Skip to main content

Help! I am moving across the country - do I sell my house or rent it out?

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

submitted by /u/new_account_yo
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/ewp3ab/help_i_am_moving_across_the_country_do_i_sell_my/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more