Reply to Feeling stuck in starter home TH

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[quote=Anonymous][quote=Anonymous]Chiming in as someone who bit the bullet and sold a condo with a low mortgage rate to buy a SFH with a higher rate last year. In our case,[b] the value of both homes was the same, [/b]and the factors tipping the balance were access to better public schools for our kids, who are young, which we felt would lead to savings in the long term, and the need to prepare for the possibility of older relatives moving in with us, which wouldn’t have been possible in our condo. We’ve decided to compensate for the cost increase by not going crazy with decorating our new place in the first year or two and limiting travel in favor of more visits to local museums, family game nights, etc. We’re anticipating a significant increase in income in the next few years but I can’t pretend it wouldn’t be nice for rates to drop. That said we knew what we were getting into and it was the right decision for our family.[/quote]

This is incredibly rare.  Unless you move outside the Beltway.  Which is a non-starter for me.  My TH is way nicer than a lot of the SFHs around me, which are expensive tears down on small lots.  Sure, if they get torn down and rebuilt they will be more valuable than my TH.  But my property taxes aren't going to force me out of the neighborhood when I'm old either....[/quote]

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