At breakfast today, the owner of the restaurant came to our table to talk real estate. She said her last child was now off to school and the family home was suddenly huge.

JoAnn said, “Why don’t you sell and get something smaller?”

Her reply caught me off guard. She explained that she feared the loss of equity growth.

“If I sell and buy something smaller,” she explained, “then my new house would appreciate for less. Plus, we might spend the extra money foolishly if we had a large sum in the bank.”

Isn’t it interesting that money is always a problem? We start off without enough money and then if we are even lucky enough to have extra money, we anguish over what to do with it.

We decided to plant a seed with our restaurateur. Food for thought if you will forgive the pun.

I said, “Why don’t you sell and buy two houses, a smaller one for you and one to rent. Then you can have two homes appreciating while the renter pays off the mortgage.” She thought about it and said maybe she should.

That conversation got me to thinking. Our lady had other options. Because she owns the home she lives in now, she could borrow the money for the smaller home and lease her big home for even more equity growth. We have a grandson who sold his first home to buy his next, but we have a granddaughter who rented her first home and lives in her second.

That’s the wonderful thing about home ownership. It opens up a world of options. Think about it.

those callaways, scottsdale, az, 85254,