I am debt-free, again. I am also officially homeless. But, let’s not quibble. (Such a strange word. But, I digress.) Today, May 7, 2024, I officially relinquished my ownership of the only house of mine that truly felt like a home. I did so for more money than I paid for it in 2007, which is why I should officially gain ownership and access to my next house and hoped-for home on May 9. A significant sum of money will remain as cash, at least for a while.

Debt-free, again. How often has that been true? Except for incidental credit card debt, and a couple of small car loans (small cars, and small loans), I didn’t have signficant debt (aka a mortgage) until 1988. Bought a house because I ‘should’, but I shouldn’t’ve. Eventually got out of debt by getting out of an unfortunate marriage in 2005. Had a year-and-a-half of renting that was great because it was in downtown Langley, a tourist town; but the landlord/landlady decided to let the house run down, so I bought the house that I just sold. Now, for about 48 hours – oh, wait – for an indefinite time, I am debt-free. This house, this tiny house, is being acquired for cash. Mine. Sweet.

Mine. The house is, or will be, mine. The land will be rented. Still, no debt. After a dozen years of financial misfortune, and hence existential dread, my mental and physical health should improve. Whew.

The home I sold deserves better ownership and caretaking than I was able to provide. I look forward to seeing how they improve it. I wish them both well.

I wish me well, too.

The world is in chaos, and likely to become more chaotic. Maybe that chaos will mean a debt jubilee of biblical proportions. All debts forgiven! Iceland did something like that with mortgages during the Great Recession, but I doubt it will happen in the US, soon.

The world is in chaos, so I’m doing what I can to simplify my life. Getting rid of a mortgage and a home equity loan means fewer pesky bills. During the Great Recession, I almost lost my house. That’s a trauma I don’t want to relive.

Does this description seem a little lacking in raw emotion? I know several people are telling me to celebrate. I agree. I should. I ‘should’. I will. My brother the ace accountant (he’s more than that, but that is a separate – and fascinating – story for him to tell) agreed. It takes time for pent-up stress to unwind, and it will probably take a while for the lack of debt payments to become apparent by their absence. Then, I’ll spend. I won’t get spendy, but my grubbies are fraying grubbies. Fans of distressed clothes might think they’re worth something. I’m currently a 40 waist and 34 inseam, in case you are curious.

The spreadsheet will tell the tale, or show me the money, or maybe get narrower as there are fewer columns for liabilities.

I’d like to make two points simultaneously, but physics demands I type them in series.

This blog is about personal finance, in case you were wondering or had forgotten. Fancy finance packages are available, but if you’ve been doing nothing, then a simple spreadsheet may be enough. For me, whenever I feel like it, I check all of my bank accounts and loans, add in the value of my house via Zillow, Redfin, or Realtor, add and substract appropriately, and check the sum. I also graph it to better see if there are any trends.

date / house / IRA / stocks / main bank / local bank / business bank / PayPal / … / mortgage / credit card / car loan // net worth

Usually I check when it is time to write checks. Yes, I still write checks, but only to the firms that I want a paper record of because I don’t trust them.

These next few days I’ll check it daily. I’m curious to see how much my networth fluctuates with such large transactions. I expect my net worth to go down. Selling a house generates a lot of cash, but it is an asset trade that costs money. Improvements, moving expenses, taxes, brokerage fees, etc. happen. That’s fine. I get something from it.

I’ve only sold a house I owned because there was a good, life-changing reason. This time is to reduce my anxiety level in a chaotic time. That first house I bought because I succumbed to societal peer pressure. Since then, my house sales have been for jobs and relationships, basically, love and money – or the hope for either and each.

This time is for simplicity, but it is also for money, or at least reducing its associated stresses; and for love, for respecting me and my needs. Despite being exhausted (oy! is moving a pain), I’m already feeling better, my dreams are improving, and so is my outlook. 

Whidbey Island was a very good place for where I was personally. Now, it is time to move on. I haven’t traveled as much as many of my friends, but I’ve traveled enough to know that every place has someone who loves it. My house, my home, was sweet; but, I see it as being part of the wet Salish Sea region called Cascadia. From Mt. Shasta in California to Juneau in Alaska is terrain with mountains, volcanoes, forests, rivers, lakes, and an ocean. That works for me! I’m simply sliding a bit north and west from where I’ve been for almost two decades. 

For anyone fortunate or lucky enough to have a house, considering such a life change isn’t simply hanging a sign outside. Yes, it can be. But done right, it also involves weeks of packing, clearing, and cleaning. If necessary, hire it out. Doing it yourself isn’t free or easy. It may cost less money, but it can take more time. I don’t want to know my total bill for renting storage units on both sides of the Sound, renting U-Hauls (and being glad for them), paying for the ferry rides, eating poorly and more expensively, … The list is long.

Port Townsend, my new home, rings a bell on the hour in very Victorian fashion. (Check Port Townsend for their Victorian fashions, too.) Nine rings of the bell and a long day of moving and cleaning encourage me to bring this to a close. I thank everyone who has read or heard my tales as I struggled through the last decade or so. Those who simply listened were the most precious. As some friends who are financial professionals pointed out, odds are someone will get hit with a perfect storm of bad luck. Nothing is guaranteed. Yesterday’s marathon move was done in downpours and wind, almost hypothermia weather. Today felt twenty degrees warmer, and was definitely sunnier. I hope my personal storm has passed.