Someone came by yesterday asking some questions about the condos and eventually expressed interest in buying my place for about $30K more than we paid for it. We’ve put about 10K into improvements (including next weeks furnace/water heater installation) so a 20K profit in 1 1/2 years ain’t bad. We’d talked about moving, but decided to stay here and enjoy being able to save some money for the first time. But this is tempting…. Should we take advantage of the overpriced market while it’s still high? Or keep shopping at IKEA and make our place work to its full potential? There’s a lot of things I don’t like about this place I’d be glad to be rid of, but I wonder if we can find a place in this good of a location for a decent price.
GRANOLA THOUGHTS
granolagirl: crunchy on the outside, fiscal conservative on the inside.
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It’s just me and what do I know, but that sounds like a pretty good deal! So far Utah has escaped the housing woes plagueing the nation, but how long can that really last?
By: Adrienne on August 17, 2007
at 3:23 pm
Hmmm… 20K sounds like a good deal, but when you figure that you’ve got to try to find a new place to live, it’s really not all that great. If someone wanted to give us 20K more than what we paid for our house, it’d still be about 40K short of what it would take to buy a similar house down the street. Taking advantage of the housing increase works both ways, you also have to pay more for your new house because of it. (Unless you plan to leave the state or something… please don’t do that either).
By: CWE on August 17, 2007
at 5:09 pm
Yeah, it’s only good if you move to Saskatchewan after you sell. The other houses where you are all more expensive now too, right?
By: bestsariah on August 18, 2007
at 4:06 pm
That’s funny… we got a few offers as well. The plan has always been to sell in a few years and then make enough of a profit to put a *down payment* on a house in California. My brother-in-law’s house (same square feet as us) is now worth two million. Yowza!
By: Laurie on August 18, 2007
at 6:44 pm
“but I wonder if we can find a place in this good of a location for a decent price.”
A: no (and what Shauna said)
By: Krispy on August 19, 2007
at 8:19 pm
“Sell out! With me, oh yeah! Sell out!”
Actually, you shouldn’t sell out. You should have a big garage sale, and then your place will seem bigger. And you’ll have a fat sack of cash. Maybe not 20K. But at least enough for a trip to the Circle K.
And that’s worth something.
By: Shauna on August 21, 2007
at 3:20 pm