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Old 12-30-20, 04:26 PM   #209
MN Renovator
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Location: Minneapolis, MN
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Quote:
Originally Posted by Peakster View Post
{snip}I'm planning to list my house for sale around March 2021. In the meantime I'll just keep treading water.
What are you planning to do for your living situation? Whenever I look at it, if I were to buy a smaller house, there seems to be less value in smaller homes because the houses my size are slightly out of reach and smaller homes are less affordable making them into higher demand and therefore a higher price as everyone tries to 'jump into a house before they get "priced out" '.

I see the plan for hopping out at a potential market high, definitely a sellers market now. It seems rents are high though and to me the only way to get a true deal is to jump in as a tenant for a room for awhile and then buy back in when the housing price hysteria calms down, but there are risks in that. I just ended up figuring it's easier to stay in place, I know the mechanicals of my house are sound and it's all known factors to me. I suppose I could see the advantages of swapping to a house with maintenance free siding, windows, a more efficient house design(more square, easier to insulate attic, and better window positioning) and a newer condensing furnace since I know siding, windows, and a furnace are probably a US$20+k price tag and I imagine in 10 years I'll likely need to have all that work done. I find long term rental situation to be a losing game because generally rent rises year by year and the person owning the home is looking to always have a profit margin.

I guess I'm speaking from a US market perspective, but am curious what you plan to do for living if you are looking to sell.
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