Would you sell your PPOR if it would ease dire financial pressure?

I don't get attached to stuff so I'd nuke the PPOR as soon as it became a sensible course of action.

I'm actually soon to become a renter again anyway.

 

Sold it without any regret. Live in the last surviving IP, no drama whatsoever.

 

It wouldn't bother me to sell but the other half hates renting.

 

Not that I even have a PPOR - I think the answer is there.
But when I was growing up I was very attached to our beautiful house in a bush setting. After 20 years there are lots of memories and a sense of security - even though the cost of the house probably was too much for the olds to handle.
I can understand wanting to stay in a PPOR but at the end of the day, it's attachment and delusion and I like to think I could let go. Children and pets make it harder to go, I think.
When I finally get a PPOR it'll be small and cheap but they'll probably have to carry me out in a coffin.

 

I thought that too, but when it comes down to it; not so easy...especially if you have put a lot of heart and sweat into it...and I'm not that sentimental about any material item as a general rule.

 

Emotional attachment is such a strong thing. If I was in financial stress, would rent the place out and move in with the folks or talk on a boarder for the other room to ease the finance. Too many memories because it was my first, just like a first love. Also, the same for one of my IPs which I used to pop the question to the other half when the reno work was completed. Very hard for me to sell and even told my partner that even if a crazy overseas investor with more money than common sense wanted to buy the property way above market price, I would decline.

 

I am out of step with most of the forum on this one.

I would do everything reasonably possible to save the PPOR. If it meant selling shares, IPs, stamp / coin collections, furniture, do more overtime, second jobetc.

Up until I was about 4 or 5 years old my parents moved just about every 3 months from different rental properties, my siblings went to something like 10-15 different schools each, it was pretty full on.

Growing up as a youngster I dreamed of owning my own place and living a settled life. Fast forward many years I suppose I am a 'prisoner ' of my early thoughts in a way but it does shape how we view the world.

Now, as a man with a family like my dad, I work to ensure my wife is free to bring up our young one in a very settled environment. I actually take pride in doing my bit to provide this and one aspect is owning our PPOR.

I suppose if there was no choice I would sell it but I would do everything I could not to get to that point. Of course, if the things I needed to do adversely impacted my family in other ways (eg, not seeing them enough) it would be a very deep thought process for me indeed.

I suppose I would modify my behaviour before it reached the tipping point whether to sell or not.

I understand the reasons why others would sell the PPOR and respect those positions, again, I suppose my childhood has helped formed the core values that drive me, rightly or wrongly.

All the best

 

I think it'd be easier to sell to ths kids (or take a reverse mortgage on them)

 

Sounds like you've worked hard to "get something" but you don't know how to "enjoy it".

Or your priorities are set up that you're too busy enjoying other things that you just don't care about trying to also enjoy your PPOR.

Personally I would try to keep my PPOR no matter what. Especially after I finish the work I'm doing to it.

I foresee an adjustment period though, where I have to transition from working on things, to enjoying the fruits of my labour. I don't think everyone makes that transition easily. I think I may also struggle with it...

 

Yep. I'd sell it. My PPORs are only transient before becoming IPs. I buy them as IP potential, but live in them while they suit (I've done this 3 times). However, I think we've just bought our last IP-POR, the next one will be the one the hard work was for, and purely a PPOR for the mid-long term.

 

I can't imagine how hard it must have been... something like that will really test you i think...Yet your still here posting and being positive with plans to move on and rebuild your dreams. I really respect your resolve and determination. With an outlook and positive approach that you have, i'm betting you can definitely rebuild your dreams.

 

Been there done that...

Had a business in Wollongong that was quickly trending south. It had accommodation above, I use the term loosely it hot as hell in Summer, so moved in there at no additional cost and sold the house to cover the shortfall.

I commuted to Sydney for work and ran the business on the weekends while Debbie worked part time at a call centre.

 

Isn't Wollongong already south?

 

North of Dapto

 

we don't have PPoR but i cant imagine feelings at such situations!

must be emotional and hard to let go your home!

i would sell everything i have to pay debt off and happily sleep in rented place than worrying about debt that i can't pay!

 

Sheesh! You make it sound like a walk in the park.

 

Why, thankyou kind sir....makes feel better.

 

I just respect rare qualities in people my friend.

 

Yes I would and yes I have.

 

There seems to be a few of us. Hopefully we've all learned our lessons.