Reply to Want to downsize-Sell and take loss but save, or wait for appreciation?

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Reply to "Want to downsize-Sell and take loss but save, or wait for appreciation?"

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[quote=Anonymous]use a rebate or flat fee agent to sell. dont price too high or you will chase the market down. Price at or just under what you think its worth (775k?). Lets say you net 500k ish.

instead of pouring all your cash into the TH (485k) with tiny mortgage, why not invest 250k and allow it to grow; finance the th with a 250k mortgage, you should still be able to swing the payments because reduced other costs, including a larger mortgage interest tax deduction and possibly better rates than you have now (not sure what you have), today they are around 3.75 for 30 year. that way you are not putting all your money into an asset that may or may not appreciate, you will diversify (esp if you own rentals, put that cash out of the RE market and into other markets).

fwiw, I dont think there's anything wrong with a 2400 sq ft townhome. I used to live in a 2200 sq ft sfh with a small yard and the kids used the local parks 90% of the time anyway. We hate lawn work too. Plus, getting better schools for your kid seems of bigger importance than having a yard. [/quote]

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