I moved to DFW in 2005 about a year after law school and immediately purchased what I perceive as an expensive house. I spent way more than I should have and bought way more house than I needed. Like many people my age, I felt that a house was just something you had to buy as soon as you could (and especially when you have kids) and that with my first “real” job, I had made it. That purchase was single handedly the dumbest financial move I’ve ever made. About a year after moving in, the price dropped to a point that I couldn’t liquidate it. It forced me to continue working at high stress, high paying jobs to afford it. Worst of all, I came to believe I really loved the place and couldn’t picture living anywhere else. It was the proverbial golden handcuff. Fast forward eight years later and I believe I can now get out from under it and just walk away. I’m working like a madman to get it on the market and just the thought of getting away from it is liberating. Without owning this home, I’ll have so much more freedom and flexibility. I can live anywhere and choose to reduce my housing payment if I want. I’ve pretty much decided that I will never own a home again or at least own a home that can’t be immediately turned into a rental (multiple exit strategies). I have no idea where I’ll move if I sell it (maybe one of my rentals) but I don’t particularly care. It will definitely be smaller and less expensive.

I’m curious, though, has anyone actually done this before? I’d be interested to hear positive or negative experiences, or even just general thoughts about my plan. I notice a lot of younger people being smart on the front end and purchasing sfrs that can be rentals, but I haven’t really heard much about people doing what I’m doing (correcting their past mistakes). I did read a recent BP blog about an investor who wouldn’t own the house he lived in.
As a final note, it’s a pretty hilarious because anyone I’ve told that I’m selling believes that I’m trading up to the next colossal waste of money. (I had a buddy who lost $100k when he sold his house but then immediately went out and bought another expensive house.) The few people with whom I’ve been honest think I’m nuts.