My partner and I bought our home back in 2020. We got a good deal, low rate. But we want to move into a more spacious SFH. However, as we all know this market is crazy. Everything we want costs $620k+ and bc of rates it makes our mortgage estimates $3500+. We are currently paying $2k. And it looks we need to sell the house simultaneously as look for a new one or our contingency isn’t as attractive. I know it’s based on personal circumstances. But what would you do? - not move, sell and buy?

like
Posting as :
works at
You are currently posting as works at

The current market likely won’t support that type of contingent offer.

You could look at new build homes. They often require a down payment of 5% or 10%. You’d be able to avoid the contingency portion and plan the sale of your current house to completion of the build being done. You’d also lock a price now (most builders in Austin at least). Interest rate you won’t lock until later so some risk there.

That’s what we did in 2020. New build 5% down. We are hesitant to do it again bc of the quality of the builds we’ve seen including our own home. And all of the new builds are further from dt. We looked at mueller, and of course a new build was $1m with $30k earnest.

Has your current home gained a chunk of value since purchase? You could use that equity to open a HELOC to finance the new home. Then, sell the old home at your own pace free of contingency and pay back the HELOC, or keep the home and rent it out.

Unfortunately, mortgage rates have increased substantially but housing prices haven’t yet caught up (decreased). That usually takes 6-12 months, but based our current circumstances, probably longer.

Yeah it has. And we’re not in a rush at all. We bought our house to avoid high rental costs. And were testing the waters. And it is more south than we’d like. It’s an awk time bc bigger homes that are more affordable are south of us into Buda. And I suppose a lot of people like that area bc of the schools ( so I’ve heard). My partner and I aren’t there yet.

Related Posts

Hi Fishes,
I will be joining KPMG global services and first time coming under tax slab.
Can anyone please share monthly payslip as I wanted to plan my rent according to HRA?
Also please share the Annual basic so that I can calculate my HRA accordingly.
Attaching my compensation plan.
Pleaaaaassssse helppppppppp.

Post Photo
like

Has anyone opted for a stock option in IBM India? Please share your experience, especially what are the charges when they are being sold? IBM

like

Tier1/2 ka mba karke kuch Faida Hoga kya? People in tech are earning almost close if not more. 2 Saal job chodke 20 lakh ka loan leke kuch milega kya in the long run?

Ab ye matbolo ke gyan milega, daru milega, bandi milegi..ye Saab hai.

Thoda advice do.
Asking since i have converted tier1 and 2 college

like

Do you believe that economic inequality is as bad a problem in the US and gloabaly as we are led to believe, and is a wealth tax a viable solution to the problem?

like

Hi Fishes, I recently joined Pwc AC and was informed to update my checkpoint portfolio where we update all our investments. If we have some investments and if we do not declare them, will it be a problem or can I update it as Nothing to report. Recently I joined here so I'm having some confusion regarding this.

like

Guys, i m in a pretty bad financial situation and need to pay my student loans and support my parents who lost their job. I m trying to brainstorm how i can make some side money. Thinking something that i can do remotely like an amazon store. Goal is to generate ~$1000 months in profits. I just have no idea where to start. How do ppl go about starting these?

like

Anyone with a leased car move from NJ to other states? If yes, could you please help me understand the process to get sales tax refund from NJ? Thanks in advance!

like

Hi guys. I have a query with regards to the Income tax proof submission.

So I have claimed exemptions on the following-
1) HRA
2) 5 year term deposit(fixed deposit) under Section 80C
3) Interest on education loan under Section 80E

I have also provided previous employment details.

Guys I didn't know that we have to submit declaration forms as well. Can you please tell me which are the declaration forms that I would need to fill and submit??

Thanks in advance :)

like

Any of you using TikTok to display your properties? I see it's working for some realtors and I am tempted to try.

like

Looking to transition to a new career, possibly to SWE. I have a physical science background with some student loan debt. Before I dive into more student loans, I wanted to check out some Software Engineering boot camps....

Any recommendations? What's your personal experience? Are they worth paying, or is college the way?

likeupliftinghelpful

We can help you in tax planning and getting tax refund upto 2.5 lacs.Let us know if seeking help/clearification.

like

Confirming that the cheapest and fastest way to buy Electra is to transfer LTC to Coinhouse and then convert LTC to BTC

like

I’m maxing out my 401K, traditional IRA and HSA this year and paying for some house improvements. I have about $750K total investments and very close to $2M net worth, but realize that I am behind on investments if I want to do FIRE. I was focused on paying off huge chunks of my mortgage and managed to whittle it down to $75K left. Would you suggest I go ahead and pay that off this year? Or pause and do a mega back door roth instead? I’m mid 40s. Thanks!

like

Is ARKK still a good ETF to invest in?

like

Recently moved to Denver, and may be sticking around for good. Planning on buying in the next year or so, and some of the suburbs off 25 and south of 470 have caught my wive’s eye. Thoughts on Douglas county (or specifically castle pines, Parker)?
We’re a mid-30s couple, with a 4 y/o, so for priorities: schools, (hopeful) resale value, and activities for our daughter and family as a whole. Any advice or alternatives would be appreciated!!

like

Can my vacation home be 45 minutes away if it’s at the beach? Or does that look suspicious? I want to get in for 10% down and lower rate than an investment home

like

How do I classify my property for tax purposes if I received rental income for exactly 15 days this whole year? Primary?

like

What is the best platform for housing in sf city? Craigslist?

like

Why so red? Any stocks good to buy now?

like

I’m loyal to delta, but I’m moving to a city where American is the main hub and Delta has practically no non-stop flights to/from there. It’s time for me to open a new credit card, so I was considering the Citi/American one. Any thoughts?

like

More Posts

Is there a good online course on storytelling with data? Something that can help structure your thought process and design choices when creating visualizations and Dashboards in Tableau, Power BI etc.

like

Exl offices not opening anytime soon right ?

like
likefunny

Is there any vacancy as a Frontend React UI developer?
4 YOE @capgemini

like

Hello Fishes ...
Please help me

I'm looking for a entry-level role in finance domain and I would appreciate your support.

