So as a little background info - I’m 29, my ex and I were together for 9 years. We bought our first house in 2014, and upgraded to our “forever house” in August of 2019. The breakup happened and we sold it in March of 2021 (I’ll have to pay capital gains on the part I received next year for taxes).
I scrambled and ended up renting the cutest house. I got so lucky. I have a giant German shepherd (check my account if you want to see him!) so finding a rental was super tough. Getting rid of him is a non-option.
This rental house was built in the early 1900s (dirt basement), but the landlord had ripped it down to the studs and completely remodeled it. It also comes with a building lot I could divide and either sell or bring in a modular home on.
I think I’m just scared to buy in this market? The house we sold as a couple went for 75k over what we bought for it 18 months prior.
The cons - age of the home, the market, I’d be compromising a lot (no garage, only 1 bath)
The pros - he’s selling to me directly so no bidding war, he’s selling it to me at appraised value (which I’m sure will be higher than normal, too), that building lot - the idea of selling it and getting my more than my down payment back right away is super attractive.
My lease is up August 1, so I have to decide quickly. If I don’t decide to buy it, he’s going to list it for sale and I’ll have to find another rental which is also impossible in this market.
Any advice, recommendations, pointers on things I’m not considering would be super appreciated!
Submitted June 08, 2021 at 09:27AM by gr8__vinez https://ift.tt/3cpYK5t
