Sorry, when you posted your orignal thread, I couldn’t help but peek at your property and sale history….But here’s my take based on what I could tell…I’m not so sure you downsizing is really a downsize beyond the size of the home…
You’ve been living in your current home for quite awhile. And it’s going to be ironic that you will most likely pay more property tax (or close to the same) for a 1300sqft place versus your existing home (provided the record for your home is correct)? Also, let’s not forget that if you plan on buying a townhome in CV, you will have approximately $259/month in hoa and mello-ruse (sic) to deal. Also, now you have do deal with the inconvenience of parking, neighbors that share adjoining walls,etc.
I don’t think it’s worth it for you, considering that you also have 2 kids.
If we assume that you didn’t refinance/take HELOC’s and/or atm to death your home….You are in an envious position because if you’ve been diligent in paying down your mortgage, you are probably at a point when you can almost survive on 1 income, let alone two. IF you atm’ed your home’s equity to death…then it’s a different story…Then you might not even want to consider purchasing again… ( I hope you didn’t, but no need to answer that on a public forum, especially since you are considering selling the home).
Anyway, to me, it doesn’t really seem to make sense for you to sell your primary SFH only to buy an attached at current market values, given how low you paid for your primary to begin with….
Are you sure you want to buy in The Heights? It’s an apartment-convert, with the most inconvenient floor plans. At least consider something like Andulcia(sp)
Third…Buying from a “friend” is a bad idea, unless he/she is offering a killer deal to you directly without you asking… Because if
(1)If you ask for a good price, you might offend your friend, because he/she might thing you are trying to take advantage of the situation
(2)If you don’t ask for a good price, you will regret the decision of paying more than you need to and feel like he/she has taken advantage of you…..
Don’t mix money (of this size) with friendship…It’s not personal…It’s business…That’s my opinion…
What you haven’t answered is how much left you have on your existing mortgage.
