U
/u/BravoSavvy
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My wife and I (with much help) purchased a SFH in Jan 2023. Sale price was 332k and we put down about 93-94k (we got this as a gift and I'm very grateful).
Our remaining mortgage is currently around 235k and median home values in my area hover around 365k. We have equity. Even if we sold the house at 350k, we should stand to make a profit, correct? We're located in a highly desirable neighborhood and school district.
Is there anything else I'm missing?
We would plan to sell after we hit our 2 years of homeownership to avoid the capital gains tax. I already feel like a failure and was very naive to the work and stress homeownership would cause. It's just not something I'm ready or willing to do right now, but felt pressured into at the time.
I'm asking because I'm not aware of potentially other fees that come with selling a home. Thanks.
submitted by /u/BravoSavvy
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Burned out - homeownership is not for me. Am I missing anything here?
Continue reading...
Our remaining mortgage is currently around 235k and median home values in my area hover around 365k. We have equity. Even if we sold the house at 350k, we should stand to make a profit, correct? We're located in a highly desirable neighborhood and school district.
Is there anything else I'm missing?
We would plan to sell after we hit our 2 years of homeownership to avoid the capital gains tax. I already feel like a failure and was very naive to the work and stress homeownership would cause. It's just not something I'm ready or willing to do right now, but felt pressured into at the time.
I'm asking because I'm not aware of potentially other fees that come with selling a home. Thanks.
submitted by /u/BravoSavvy
[link] [comments]
Burned out - homeownership is not for me. Am I missing anything here?
Continue reading...