Recent MBA-FINANCE graduate with a focus in Investment banking, Financial markets, Financial analysis and reporting

If anyone knows of a job opening where I would be a good fit, I'd appreciate if you could send them my way! Of course, if you have any suggestions for where to start my career, or anyone you'd recommend I speak to, I would be very grateful.

like

Does anyone have any side gigs or know of any gig types for project managers? Projects themselves need too much attention to manage on the side of our already busy days.

What are your favorite apps that encourage healthy lifestyle in your patients that might need changes in that area?

like

Esperanza Rising Resources. Have you used this book in the classroom? Can you share your resources? This book has so much about culture, migration, geography, etc. I may use to teach with Social Studies. Share links, resources, Teacher Pay Teacher ideas, etc. Thanks In Advance

like

Can someone please tell me what “suitussy” means

funnylike

Hello, can someone help to refer in MS. Need to switch badly

like

Hi,

I am looking for a career transition from a civil engineering( work ex. 3+ ) to Business and data analytics, can anyone advise me with dos & don'ts.

like

Hi,

Any reviews for Swiss Re as a company? I'm close to getting an offer and want to particularly know about the following:
1. Non-monetary benefits (life, accident and medical insurance details, any other benefits)
2. Paid time off (leave) policy
3. General culture (including WFH support)
4. Work life balance
5. Typical increment and bonus levels (VP level preferably)

like

Hi, fishes.
A quick query here.

I'm going to move from non IT profile to IT profile. Basically I'll be applying as front end engineer in new company. Previously I was working in a BPO profile.
Just wanted to ask if I'll be provided training in my initial months as a front end engineer or am I expected to work from the very first day.
Your comments will be really helpful.

Thank you.

What would the in hand of 18.5lpa in htc

Mechanical graduate 2019 passout.
I had been preparing for government technical exams....now frustrated.....
Now , I want to switch to IT industry....I have intermediate level knowledge in Java.....Please help me with referrals or advice me on how to get a job

like

Any production manager job in bangalore in mechanical or automobile company?

like

Hi folks,
I have recently joined capgemini.
Is it worth opting for bus pass if we're working in hybrid mode? Bcoz i think any way if we opt for, the company will deduct whole month specific amount under conveyance allowance.

like

It happened again today. I was walking from my car into a building and remembered I had forgotten to lock my car. I had the urge to turn around but I remembered that the only valuable thing in my car was my work laptop. And I would cry tears of joy if someone broke into my car and stole my work laptop. Can anyone relate to this feeling?

funnylike

Hi Amazonians, What if I do not submit any idea from last 6 months in RBS. Would they put my name in PIP ?Amazon

Hi Everyone, I am looking for a job change. I have 5+ years of experience (2 years in Indirect Taxation and over 3 years in Business Finance). Currently I am into Retail Business Finance. If anyone has any leads, please provide reference. Thanks

like

Additional Posts in Austin, Texas

Anyone know how much a full time nanny in the Austin area would cost?

like

What investment shops are hiring in Austin?

like

Does anyone work at IBM, Salesforce, or Palo Alto Networks? I’ve been interviewing with all three and would love some insight about how you like your company/red flags you’ve come across.

like

What's the new age scene like in Austin? Coming from Portland and I'm missing my fellow mystics.

like

Does anyone live in Larkspur community in Leander? We are making a buying decision but don’t live in Austin. I have driven around Larkspur briefly but so going to get some first hand info! Thanks!

like

Anyone here work for Maxwell Locke and Ritter? Curious to know about the comp and culture, particularly on advisory.

like

Planning a trip to Austin, young couple looking to move here from DC what neighborhoods should I see and or any thoughts on other cities to visit for the same reason.

Anyone have any Back/Spine specialist recommendations in the ~Central Austin area? Needing a second opinion beyond my ortho and curious where people have had positive experiences.

like

Recommendations on local Austin sites for home search we are looking to find a rental for 6 months for ex. Sulekha in northeast is pretty common among Indians. Interested in condo/house type living arrangement v/s renting with apartments.

Curious how many of you live outside of Austin but commute to work within the city? Or if you’re fully remote.

like

Just want to say that I've learned a lot in this bowl! Really grateful for people posting questions, do's and don'ts and for the community responding!

likeuplifting

Can you pay for tolls with the tx tag?

like

Is Field of Light at Lady Bird Johnson Wildflower Center worth it?

like

Been in Austin for a while now and have never dated but would like to start. Any tips/suggestions on where to find quality people? (F, 28)

likehelpful

Which one would you prefer b/w local lender v/s establish financial institution when buying a home?
What are the pros and cons of each?

like

Friends are telling me it’s super hot in Austin during Summer. Is that really bad? I’m thinking moving to TX, from DC

like

Anyone looking to move to southeast Austin soon?

like

Moving to Austin near the Samsung fab. Any apartment recommendations?

like

Hey! What’re some of your favorite things to do for fun in Austin? Ive been here for three years and like it a lot, but its starting to feel repetitive. Any suggestions would be appreciated lol

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal