we'll have to see where this journey takes us right now we're still renting it's December 2016 we're still renting and we have some things in the works and it's really exciting and it's a wonderful feeling it's a wonderful feeling to be not only mortgage free completely mortgage free completely debt free but you know renting it's I'm really enjoying it really enjoying it and we were saying you know even if we went for a year to two years we'll see what happens but yeah just stay tuned and let's see what happens in our journey now we don't see it as a waste of money a lot of people say aren't you wasting your money and we see it like we're paying for a service we're not wasting our money we're paying for a service we're paying for a wonderful place to live and we love it so yeah we'll see where this journey takes us so I hope that um I hope that you stay tuned I hope you watch and I hope we'll be able to share with you soon what our plans are okay all right talk to you later bye

32 thoughts on “WHY WE ARE RENTING AFTER PAYING OFF A MORTGAGE??? ● FRUGAL MINIMALISM

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  2. Hi Kim, watching this video gave us the idea. We are looking for our forever home but don't want to be rushed into finding one while we try to sell. I'm just wondering if you have any tips that you learned along the way. Thanks Kim.

  3. Great video! We have done the same! We owned a home for 29 years moved into a rental for 9 months while my husband painted and fixed and got our home ready to sell on his days off it sold within 30 days as well we have just moved into a different rental and still have not decided what we want to do for now just save money and then we may move south!

  4. Wow I just started following you on here and I'm happy I came over. My husband and i have been married for 5 years 6 this year and we're planning on buying land this year to build our home I'm renting a 2 br for 500. My bills are 200. He lives and works overseas so has he's own rent and bills there about 3000. Cost of living is higher were he's located. This video has me questioning our whole game plan cause he makes good money like 14000.monthly and he plans to move back home soon so with our rent at 5oo. And our bills may go up like 350. We could just save travel and live well right. Love your insight HELP!!

  5. Hi Kim,
    I understand your thought process completely because I live in a house for the first time since we were transferred from Canada to the US and there are times where I would like to sell and move into an apartment. I agree with what you said about paying for a service and a lifestyle rather than wasting money. It’s all a matter of perspective. I see it the same way and I, too, have always done my own thing. We have a lot in common.

  6. Why do people feel like they have to explain why they are filming in their car and picking up the kids? You are providing a service in the video, no explanation or self-consciousness necessary. I wish people would feel less self-conscious and less ambling about with preambles and get to the actual meat and potatoes.

  7. A very clever position, Keep your options open, Buy a Bargain, repair it and take a profit.
    Why live in a certain area ? move around buying & selling.
    Sadly people get repossessed, go bankrupt, get old & die etc. all facts of life but many want a very fast sale for these and other reasons, maybe a job abroad, or 300 miles away etc. plenty of reasons for quick cash sale = GRAB a BARGAIN !
    clean it up a little then sit on it until you get full price and don't take a silly low offer .

    You don't need to actually live there yourselves.
    just invest in wise buys, not your personal choice.
    Only what you can handle in D I Y repairs No Big jobs unless you are in the building trade.
    A coat of paint , A new Fence, Some fresh flowers, mow the lawn etc. all simple stuff to make it look good.
    The longer it takes = the more it goes up in value in a rising market, or rising up & coming area.
    Do a house every 3 or 4 years at your leisure no stress no rush, no pressure, chill & enjoy, live in some, for a while , Just enjoy the journey.
    Empty houses look lifeless, a family lived in house looks like HOME when you sell it.
    Never go too large with a house , have 3 houses at £200,000 is better than one at £600,000 in many cases the normal houses sell faster to Mr & Mrs Average, than a big castle to a Movie star etc.
    England UK, we use £. but the same applies here.
    Try never to have a Mortgage, maybe 1 yrs salary hence you can easily pay it . Unless your local area is set to SKYROCKET in value soon due to a new Motorway, or large factory, or new commuter train station etc. then go in early and all in full on if you have the latest info from somewhere local & reliable, Maybe you work for they who are building the factory ? or work on the trains & hear of plans for a new station ? Inside info etc.

  8. We plan on selling our home too. We don't want the responsibility of repairs, renos, grass, snow clearing, etc… We want to enjoy living and doing this with our kids while they are still teenagers.

  9. I like how you contradict yourself in two of your videos. "Paying off the mortgage, the best feeling of my life"… and now "renting is so cool".

    There's no such thing as One size fits all, we all know that, but I'd like to add that there's no such thing as What worked yesterday is guaranteed to work tomorrow.

    Things change around us all the time. Your advice is good ONLY for you at THAT moment…

    I'm glad you're happy whichever situation you are. This is only to show that there's no one method for reaching wealth or financial freedom. It's good to know that even when you play around with a mortgage and rent, you still can raise a family around it and make it in a way that makes you happy – After all, this is the key for happinesss. Happy 2018

  10. That doesn't make sense at all!!! – this goes against all your saving principles… And I used to like your videos. You don't want to spend £2 on a cup of coffee, but You happy to pay that kind of money for "service"(rent) ? Simple example: rent £1600/month(Im in London, UK) , total rent over 4 years paid – £76800. Expenses paid by landlord for "services" : fixing leak in a roof £2500, door replacement £400, yearly gas check setificate 4x£100=£400, total £3300. Now. If I would have owned this property, I would have saved £73500 (minus tax & insurance ) without any effort, just by not paying rent during these 4 years. And I'm not even counting property value increase on average %4-8 per year. Any comments on that? If You want to change the location, just rent this property out and it will cover your rent somewhere else, where You feel like living at that moment. So can someone please explain, how renting instead is a great idea?

  11. you need to get your head checked. DO NOT take her advice. By the time is able to find her home she lost equity in her old home, paid rent to someone , and will now have to pay more for her new home. screwed all directions

  12. I think you made a big mistake by becoming a renter. You are just throwing money out the window. Should of kept the home and rented out to a reliable tenant. Then you could of went out with your husband rented and lived at a different location. This would of gave time for your home to continue to grow in value. I believe you sold your home prematurely.

  13. I just watched a few of your videos, and you are so motivating in the area of frugality! 🙂 This video, especially, was intriguing to me. Thank you for sharing your experience with us!

  14. This is the second video I have watched of you. First was paying off a house in 5 years. I follow Dave Ramsey and i believe he will be impressed with this idea. His philosophy is but cash down. As long as the cash from the first property is being saved to beat inflation then you are on to a winner. Thanks for all the great video. Binge-watching now

  15. I liked your video but it was a bit long. Get the point in the first 5 -10 seconds next time. I skipped around and listen to the last few seconds to learn why your renting.

  16. Very true, functional items can be your home decor.  That's my rule, if it doesn't have a function apart from decor, I don't use it. Your brows look great.  I need to practice more with pedicures!

  17. Renting isn't wasting money you have to LIVE somewhere. With that mentality, then buying an rv and traveling the country is wasting money or buying land and building a tiny home on it is wasting money. We all need shelter what you choose is your decision. Not everyone feel inclined to stay in one place for 10+ years. Nor is buying a home a smart decision in every situation. This is kind of how people stay broke or in debt most of their life.

  18. Also, Can you make a video or talk about he differences between all the different housing options, renting a home, renting an apartment, and buying a home? Like pros and cons

  19. Can you explain the process of selling a house? Like how to know if your house is worth selling? Love your videos btw I'm binge watching them now. Also, how comes you guys didn't rent out the house you paid off so you could be making money of off it while living the apartment ? Just curious! I don't really understand how the process works so if you could explain how to rent houses out to people! That would be so great too! Thank you, I love your vids!

  20. I find your video so refreshing. It's nice to see people make their money work for them. I think it's a great idea to rent. You are giving yourself a lot of flexibility. Hope your dream house shows up when it is suppose too.

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