I am looking at homes for sale in my neighborhood. I paid $200,000 for mine 2 years ago..?
Now I see the exact home layout and size that I have with more upgrades being sold for $179,000. Will I ever be able to sell mine for what I bought it for? I plan to be her another 5 years but at the prices house are around here I could get a much larger house for less than I bought this one for. What do you all think?
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3 Comments
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Since you are waiting 5 years, the market should turn around and you will be able to get at least what you paid for the house.
Well. Does your house “feel” better than the other house? What is the rental market in your area like? If it is possible, maybe you can consider to buy the other house as an investment or move into it and rent out your existing house. If you plan to stay, that it wouldn’t matter that much the current value of your house. Just enjoy the neighborhood and what it has to offer!!!
You bought at the top of the bubble.
Just because your neighbor is asking $179k does NOT mean that they will get it.
I hate to be a downer, but depending on where you live, no WAY will your home be worth more than what you paid for it in 5 years. The housing market is dropping like a stone and no where near bottom.