Go back to previous topic
Forum nameGeneral Discussion
Topic subjectnope, just a home for us and our kids.
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13391698&mesg_id=13391735
13391735, nope, just a home for us and our kids.
Posted by Cold Truth, Thu Jul-02-20 12:47 AM
>Is this an investment property?

No :)

>Good to hear adults figure out how to behave in a civil manner
>and for mutual benefit.

Yeah. It's not the ideal scenario, but it's the best of all available options.

>I cannot bring myself to rent. Especially now that the COVID
>has made it possible to put my mortgage into forbearance, if I
>want. I can't imagine having to negotiate rent with a
>landlord.

Honestly, this smacked me in the face. After we sold the second one and had to rent, I learned about Market Rate the hard way, after see a jump of over $200 between a quote I recieved Friday afternoon, and the subsequent Saturday morning appointment. They didn't mention market rate pricing when I went in on Friday, and set the appointment for Saturday morning. They told me the price went up like it was nothing.

The apartment we settled on jumped from $1405 to $1685 when. It was time to renew the lease. We found another place that, thankfully, had similar rent, and didn't have such an absurd increase after the year was up.

Meanwhile, home rental prices are as high or higher than what we'd pay for a mortgage.

Each of us having to navigate that separately , whole raising two kids? Fuck all that.

>I am about to make a move and deciding to keep my first home
>and rent it. As much as selling sounds appealing, housing is
>just so scarce in big cities. Maybe that will change after
>COVID.

THIS!! Selling the first proved to be a colossal mistake. If you have a manageable mortgage and you're not stretched thin, it's wise to hold on to it.


>I think the market will get better and people will feel more
>inclined to sell when the states have a good handle on what
>they are going to do.

*supposedly*, from what I've been told, August should be a good start to a friendlier market, at least where I'm at. we should see a significant price decline toward the end of July, when forbearances aexpire. I have to do some research to vet that though.