| Should I sell and rent for a while and "stash" my |
|
|
|
|
|
doglover2007
New Member
Cash: $ 0.65
Posts: 3
Joined: 14 Dec 2006
|
| Should I sell and rent for a while and "stash" my |
 |
|
I bought my house about two and a half years ago for 300,000...it is now worth about 500 I'm in a hot market...luckily..it is fully paid off so my profit after sales will be about 150,000 which means I will have about 450000 coming out of the house...I'm not really seeing anything I want right now but I also don't quite know where I will be come summer as I am still babysitting my grandson till then and my daughter lives close ...she might move also as she is living in my ex's house for now saving money for a house..I don't want to miss out on a "hot" market and would be willing to rent a friends house for a while till I figured out what to do... her house or any other "townhome" arrangements would cost me about 1300 a month..but I would make that easily in interest on the money I stash in the bank at a good rate...if I stay in the house I will pay taxes again, and look at eventual repairs etcetc...all the "fun" of homeownership...the question is should I just try to sell after the New Year and if I sell quickly like a house in my neighborhood did for full asking price then just take my money and rent for a while or wait till summer and possibly loose out on a better deal ? I will probably buy a house again but am not exactly sure in what area yet....
|
Thu Dec 14, 2006 6:28 pm |
|
|
coaster
Senior Advisor
Cash: $ 1318.80
Posts: 6496
Joined: 11 Oct 2005
Location: Wisconsin
|
Just curious where you are that's still a "hot" market. Everyplace else you hear about on TV and in the news is in the deep freeze. Maybe they're not telling us everything.
~Tim~
Eye Candy : Why Whimsy
|
|
Thu Dec 14, 2006 8:40 pm |
|
|
LottomagicZ4941
Senior Member
Cash: $ 1.16
Posts: 2463
Joined: 02 Dec 2004
Location: Earth
|
If you paid 300K a few years ago SELL. It is probably only worth 200K. So if you can sell it for 500K like you think. You should still be able to get into one worth 300K.
500K for a house. ReDicOlus. BARF
To bad my wife wasn't ready to sell her rental a year ago.
Could have gotten more for the thing then.
Well, I've been saying it would be good if realestate went down so I shouldn't complain when it does.
The price of real estate in Colo. ReDicOlus. Calf. even more insane. Just say no to paying hidiously high prices for a house. It is just STUPID.
My Current Favorite Marketing Tool. If you like text adverts you will like it
Save 25% off some versions of Turbo Tax some say it's a CPA in a CPU
|
|
Sat Dec 16, 2006 1:27 pm |
|
|
sam1000
Full Member
Cash: $ 21.05
Posts: 95
Joined: 28 Jul 2005
|
you do realize the market is cyclical. If this is your primary residence for you and your family and you're in it for the long term then trying to cash out of the market may not be worth it. Your house may go down to 200k but there will be another upcycle when it will be above 300k, it goes up and down so why bother.
|
|
Mon Dec 18, 2006 5:33 am |
|
|
doglover2007
New Member
Cash: $ 0.65
Posts: 3
Joined: 14 Dec 2006
|
| house sale |
|
|
I don't think I made myself clear....I am single living in this house ..it is totaly paid off bought for 300,000 working with real estate agent I can get at least 480 for it minus real estate fees....instead of having to put more money into this house it's about 12 yr old ie getting new decks eventually, painting, someday new roof( money I don't have availabel to spend ) I wanted to buy a newer house in maybe 400k price range but nothing excites me right now..however my daughter will also move into a first house sometime summer don't know exactly how close yet...my parents live close to me..are 75 and 80...but my longtime boyfriend 50 miles away...I will look for a new job in summer as I"m mainly babysitting for grandson till summer...part time job now and alimony sustains me for another two years...however I think taking the money putting it in a six percent or more acct and "living" off the interest might work better for a while if I just rent something till I find out where I really want to move..and I want to do this while the prices are up...a very similar house to mine sold across the street from me about four weeks ago in ten days for 499 K so that's why I'm anxious to sell....so that was my real question..or should I stick it out till summer when my daughter knows where she might move....I must say either way noone will ever live more than 50 miles away so is it even worth worrying about...?
|
|
Mon Dec 18, 2006 4:05 pm |
|
|
coaster
Senior Advisor
Cash: $ 1318.80
Posts: 6496
Joined: 11 Oct 2005
Location: Wisconsin
|
It sounds to me like there's too much uncertainty here to make a committment to a new house, at any rate. But whether you sell the current house or not, I hope you realize you're not going to be able to live off the interest on $450K.
~Tim~
Eye Candy : Why Whimsy
|
|
Mon Dec 18, 2006 5:40 pm |
|
|
doglover2007
New Member
Cash: $ 0.65
Posts: 3
Joined: 14 Dec 2006
|
| I know |
|
|
that I can't "live" off the interest but it would pay for renting a place and I would still have the money in the bank if I want to buy something in the future...I figure I could just try to sell the house and see if I get full price in a quick time..if not then oh well...nothing ventured nothing gained right?
|
|
Tue Dec 19, 2006 2:36 pm |
|
|
coaster
Senior Advisor
Cash: $ 1318.80
Posts: 6496
Joined: 11 Oct 2005
Location: Wisconsin
|
Nothing ventured, nothing gained; nothing ventured, nothing lost. It goes both ways.
Although nothing ventured is lost opportunity. 
~Tim~
Eye Candy : Why Whimsy
|
|
Tue Dec 19, 2006 3:33 pm |
|
|
|
