I am moving to Charlotte, NC for a new job. I currently live in Portland, OR and have a single family home here. With my income, and current mortgage, I can afford a 350k house I’m Charlotte with about 10% down. What are the pros and cons of buying a new place in Charlotte and then sell my house in Portland?

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Can I buy your house in Portland? Haha places I’ve been bidding on get snatched up within 3 days

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I feel ya, I’d hate to be in the buyer side in Portland right now.

You’ll most likely sell your place in Portland quickly. Ever consider doing a short term rental after you sell to find the right place?

Just be aware unless you live in there for two years that you’ll only have a partial exclusion equal to time lives divided by 2 years multiplied by $250,00 (this assumes you’ve lived in it less than you owned it).

As opposed to what?

As opposed to selling the Portland house first, move to Charlotte and the buy a house.

The charlotte real estate market is really hot right now, what kind of home are you looking for? Have you checked out the areas yet? I’m a charlotte native.

Oh sweet. I’m looking for something around 350k that is an easy commute to the Ballantyne area where the office is located. Ideally an area that is safe, still affordable and has potential to appreciate in value.

Having cash in hand without waiting for the sale of your previous house will be to your advantage when placing bids, especially with the hot market.

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