Starter home vs forever home
I need help between two options 1) 4 bedrooms, town house, no real yard, great schools; ~950k, can afford downpayment comfortably, will likely want to move after 3 or so years 2) 4 bedrooms, single family, good sized yard, great schools, great amenities, 1.25M, would be happy in this house for a long time I can comfortably make monthly payments on both, but the downpayment for the 2nd is going to require me to use all my non retirement savings What to do? Be sensible or yolo? TC: 430ish, 500 if stock bounces back
Op u look like the richest person on blind
What about your commute?
They’re similar, these two places are about 2 miles apart
Where are you getting 4 bdr townhome for 950k?
If you are likely to move in 3 years with option 1, you should factor in transaction costs, stress associated with finding a new home and property tax changes. Depending on what you think the market will be like in 3 years. Also I've seen somewhere that people have the tendency to overestimate how long they will stay in a home. (Consideration for option 2)
Most likely will opt to rent the place out instead of putting it on the market. Need to hold for 5ish years to break even.
please let me know where option 2 is, I am gonna buy it immediately.
Ok genuinely not saying too much because I’m afraid someone here will swoop in and buy. Ask me again in a week :P
2
4 BRs? Do you have children? Single? Married?
I’d rather think long term and just get the better place. Especially if you’re starting a family soon why bother moving them. Moving schools too.
2
yolo