I’ve lived in my home for 18 years. I shopped for a home for four years before that. Never, in all that time, have I seen home prices skyrocket like they are right now. With the right strategy, I’m thinking a home owner could make life significantly better for her or himself and their loved ones. But, I’m not one hundred percent sure.
The question then:
Home purchased in 2003
Paid $169,900 for it. Owe a balance of $79k on the VA home loan.
I’ve been told by Zillow and Credit Karma I could sell my home for $310,000.
I’m 50 years old, have no heirs, and don’t plan on buying another home. In 10-15 years time, I plan on living in a senior community.
Should people in my area with significant equity built up, sell, move to a condo for rent or similar, and invest the profit in the market? It’s like the market will never crater permanently (I mean it quickly rebounded after a year ago March), so investing in a broad portfolio seems like a good idea. Or isn’t it?