Is it crazy to move again, only 9 months after we bought our first home?

[preslove]

Originally posted by: aphex

Originally posted by: preslove
Look for a real house inside sarasota. Living right off the interstate sucks Are you off the Univeity exit? Sarasota is quite beautiful inside the city. The interstate areas are just ugly.


<------- New College graduate.

I live right in University park (right behind Home Depot off Honore), beautiful area back in here...

There are some nice townhouses and stuff, but you have to drive around suburbia to get to and fro. Move just south and east of downtown. There are some great neighborhoods around there. Plus, I would be more confident in the real value of a house vs townhouse. When the housing correction (I like that word more than bubble burst) I would rather have a real house.

 

[Aquaman]

Ask yourself this............

1. have you had sex in all the rooms?
2. if not do so
3. see place
4. buy new one
5. ....
6. Profit

Cheers,
Aquaman

 

[amol]

No if you're staying in the same area.

 

[SilentZero]

My family just sold a condo on Long boat key in sarasota for 1.7 million, and they bought it for 900k. The wife and I are actually thinking about buying some property down there, but I really dislike living on the gulf so I doubt we would ever use it ourselves.

 

[aphex]

Originally posted by: preslove

Originally posted by: aphex

Originally posted by: preslove
Look for a real house inside sarasota. Living right off the interstate sucks Are you off the Univeity exit? Sarasota is quite beautiful inside the city. The interstate areas are just ugly.


<------- New College graduate.

I live right in University park (right behind Home Depot off Honore), beautiful area back in here...

There are some nice townhouses and stuff, but you have to drive around suburbia to get to and fro. Move just south and east of downtown. There are some great neighborhoods around there. Plus, I would be more confident in the real value of a house vs townhouse. When the housing correction (I like that word more than bubble burst) I would rather have a real house.

Well that would be great for my fiancee (who works at the Zenith downtown), but i commute to St. Pete everyday, the closer to the highway the better.

On another note though, were now looking at a different place right down the street from ours... A little cheaper as well, around 220k.

We checked out the place i originally mentioned, and while the construction is just getting underway and the places will be very nice, it is LITERALLY on the highway (probably less than 10 feet seperating the roadway from the small wall they erected). Rolled down the window and all i heard was a ROAR, no way in hell are we buying there. The place were at now is about 1/2 mile off I-75 and you can barely hear the highway, yet it only takes me 2 minutes to get to the onramp...

The new place im looking at is simular to our townhouse, except it has one extra bedroom and a 1 car garage, right on the braden river. Trying to find out more info as all there is a sign up for now

 

[CPA]

Originally posted by: flot
Concrete instead of wood sounds like a good plan.

However, do the "real" math not the fantasty world math. You will have to pay a realtor to sell your house. You will have to pay closing costs on the new house. Your property taxes will increase by 60%. You may have to pay tax on the profit from your current house.

It will likely not come out nearly as well as you think it will. There is a lot to say for only owing 150k on a 275k house.

No he won't. Married are allowed a 500k exemption from gains on house sales.

Doh, missed the 9 month deal. Yeah, you need the 2 years, otherwise this is taxable.

 

[richardycc]

Originally posted by: CPA

Originally posted by: flot
Concrete instead of wood sounds like a good plan.

However, do the "real" math not the fantasty world math. You will have to pay a realtor to sell your house. You will have to pay closing costs on the new house. Your property taxes will increase by 60%. You may have to pay tax on the profit from your current house.

It will likely not come out nearly as well as you think it will. There is a lot to say for only owing 150k on a 275k house.

No he won't. Married are allowed a 500k exemption from gains on house sales.

Doh, missed the 9 month deal. Yeah, you need the 2 years, otherwise this is taxable.

but he is there less than 2 yrs, so he WILL have to pay taxes, unless there is some kind of tax laws for married people that I don't know about.

 

[richardycc]

wow, fast edit, CPA

 

[Scarpozzi]

Yeah...if you can turn a proffit, do it. You'll build some quick equity on the new purchase. Just remember that you want to make sure you don't lose it in the financing. You may want to keep your current house and rent it out??? Just a thought. You could have $12-1300 a month coming in as a rental if you keep your current property....

 

[CPA]

Originally posted by: richardycc
wow, fast edit, CPA

I hate when I make stupid mistakes like that. Takes a hit on my rather miniscule reputation that I have.

 

[Jzero]

Originally posted by: Amol
No if you're staying in the same area.

Yep....a house's value isn't very useful if you have to live there.

My parents' 50-year-old 2-BR condo has increased from $75k to $250k in 5 years. Except at the present time $250k will only buy you....a 50-year-old 2BR condo.