sneakaprince
Supporter
- Apr 29, 2007
- 16,578
- 20,395
Sold my primary residence about a month ago. Moved to some apartments on a 10 month lease.Reached out to our realtor just to gauge what we could sell our house for. Based on the comps he sent over we could expect at least a 40-60% profit. Wife won’t entertain anything less than 100% .
Anyone flip their primary residence in this market? Did you buy another home immediately or decide to rent in hopes of the market cooling down? Any seller’s remorse?
We have a great home in a great location. While we could wipe out all our debt and still have a sizeable amount left over for savings and a downpayment, we’d be back in the market at these prices.
The move was a huge win for the fam. Cleared 6 figures for a crib I lived in for 5 years and basically added no updates. My neighborhood was going downhill and there were no good schools in my district.
Moving to this apartment allowed me to cash in before a potential crash, it removed the biggest "debt" on my credit report (possibly even allowing me to enter the market again on a 3.5-5% down payment).
The apartment is in a better school district so we can lock that in for my son. This will allow us to establish residency in case we decide to move out of the district (when we find a home) and still need a solid school for my kid.
I'm hoping that when we re-enter the market in early 2023 we can at least bypass the current trend of offering 20-30k over asking + no inspection after spending 10 mins in a crib on the first day it's listed.
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