Want to move but don’t want to change interest rates

[Anonymous]

My partner and I bought our first home Dec 2021. We bought a starter home - a townhouse that is quite within our financial means, and wasn’t as intimidating as starting with a SFH (also, had 8 failed offers on SFHs - so figured it was time to pivot).

Fast forward one year and we want to move [insert laugh-cry emoji here].

We’re tired of dealing with the HOA and close neighbors, and we want more space, SFH, etc.
Our current home seems like it will sell at a price that will more than cover what we spent plus closing costs, and then some. We’ve made some smart upgrades and the neighborhood seems to be selling for well over what we bought ours for.

But, we have a low interest rate, and if we sold and bought somewhere new, our rate would jump up, and we wouldn’t be able to afford what we want because of that.

Not enough cash to buy somewhere without selling this place (or investments that are down due to the market), and we want to be rid of this HOA anyway.

Any ideas on what to do?
Currently we’re between:
A) sell this spring, and rent till rates go down
B) sell this spring and buy somewhere different but not as nice as we want
C) wait till the fall to sell (bonus, no capital gains tax bc 2 years of ownership) and hope rates fall by then

Thoughts?
Thanks!

[Anonymous]

D) don’t move now because you just bought a house a year ago and nothing is forcing your hand on moving (job change, family situation, etc…)

[Anonymous]

Can you sleep in the townhouse, noise wise? Is smoke or other allergens seeping into your unit? What exactly is making you feel like you need to move?

You should probably stay put

[Anonymous]

Rates will not fall.

[Anonymous]

How much did you put down? Less than 20%? Did you get into a bidding war? I say this because you could be underwater. Have you considered renting it out and becoming a landlord?

[Anonymous]

Stay put for a few years. Figure out ways to live there. Since it is well within your financial ability, you can save more to get a larger downpayment.

What parts of the HOA are bugging you the most?
Where did you live prior to this?

Noise canceling machines in the bedroom may help with the noise.

Sometimes practicing gratitude on what you have helps tone down the thoughts of ‘I want more.’.

[Anonymous]

You can try renting it or Airbnb

[Anonymous]

Anonymous wrote:Rates will not fall.

Of course they will eventually. Not next year though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Rates will not fall.

Of course they will eventually. Not next year though.

They are predicting rate cuts this year because the fed is really dumb and hiked to late and too fast

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Rates will not fall.

Of course they will eventually. Not next year though.

They are predicting rate cuts this year because the fed is really dumb and hiked to late and too fast

Who is “they,” and is it people who misunderstood smarter analysts who said the fed will hike MORE BUT SLOWER not actually cut?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Rates will not fall.

Of course they will eventually. Not next year though.

They are predicting rate cuts this year because the fed is really dumb and hiked to late and too fast

Who is “they,” and is it people who misunderstood smarter analysts who said the fed will hike MORE BUT SLOWER not actually cut?

Economists agree on the cuts , this fed will go down as the worst in history, Biden can get a lot of votes by firing them and cutting the rates

[Anonymous]

Anonymous wrote:

Anonymous wrote:Rates will not fall.

Of course they will eventually. Not next year though.

I agree with OP. Rates are still historically low. I wouldn’t count on them falling much, if at all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Rates will not fall.

Of course they will eventually. Not next year though.

They are predicting rate cuts this year because the fed is really dumb and hiked to late and too fast

Who is “they,” and is it people who misunderstood smarter analysts who said the fed will hike MORE BUT SLOWER not actually cut?

Economists agree on the cuts , this fed will go down as the worst in history, Biden can get a lot of votes by firing them and cutting the rates

Jesus, you again? Don't you have something better to do?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Rates will not fall.

Of course they will eventually. Not next year though.

They are predicting rate cuts this year because the fed is really dumb and hiked to late and too fast

Who is “they,” and is it people who misunderstood smarter analysts who said the fed will hike MORE BUT SLOWER not actually cut?

Economists agree on the cuts , this fed will go down as the worst in history, Biden can get a lot of votes by firing them and cutting the rates

Jesus, you again? Don't you have something better to do?

No do you? Truth is hard

[Anonymous]

You can't afford what you want yet, so try to make peace with your current place. Your current interest rate is a gift. You really can't rent the place out?