I currently own a condo(2b2ba) in Redmond which is about 500k, half of which is paid off. We’re now looking for a bigger space (3b sfh or townhouse) in a nice area on the east side with a budget of 850k. Not selling current condo since the market isn’t great for condo sellers rn. However, houses are going wayyyyy over asking even in places like Bothell, which is becoming out of reach. What are y’all thinking about this period of home buying? Should I buy or wait for more inventory and less competition after summer?#housing #mortgage #seattle
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I have seen 3 bd townhomes in the late 800s and 900s in Kirkland and Bothell , might get one of those. Why don’t you sell off your condo and get a bigger house ? It’s really not relays getting something great at 850, you might have to go further away from Bothell .
I think our condo is pending super appreciation after light rail in 2023. Also it’s a good property for rent, so we’d keep it that way.
There are some neat townhomes in issaquah as well, in the late 800s, not sure what their actual selling price is, though. I feel 900k-1 mil can you get much better variety than what 850k can give you.
Redmond, Woodinville, Sammamish, North Bend, Issaquah, Snoqualmie and Duvall are your best bets. You can land a modest older home for 700-900 near great schools, parks, trails and amenities. We never saw the appeal with Bothell area. There is something about that area and anything west and north of it that just don’t vibe with us. Perhaps the lack of trees and rolling hills / nature relative to the east side proper.
Since the bidding wars are crazy right now I’d wait till winter if anything
By then price will be 10% more for the home you are looking for.
Not necessarily... generally homes are the cheaper during the winter. Just because the rates are super low doesn’t mean you should still buy. If you end up getting a great rate but have to pay $50k+ over list because 10 other people are bidding on the same property is it still a good deal? OP might as well take his chances and wait things out to see if the market cools off a bit.