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Stay/build, or sell?

My husband and I bought a 1500sq ft ranch during covid. We bought it for around $530k and have a 2.5% interest rate.

Its pretty updated, since we’ve moved in we’ve done the following: stained floors, painted kitchen cabinets, redid both bathrooms, added in a small master walk-in closet, closed off den to make a third bedroom, repainted all walls and added moldings etc. Nothing crazy structural but the rooms are pretty big for a ranch.

We live in one of the best towns in our state. Its honestly like winning the lottery that we bought this house and pay so little on it, especially since for now I am home with our babies and we are on one income.

The issue is its not our forever home. I get slightly self conscious because we’re the only one story house on our street; maybe not the smallest in the neighborhood but compared to my neighbor friends we are. The living room and dining room are all one space and it gets tight especially with kids toys. The kitchen is basically a larger galley style and not ideal for me, I’d love more counter space. The third bedroom we renovated is right off the kitchen and opposite side of the house from the other two bedrooms. Having all bedrooms on one floor leads for less privacy but for right now with babies it works pretty well for us. Not a deal breaker but just not what we imagined for a forever home.

We thought we would be here for 3 years and then sell for a profit and move on, but now we cant afford to.

The Zestimate on our house currently is close to $1.1M. In my area a house sold for that as a knock down price. Part of us is curious about knocking down and building what we want because we love the neighborhood so much, but another part of us wants to sell however I dont think we can afford anything else in the town (most prices starting around $1.5M, for houses that need a lot of work).

Would appreciate any advice!

submitted by /u/meekie03
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source https://www.reddit.com/r/RealEstate/comments/1rzpal1/staybuild_or_sell/
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