TLDR - Sell and buy again? Keep and rent out the OH house, while renting in CO? Keep the OH house and buy a manufactured home in CO?
Help! I am moving from OH (affordable cost of living, low mortgage on my house) to CO (houses are expensive, would need to sell mine for the down payment). For the most part rent would be cheaper than a mortgage where I am moving, unless we get a manufactured home. This is a multi-part question...
My current house is a small cape cod, 3 bed 2 bath I bought it for 80k and think I can sell it for at least 110k and if I do some updates I can sell it for 120k or so.
1 - Is buying a manufactured home a bad idea? They are affordable and even with the land rent they are cheaper. I would not need to sell my house to purchase one and I could rent my OH home out to our current roommate who is staying back. Is this better/worse than renting? Do you make anything when you resell a manufactured home? There are not a lot where I am from so they are foreign to me.
2 - If I sell my home now we may be able to use that money to buy another in CO, but we will still not be at 20% down payment and the mortgage will probably be more than renting. Most houses we would be looking at are between 250-300k because those are the cheapest houses in the cities where we are looking.. I am thinking of renting for $1300 or less in order to keep building our savings account and living below our means.
We might be moving in a month or so, if we are going to sell we need to bust our asses to get it ready right now!! If we are going to keep it for a while I have some time to get it ready and fix it up slowly.
AHH HELP!!!
Thank you
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source https://www.reddit.com/r/RealEstate/comments/ewp3ab/help_i_am_moving_across_the_country_do_i_sell_my/
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