Irvine1stTimer
New member
I am looking for some help, would appreciate your kind thoughts.
We bought a 3 bed Cal Pacific homes's condo back in 2015, which has modestly appreciated since then, we have close to 30% equity in this.
Our family situation has changed, where we need a bigger place to accommodate family needs. Ideally close to 2500-3000 SQFT, at current market new home will be close to 1.3-1.4M. I am confused what to do, as both approaches have pros and cons
A) We can afford to buy a new place under 1.1M without selling the current condo, and convert our condo into rental ( negative CF of 250-350 a month). Unfortunately nothing much is available close to 1.1M. The ones which are they are not too big and/or not very desirable
B) Sell our Condo, and move this equity and more cash towards new home
C) We can probably wait for another 4-5 months. Maybe continue waiting, and see what happens later this year?
We aren't FCBs, to make it clear. Single, hardworking earner, with family of 4.
We bought a 3 bed Cal Pacific homes's condo back in 2015, which has modestly appreciated since then, we have close to 30% equity in this.
Our family situation has changed, where we need a bigger place to accommodate family needs. Ideally close to 2500-3000 SQFT, at current market new home will be close to 1.3-1.4M. I am confused what to do, as both approaches have pros and cons
A) We can afford to buy a new place under 1.1M without selling the current condo, and convert our condo into rental ( negative CF of 250-350 a month). Unfortunately nothing much is available close to 1.1M. The ones which are they are not too big and/or not very desirable
B) Sell our Condo, and move this equity and more cash towards new home
C) We can probably wait for another 4-5 months. Maybe continue waiting, and see what happens later this year?
We aren't FCBs, to make it clear. Single, hardworking earner, with family of 4.