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Ben Ryder
6
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25
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Should I sell my home?

Ben Ryder
Posted Sep 13 2020, 17:24

Closed on it december 2018. Got it way under market. Paid 282 with 3% downpayment. Appraisal waiver came back 375 which didnt account for my remodel. It was dated and I updated it. Didnt put much into it did it mostly right. Im pretty sure I can sell it for around 420-450 at the lowest 400. The area is in utah and the town is in  a good location. Right now I rent out 4 bedrooms out of the 5. I live in the 5th room. Im getting currently 2250 / m which makes my living expense almost nothing. If I dont sell ill refi and then ill make a little. If I move out ill be making around 700/m of cash flow. The reason I want to move is its clear a crash must be coming due to forbearance. ALso I do commute a total of 2 hours a day 6 days a week. I was considering moving and renting for a little bit then buying or I was thinking about doing a 1031 and getting another propetty but at the same time the market may drop. If I stay I live for free but commute 12h a week and destroy my car with miles , if I move my costs of living goes from almost nothign to around 1.2k-1.5k. I am really unsure on what to do.  Thoughts?

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