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I currently own a home. If you've followed some other threads of mine (don't want to repeat) you know that I have little or no equity in my current house, a no interest loan and am paying off 30K in credit card debt. Together, my husband and I make currently (both contractors) $94K. We are both trying to become permanent employees to avoid having downtime between jobs, one of my downfalls. I'm close and feel confident this will happen soon. Incomes will stay the same, we'll just have better benefits.

This recent financial downfall is very new, I was doing much better before 2001 and things are looking up. My credit score was just done and is 728.

SO, in the past year I have been trying SO hard to snowball the CC debt. It is still at the same place where it was last year!! FRUSTRATING. Of course from May to Sept of this year, I was unemployed. Still made minimum payments on credit cards but didn't make a dent.

Would selling our house and breaking even and buying a condo at the same price (200K) help us save money down the line? I say this because I know our life would become simpler in a condo. First, we would be buying something with half the square footage we have now, we would get rid of lots of extra furniture. We would no longer have a yard, sprinkler system and pond to maintain. There would be no remodeling (looking at brand new). My husband could bike or bus to work. I'm looking at a perm job where I could do the same, if we go with the condos we're looking at. Utilities theoretically should be much less since the SF is lower AND the new condos will not have drafty windows. That may be covered by the building, too. Don't know...

On this particular condo project, closing is 8 months away, giving us time to pay down debt or save some for downpayment or win the lottery ha ha ha.

In my budget review, I can see that we spend 500-1000 a month on what I call "home stuff" - Home Depot, yard stuff, fixing this or that. I'm thinking most of that would go away (of course we'd have an HOA but I doubt it would be more than a few hundred).

Has anyone done this? Thought of doing this? What things should I factor in and consider that I may have overlooked?

Although I appreciate the wellmeaning posters who want to comment on the credit card debt or the no interest loan, PLEASE only address the question: Would moving to a condo help save money? thank you!
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