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/

Comments

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...

Pool fill without engineer oversight

We are in the process of purchasing our first ever home in CA and we just discovered in the disclosures that the new build property we are purchasing previously had a swimming pool which was filled without an engineer onsite to approve the work (details from disclosure below). Is this something we should be concerned with or not? Is it something we should have additional inspections conducted on? We are originally from the UK and not really sure what to do with this information and if it is concerning or not. A POOL DID EXIST PREVIOUSLY. COPING, TILE, GUNNITE AND REBAR WERE ALL REMOVED AND DIRT AND CLEAN DRAIN ROCK WERE USED TO FILL IT IN. COMPACTED FILL WAS NOT USED AND NO ENGINEER APPROVED THE DIRT AND DRAIN ROCK FILL IN submitted by /u/tommot82 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dpyzw8/pool_fill_without_engineer_oversight/

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/