Sell Primary residence and invest
Just quick numbers.
Location: Georgetown, TX
Primary Single family home (First home) purchased at 280K with 2.5% rate
Current Value = $450K , Equity = $200K
The area still seems to be growing and doesn't look like will slow down for a couple of good years.
I am thinking about taking cash out of my current primary home and buying a little bigger house for ourselves and then renting the current home.
Does this seem like a reasonable idea? What would be the best way to use the equity?
Sorry never invested in real estate besides my primary. I am kind of a newbie.