Sold villa in Florida a few months early-the pain

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Locked
Topic Author
heallytim
Posts: 8
Joined: Thu Dec 23, 2021 3:48 pm

Sold villa in Florida a few months early-the pain

Post by heallytim »

In December 2020 I had health issues. We sold our villa in Florida, for a little over $500k. We moved to Michigan to be near kids. Within 2 months they were going for $650, and now $750. My kids said wait a year etc etc, I didn’t listen. The place we bought in Michigan has gone up $70k. I could’ve owned both for a year or forever.
How do I ever get by the daily mental issue from this, nights just suck.
I can’t be the only one who screwed up.
Thanks for letting me vent.
z06ray
Posts: 174
Joined: Tue Jul 09, 2013 11:24 pm

Re: Sold villa in Florida a few months early-the pain

Post by z06ray »

I think you did it in 2020 because it was the right time for you and you got closer to family. Which is terrific! Lots of what ifs. Looks like the delta is ~150k after accounting for gain in Michigan and transaction costs on Florida place. If you are in position to own those houses, I'm sure you have had many more wins than losses throughout your life.

I was watching a video the other day where this guy sold a Ferrari gto for under 10k many many years ago. Today, it's probably worth 70 million ballpark.
User avatar
JoeRetire
Posts: 13315
Joined: Tue Jan 16, 2018 2:44 pm

Re: Sold villa in Florida a few months early-the pain

Post by JoeRetire »

heallytim wrote: Fri Aug 05, 2022 8:35 am How do I ever get by the daily mental issue from this, nights just suck.
You can't change the past, so why fret?
Perhaps you would benefit from a chat with a mental health professional, if it's bothering you that much.
This is gonna be my time. Time to taste the fruits and let the juices drip down my chin. I proclaim this: The Summer of George!
Jack FFR1846
Posts: 15343
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: Sold villa in Florida a few months early-the pain

Post by Jack FFR1846 »

Looking back is easy. What if the prices went down 20% in that time? You'd now be looking back and thinking that you missed a bullet on the sale and should have waited on the purchase. I have a crystal ball I use but it used to run on gas and got updated to run on electricity but I've had to wait for 3 hours to plug into the local charger, so I didn't bother. Otherwise, I'd tell you what the future would hold.
Bogle: Smart Beta is stupid
User avatar
mhc
Posts: 4601
Joined: Mon Apr 04, 2011 10:18 pm
Location: NoCo

Re: Sold villa in Florida a few months early-the pain

Post by mhc »

If this is the biggest screwup in your life, then you have done well.

No one knows the future. Sometimes things work out and sometimes they don't. You really should not put yourself in a position where you think you are in total control of outcomes, because you are not and neither are any of us. All you can do is make the best decision at the time based on the information you have.
manuvns
Posts: 1241
Joined: Wed Jan 02, 2008 2:30 pm

Re: Sold villa in Florida a few months early-the pain

Post by manuvns »

heallytim wrote: Fri Aug 05, 2022 8:35 am In December 2020 I had health issues. We sold our villa in Florida, for a little over $500k. We moved to Michigan to be near kids. Within 2 months they were going for $650, and now $750. My kids said wait a year etc etc, I didn’t listen. The place we bought in Michigan has gone up $70k. I could’ve owned both for a year or forever.
How do I ever get by the daily mental issue from this, nights just suck.
I can’t be the only one who screwed up.
Thanks for letting me vent.
you did what was known at the time , if you have money to pay the bills how does it matter . Life is a series of missed opportunities then you are dead
Thanks!
Californiastate
Posts: 1268
Joined: Thu Feb 04, 2021 11:52 am

Re: Sold villa in Florida a few months early-the pain

Post by Californiastate »

I remember when BRK-A was $430 a share. C'est le vie!
fposte
Posts: 2140
Joined: Mon Sep 02, 2013 1:32 pm

Re: Sold villa in Florida a few months early-the pain

Post by fposte »

heallytim wrote: Fri Aug 05, 2022 8:35 am In December 2020 I had health issues. We sold our villa in Florida, for a little over $500k. We moved to Michigan to be near kids. Within 2 months they were going for $650, and now $750. My kids said wait a year etc etc, I didn’t listen. The place we bought in Michigan has gone up $70k. I could’ve owned both for a year or forever.
How do I ever get by the daily mental issue from this, nights just suck.
I can’t be the only one who screwed up.
Thanks for letting me vent.
Stop looking at prices in both areas, for a start. And you moved to be near your kids! That's worth a lot of money right there, I'd hope.
bbq&qqq
Posts: 18
Joined: Sun Feb 27, 2022 9:53 am

Re: Sold villa in Florida a few months early-the pain

Post by bbq&qqq »

