(Throwaway acct.)So spouse and I bought a condo in North East (all cash) just under 2 yrs ago. This was supposed to be our forever home. I absolutely hate it here for a multitude of reasons, spouse loves it. On paper this was the perfect place; we're able to save a lot of cash monthly, location is great - safe and accessible. We've put about $45,000 into it ($25,000 of that was for a "surprise" repair), never flipped kitchen or bath. Anyway, initially it was a decent buy and if it weren't for that $25,000 expenditure, I believe we would have broke even if we were to sell in today's market (I've kept track of sales here). So we will certainly lose money. Should we sell in spring and rent or sit for awhile? Our ultimate goal is to buy a home in an HOA. We will end up having to take out a mortgage for about 100k to 120k to do this. But there are hardly any coming onto the market. I'm conflicted and frozen on what to do, so I greatly appreciate any advice. One one hand, I'm afraid that we'll be shelling out $2800 a month for rent indefinitely with the market the way it is, vs staying put for awhile and saving money as it becomes a buyer's market (but we lose even more money). To add to it, spouse wants to sell ASAP in Spring because I've become so miserable (to live with) and feels that the sooner we're out, the sooner we'll buy something and "will not retire until we own something". I'm willing to deal with things and stay should that be the best option for us (but that will also drag out spouse's retirement). Help!
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source https://www.reddit.com/r/RealEstate/comments/xky29o/sell_or_stay/
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