Future market?

We paid well over asking for a house a few months ago (like everyone). Come to find out the house needs a ton of work, some we knew, some we didn’t and some we underestimated the cost of the repairs. We put about 30 in already for windows (still have about another 10k left to do), fencing ,updating some electrical work and some hidden repairs that needed to be done. But if we want to stay long term we’re looking at minimum another 85k to fully update Electrical, get some sort of forced air and some other non glamorous but pricey things. Right now, I could probably sell for what we bought plus what we put in (which obviously we wouldn’t) but I don’t think our neighborhood could support the future updates that should be done.

Anyways this got me thinking. For all of us who bought during this crazy market and paid way way over, will this somehow drive the market say 5 years when some of us are looking to sell? Will everything be so expensive? Or will there be less inventory because people like me won’t be able to sell for a loss? Just got me thinking!

Also if you have advice on my situation let me hear it! Was supposed to be our forever but it’s bleeding us dry and causing a lot of stress!

submitted by /u/biggiesmalltits
[link] [comments]

We paid well over asking for a house a few months ago (like everyone). Come to find out the house needs a ton of work, some we knew, some we didn’t and some we underestimated the cost of the repairs. We put about 30 in already for windows (still have about another 10k left to do), fencing ,updating some electrical work and some hidden repairs that needed to be done. But if we want to stay long term we’re looking at minimum another 85k to fully update Electrical, get some sort of forced air and some other non glamorous but pricey things. Right now, I could probably sell for what we bought plus what we put in (which obviously we wouldn’t) but I don’t think our neighborhood could support the future updates that should be done. Anyways this got me thinking. For all of us who bought during this crazy market and paid way way over, will this somehow drive the market say 5 years when some of us are looking to sell? Will everything be so expensive? Or will there be less inventory because people like me won’t be able to sell for a loss? Just got me thinking! Also if you have advice on my situation let me hear it! Was supposed to be our forever but it’s bleeding us dry and causing a lot of stress! submitted by /u/biggiesmalltits [link] [comments]

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