Is the property theory of sell low buy low a good one to follow?
Is the property/real estate theory of sell low buy low ie in a depressed market such as this one, correct and valid? or is it all relative? surely to upgrade your house to a more valuable one it will always cost more than the house you’ve just sold?
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Tags: Depressed Market, Property Real Estate, Property Theory
sell property | , 29 Jun 10
By teran_realtor, July 1, 2010 @ 7:18 am
If you live in a $100k house and your income has increased and your family has grown and you’d like to live in a $200k house, make the move.
You sell your $100k house for $90k (a $10k loss)
You buy the $200k house for $180k (a $20k gain)
It’s worth it if you’re moving up, but not down.
You could also rent the $100k house and buy the $200k house now, and sell the $100k house when the market comes back – but be sure to close on it before 36 months have passed since you moved out. (to avoid capital gains tax)