Sell High and Build High?
Hello,
I understand the current real estate market and that home prices are selling at all-time highs and the cost of residential building is as well. My situation is that I really want to move but the specific type of property I want (acreage in a specific school district) is really hard to find.
Is it wise to sell my existing home high (for almost $200k more than I built it for) and then build at a high cost? I understand that equity will balance out, but what about when it comes time to sell? If I'm forced to sell for less than I built it for, that equity goes away, right? Sorry for the ignorant question and thank you for your time.
Chad