The reported value was 2.6M, because we originally purchased it 20 years ago and we live in the Bay Area which has insane RE valuation. Where we live 900sf starter homes are going for 1M so it’s not like we are moguls. We don’t have a ton of equity in it due to years of refinancing (mostly for better interest rates). Our property is our retirement, and where we have invested our hard-earned money (and believe me when I say our line of work is very hard). That is why we don’t have other investment vehicles. Not claiming to be financial geniuses here, just looking for some thoughts as first-time college parents. Thanks for the non-judgmental help.
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