I was following the whole Game Stop thing (I know I know, I don't need a lecture on gambling. Why do you think I joined Bogle Heads) and sold 1,000 shares of GME stock for a $300 loss the 2 weeks before it sky rocketed. Looking back, I would have been smart enough to sell at +$400! *Sarcasm*

What's different with your situation is it wasn't risky gambling but what is the same is that you made a decision based on the data that you had at the time. Hindsight will always be 20/20.
jimmo
Posts: 147
Joined: Sun Mar 03, 2013 11:49 am

Re: Sold villa in Florida a few months early-the pain

Post by jimmo »

I know it's frustrating but it's small potatoes in the grand scheme of things. We've all got real estate shoulda, woulda, couldve stories. There was a really nice property near me that went up for sale in the fall of 2019. It was a unique property that checked all my boxes but I balked at the price. It sold, of course. And now 2-3 years later is worth at least $200K more than the price I balked at. I shake my head every time I drive by it. So it goes.
forwhatiknow
Posts: 21
Joined: Sun Jul 10, 2022 11:21 am

Re: Sold villa in Florida a few months early-the pain

Post by forwhatiknow »

Well here's one for you. I sold my Colorado mountain ski resort townhome just before Covid hit and was happy to do so just shy of 1mil. 5 year return of 350k. Then covid and everyone wanted to get away from the masses. Smaller townhomes in the same plan are going for 1.7mil now 3 years later. It bothers me but who knew and Im outta the long winters 3 years now. Did buy allota Microsoft at 27 a pop years ago so win some lose some, That's life
User avatar
TomatoTomahto
Posts: 14289
Joined: Mon Apr 11, 2011 1:48 pm

Re: Sold villa in Florida a few months early-the pain

Post by TomatoTomahto »

I should have invested in TSLA when I bought my Tesla, I should have invested in ENPH when I bought my Enphase solar and batteries. I don't buy individual stocks, so I didn't.

If I held what I would have invested until today, it would be an upper 8 digit amount. C'est la vie.

I hope your health issues were not heart related, because this kind of shoulda, woulda, coulda isn't good for blood pressure, heart, sleep, etc. Go do something fun.
I get the FI part but not the RE part of FIRE.
User avatar
HomerJ
Posts: 19527
Joined: Fri Jun 06, 2008 12:50 pm

Re: Sold villa in Florida a few months early-the pain

Post by HomerJ »

Hey we've all done it...

We sold two houses in the Midwest in 2020... both are worth more today... so we lost some money there..

But we bought in Arizona in 2020, and good thing we did.. we probaby wouldnt be living there now... since housing is more expensive now..

But we could have kept the small lake condo when we moved and sold it today for an extra $100,000...

Can't dwell on the past...
"The best tools available to us are shovels, not scalpels. Don't get carried away." - vanBogle59
FrugalConservative
Posts: 311
Joined: Thu Aug 17, 2017 9:44 am

Re: Sold villa in Florida a few months early-the pain

Post by FrugalConservative »

Shoulda woulda coulda. Can use that saying for many aspects of life. Could of bought AAPL in single digits, could have bought bitcoin in single digits, could have held the house for another year....get me?
av111
Posts: 470
Joined: Mon Jan 26, 2015 1:27 pm

Re: Sold villa in Florida a few months early-the pain

Post by av111 »

heallytim wrote: Fri Aug 05, 2022 8:35 am In December 2020 I had health issues. We sold our villa in Florida, for a little over $500k. We moved to Michigan to be near kids. Within 2 months they were going for $650, and now $750. My kids said wait a year etc etc, I didn’t listen. The place we bought in Michigan has gone up $70k. I could’ve owned both for a year or forever.
How do I ever get by the daily mental issue from this, nights just suck.
I can’t be the only one who screwed up.
Thanks for letting me vent.
This is easy. I make similar mistakes all the time when I make stock trades that end up with too little profit because I was early or loss because I was late. The only way to get over it is to make more such decisions. Right now you have proven that your crystal ball wasn't tuned right in that one deal. Can you look at all the decisions made over the past year or so and see if the crystal ball was similarly out of tune.. All those left turns on questionable yellow that didn't end up in an accident or a ticket etc. Or other financial decisions made in the time

Solution is to widen the scope of the review over many decisions so you can realize that some of them go well others maybe not as well. That is the nature of the beast
AV111
User avatar
LadyGeek
Site Admin
Posts: 84023
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Sold villa in Florida a few months early-the pain

Post by LadyGeek »

This thread has run its course and is locked (rant). See: Personal Finance
Note that topics must be directly connected to your (or your friend's or family's) financial life. General comments or complaints about these topics will be locked or removed.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
Locked