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Thinking of selling our home
I'm a bit hesitant, but it sounds like a good idea. DH and I have kicking around the idea of selling our home, to take advantage of the current market. We wouldn't even begin to look for anything until our house is sold. We dont' expect to make any money on the house, but do expect to at least breakeven. And if we can a larger home (4+ bedrooms) in the same area we are in now for the same price, it makes sense.
Having a home, we now realize what features we really want (and don't want). We'd love a home with more "character," wood floors, larger closets, terrace. These are all things we can add to our home, but that would mean adding lots more $$, which we don't want to do.
I'm hesitant b/c it is our first home together and I'm emotionally attached! And seeing a "for sale" sign in the front lawn is so sad!
"If we couldn't laugh we would all go insane" -- Jimmy Buffett
Re: Thinking of selling our home
If you guys are going to break even, I think it's a great idea! You can get more house for less money (lower monthly mortgage payments) and I think that's a win-win situation. Plus like you said, your taste has probably developed since you bought your home, and now you guys can look for a house that comes already with those perks you mentioned without having to go through the hassle of adding them yourselves.
GOOD LUCK!!!!
keep us posted!
Jackie, keep us posted on the housing status! One of my best friends has also said that they don't care if they break even, they are just ready for a new place.
It must be so exciting, although you're probably not getting your hopes up until the house is sold. But it's fun to imagine a new layout, new design and waking up in a new house. Good luck!
The thing is that we are extra emotionally attached to the house b/c WE actually built / designed it! When we bought it, it was a complete disaster. We made it new and a home (new roof, kitchen, floor, windows, bathroom layouts, moved a couple walls, etc). We put so much time (and $) into it that it is hard to let it go, esp after only 4 yrs.
BTW - the breaking even includes cost put into the renovations.
"If we couldn't laugh we would all go insane" -- Jimmy Buffett
You know, my Dad is in the real estate business and he has been buying propertys at the county auctions. He has bought some amazing homes (4-5 bedroom homes with a pool) for as low as $150,000. These are homes that would need to be remodeled as most are foreclosures that have been destroyed inside. Take a look at those if you are intersted in remodeling/putting a little money into a home just like you did yours. You may even end up making money on the new house with those prices!
I say go for it girly! The way I look at it, you might not make a huge kaboodle on your house, but you will get an awesome deal on another, so every one wins and everyone looses. If you break even, I think that's pretty good right now. If DH and I knew we could break even on the townhouse we'd be looking right now too.
Keep us posted!