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Old 04-06-2023, 09:53 AM   #25546
Euro7r
Rs has made me the woman i am today!
 
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Join Date: Sep 2006
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@unit - coming from a similar situation as you as well. Wife & I had a one bedroom, and wanted to upgrade to detached. We skipped the townhouse and duplex because I hate sharing LOL. Well not exactly, more so the math made sense where we could be spending the same amount for older detached versus new duplex. We weighed out our options whether to keep the condo and rent it out, while pursuing detached. The numbers didn't make sense at current interest rate levels to rent out as our rent didn't cover all the overhead, so we decided to sell it and move back to my parents for time being. Once we sold, we were aggressively looking because you don't want to wait too long, as things start going up (keeping in mind we didn't have the condo to at least keep up with the market increases). If you decide to sell, then you gotta make sure your ready to be active in looking every week.

My dad kept telling me, just take your time and there isn't a rush. He doesn't understand math and the market, so he never will understand why we do what we do. Say you stash away $30K savings each year living back at home. Say home goes up $100K every year you stay living at home, you pretty much have fallen behind and hard to catch up that gap. If ur savings is in par of home increases, can take all the time you need.

There are a lot of things to consider and definitely stressful just thinking about it. I got into a lot of family arguments because everyone has their own fucking opinion.
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