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Reply to "Sell it or rent it out?"
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[quote=Anonymous][quote=Anonymous]$50k in savings is not very much to buy a new house and carry an existing house. I would sell and use a chunk for the down payment and the rest for investments. [/quote] I agree. You have a good HHI, but no cash. How would you purchase the new home without getting the equity out of the current one? After using the 50K for downpayment/closing costs/moving costs, would you still have an adequate emergency fund? What price range would you be looking in? If you want to rent out the current place, I would wait a year or two and save up enough cash to make a decent down payment.[/quote]
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