in april 2022——at the height of the market—my spouse and i bought a house for $300k+ in an up-and-coming mid-size southern city. we put down 18%; our interest rate is 4.6. the house is cute and well-maintained, great “curb appeal,” lovely walkable neighborhood, easy access to downtown/employment centers.
BUT it’s looking quite possible that i’ll land an excellent job in a different (southern) state; that job would start in summer 2023. so we’re already thinking about what we would do if that happens—try to sell the house? improbable we could break even, since the market has cooled. but if we did sell, then at least we’d have money for a down payment in the new city?
or try to rent it out? in which case, not sure how we’d have money for a house in the new city. neither of us are from, like, homeowner/rich families so there may be other financial moves we don’t know about (home equity loans, second mortgage, just learning about these). it might be smart for us to rent at first in the new city anyway (if i get the job!) to get a lay of the land, figure out the right neighborhood, etc.
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source https://www.reddit.com/r/RealEstate/comments/ztkd81/maybe_moving_out_of_state_for_jobsell_or_rent_the/
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