I recently bought a condo because the owners of the house I was leasing were moving back and it seemed like a smart financial decision. I had doubts but was running out of time, so I pushed them down and wrote it off to normal nerves during such a big purchase. I’ve been in the new place a month and absolutely know I can’t stay here. I wish I’d listened to my gut or whatever it is. I even called my mortgage broker to ask what the latest point for me to back out was. That should have told me something!
Besides capital gains taxes (only if I make a profit or the home value has gone up, right?), is there anything else I should be thinking about or worrying about? I’m in central Florida and the market is still pretty hot, so trying to wait it out a while doesn’t seem like the best idea as I imagine things could cool down at anytime. The last time I owned was in the 90’s and I just feel so confused and unsure and don’t want to make another bad decision. Please give me all of your advice!
submitted by /u/Persephone_says
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I recently bought a condo because the owners of the house I was leasing were moving back and it seemed like a smart financial decision. I had doubts but was running out of time, so I pushed them down and wrote it off to normal nerves during such a big purchase. I’ve been in the new place a month and absolutely know I can’t stay here. I wish I’d listened to my gut or whatever it is. I even called my mortgage broker to ask what the latest point for me to back out was. That should have told me something! Besides capital gains taxes (only if I make a profit or the home value has gone up, right?), is there anything else I should be thinking about or worrying about? I’m in central Florida and the market is still pretty hot, so trying to wait it out a while doesn’t seem like the best idea as I imagine things could cool down at anytime. The last time I owned was in the 90’s and I just feel so confused and unsure and don’t want to make another bad decision. Please give me all of your advice! submitted by /u/Persephone_says [link] [comments]
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