Currently live in a 1800 sqft 4br 2.5 bath place. House is in an ok neighborhood (fremont ca) with decent schools. House is ok-ish too-early 90s built, could do with some renovations but largely ok. It’s on a noisy street(train close by) Our total house expense is 3.5k(2.6k mortgage, 900 property tax) We are considering an upgrade to get into a slightly bigger place with a bedroom and bathroom downstairs for our elderly parents when they visit. However this will be a steep increase in our house expenses - for a 2 million house even if we put our gains from current house towards down payment it ll be easily 10k+ for mortgage and property tax. TLDR- stay in current house for 3.5k or upgrade to nicer house and neighborhood for 10k+
Ignore the haters. My house is smaller but paid for. Keep what you have.
For $6500/mo you can just rent them their own house.
That’s my argument too. For 6500 I can airbnb in Hawaii every month.
@OP - I thought Fremont was a good neighborhood.
You didn't tell us your financial situation, so my vote will always be to upgrade. Each person should have 750 sq ft of living area minimum.
Lol. Do you understand mortgage rates?
Of course I do. The assumption is that OP has unlimited resources and they need a bigger house because the current one is too small.
We are having the same issue right now. We also lives in Fremont. We want to move to a better school district. But now every home is so expensive with such a high rate. If you don’t have an urgent need, maybe hold on for a while?
What is your lot size? Will you be able to get a room added on ground floor?
Upgrade if you get a good deal on the house and you can afford the monthly payment. Don’t stretch yourself too much.
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4 bed in 1800 home 😂 Do you have a living room?
Lol. 2 living rooms in fact. The 4th bedroom is only big enough for an office so fair point.