25. "We sold when our value was double our equity" In response to In response to 0
It really depends on overall market conditions and your goal.we couldn't afford what we really wanted even with the huge return (110K) but that was a such a huge return we decided to strike while it was hot and there were good available options in our current range. Our current home is our stepping stone. Whatever comes next is where our kids will graduate high school.
Our new purchase was a massive upgrade but not quite what we wanted. It cost less than we sold our prior home for while valued at 100K less than it initially sold for ten years ago.
All this means we had a sizeable down so we're already sitting in 50K in equity with good potential for our value to increase over the next 3-5 years as the market recovers.
So it's a matter of how the numbers form your overall goals and how flexible you are overall.