I really need to market to collapse. I was lucky to be able to buy an affordable home at a good rate under President Trump’s first term, but under Biden, our family size doubled and we are bursting at the seams of our starter home. Bring it on.
Well, then you should be selling now and living in a cheap motel because when it crashes, most of American investment money is locked up in their real estate at current prices
We are fortunate that we have enough saved up for a downpayment on a new house so we plan to keep our current home as a rental property since the mortgage is so cheap and its a very unique property. It's just that we don't want to buy a new home right now while they are so overpriced and interest rates are so insane. Otherwise we would definitely be trying to offload it now before shit hits the fan.
True, and I agree! Our only apprehension is that the property itself is really cool (beautiful 3 acre parcel with old trees surrounding and located in a bustling suburb less than 30 mins from the heart of a major city) so we aren't too eager to get rid of it because it would be very hard to replace and it also would be a lucrative rental property since horse-friendly rentals are rare to come by. The goal is to either build an addition now or hold it for a few years while the kids are young and doing the farm thing is difficult, and then come back and do the addition later on.
I really need to market to collapse. I was lucky to be able to buy an affordable home at a good rate under President Trump’s first term, but under Biden, our family size doubled and we are bursting at the seams of our starter home. Bring it on.
Well, then you should be selling now and living in a cheap motel because when it crashes, most of American investment money is locked up in their real estate at current prices
We are fortunate that we have enough saved up for a downpayment on a new house so we plan to keep our current home as a rental property since the mortgage is so cheap and its a very unique property. It's just that we don't want to buy a new home right now while they are so overpriced and interest rates are so insane. Otherwise we would definitely be trying to offload it now before shit hits the fan.
I think what Cat is saying, you could sell now and hold that for crash and have a higher profit on your current house.
True, and I agree! Our only apprehension is that the property itself is really cool (beautiful 3 acre parcel with old trees surrounding and located in a bustling suburb less than 30 mins from the heart of a major city) so we aren't too eager to get rid of it because it would be very hard to replace and it also would be a lucrative rental property since horse-friendly rentals are rare to come by. The goal is to either build an addition now or hold it for a few years while the kids are young and doing the farm thing is difficult, and then come back and do the addition later on.