[quote=Essbee]Edited to add: I was trying to quote bearishgurl but failed miserably…. reminder to self: it’s “quote” not “reply”.
It’s a fair question. I do think that it was worth it for the following reasons:
1) if we had waited for the price of house #1 to go up (to get our equity out), house #2 would have likely gone up, too.
2) more importantly, we were worried about the interest rates going up in the next few years. that alone could have priced us out of house #2.
3) we want our kids to start school in the new neighborhood. They are 3 and 1, so school is still 2 years away.
and of course the irrational…
4) we were simply excited about the new house/neighborhood and didn’t feel like waiting several more years to move in.[/quote]
I have a couple more questions, Essbee. I’m not the least bit interested in WHERE you sold and bought but more interested in WHAT you sold and WHAT you bought to replace it.
Here is an example:
Recently sold for $600K
SFR, 3 bdrm/2 bath, 2 car gar, 1 story
2150 sf
5500 sf lot
35 years old
8 miles from work
Recently bought for $600K
SFR, 4 bdrm/2 bath, 3 car gar, 2 story
2350 sf
5000 sf lot
8 years old
17 miles from work
These examples are just made up (for format).
Please feel free to use round numbers for house sf and price sold or bought (for privacy purposes). Truly, I’m not interested in locating your transactions nor do I have the time.
I understand the reasons you put forth above (sort of) but am wondering what would compel someone to leave $75K? on the table when, from your posts on this thread and the “man-cave” thread, it appears you went to great lengths to remodel/improve your last property to your liking and then later decided to let it go and (literally) give away your hard-earned improvements to the buyer (along with most of the value of your downpayment).
I understand from your post that you had two additions to your family while living in your last house. I personally don’t see SFR’s in SD County going up appreciably (if at all) in the next two years. I also don’t see a big mtg interest-rate spike in the next two years but I could be wrong on this :={
