Selling a house before a "possible" impeding recession?

[Bodie Coates]

My wife and I are considering selling our house now in an attempt to take the equity it's built and buy a nicer home once the next recession hits. Curious about what others are doing now that a recession seems more and more likely.

We bought our house in 2011 for $112k and now good ol' Zillow is estimating $270k... I think our dream would be to sell it now, live with the mother-in-law for a bit, get into another recession, and completely pay off a house at that time with the money from the sale. Are we dreaming or is that a possibility? Thanks in advance!

[Alex Deacon]

@Bodie Coates I love your general thinking and that you are willing to sacrifice. Thats the true heart of someone that has the "want to succeed at all costs".

Most people would never think of selling their home and to live in their In- Laws basement. This society today is I want it now and I dont want to sacrifice or pay for it. 

Now with that being said if anyone in this forum can predict the next recession and how it will affect each and every area across the nation than I am all ears. There are so many other options. 1. Pay off this house as fast as you can. Wait for the recession and then buy another one and rent this out? 2. While you have equity in the house get a LOC at a very low interest rate now while the appraised value is there so if a good deal comes along you will have the funds to act. Having a LOC available doesnt really cost you anything. 3. Sell now and then buy a fixer upper that you can gain instant equity in and then move into that one. You will pay no capital gains on your current sale and then if you decide to sell your new home in the future you will pay no capital gains tax on that one as long as you have lived there 2 years or more. 4. Buy duplex and live in one side and rent out the other after selling your current home. 5. There are so many other options>>>

I just want to get your brain thinking about all the things real estate can provide one of which is an endless amount of options and creativity that can make you $$$.