should I sell my house in southern California (temecula)

I’ve owned my house In Temecula for almost 6 years. It’s a 2 bd 3 bath on .25 acres. I have a interest rate of 2.8%. I recently applied to university. I have about 2 years of schooling left. I’m going to be using my GI bill to attend school. The GI bill covers rent cost and enrollment.

I’m currently working part time in the food service industry to keep a W2 on file in case I need to get a loan at any point. I’ve been working with this company for almost 2 years. I technically don’t need to work but i like the extra money, and food discounts.

Due to me not having a real income, nor a completed degree, I’m nervous about selling my home and never being able to buy in southern California again. I’m also not sure if I would be able to sustain rent cost long term because it’s hard to find reliable roommates.

The university I’ll be going to is about 60 miles one way. The commute is a killer and I don’t know if I could sustain this commute for 2-4 years as a science major ( thinking of pursing my masters).

If I were to sell my home, I would make anywhere between 200k-250k after taxes. I would totally buy another home but the available homes are not my style. I need a home with at least .25 acre to start my farm. I’m an agriculture science major and I plan to start a company using hydroponics.

The biggest reason I’m interested in selling my home is because I don’t like the house and the area. I want something private and more land to expand in different business avenues I’m interested in.

My options are to :

Sell the house, collect 200k-250k, and store in a high interest savings account until I graduate. High interest accounts for this amount is 0.40% ( I’ve only looked at one bank). The amount on interest I could accrue would be $8k-10k per year

Live in the house and commute 60 miles one way to school for 2,4 years. Maybe get a roommate because I would have to quit my part-time.

Live in the home for a few months, renovate it with 5k, and rent it for $2600-$2900. This would give me a monthly profit of $850-$1150 per month. It would take about 10 years to make 200k-250k in profits. Leaving me with 14 years left to pay off the house or sell it for more profit.

Sell my house and use part of it to buy land in a prospective area to build a home on in 2 years.

I have no debt and a smedium amount of money saved. I’m 28, no kids, not married, but have a very cute dog.

What would you do? Willing to answer any questions.

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

I’ve owned my house In Temecula for almost 6 years. It’s a 2 bd 3 bath on .25 acres. I have a interest rate of 2.8%. I recently applied to university. I have about 2 years of schooling left. I’m going to be using my GI bill to attend school. The GI bill covers rent cost and enrollment. I’m currently working part time in the food service industry to keep a W2 on file in case I need to get a loan at any point. I’ve been working with this company for almost 2 years. I technically don’t need to work but i like the extra money, and food discounts. Due to me not having a real income, nor a completed degree, I’m nervous about selling my home and never being able to buy in southern California again. I’m also not sure if I would be able to sustain rent cost long term because it’s hard to find reliable roommates. The university I’ll be going to is about 60 miles one way. The commute is a killer and I don’t know if I could sustain this commute for 2-4 years as a science major ( thinking of pursing my masters). If I were to sell my home, I would make anywhere between 200k-250k after taxes. I would totally buy another home but the available homes are not my style. I need a home with at least .25 acre to start my farm. I’m an agriculture science major and I plan to start a company using hydroponics. The biggest reason I’m interested in selling my home is because I don’t like the house and the area. I want something private and more land to expand in different business avenues I’m interested in. My options are to : Sell the house, collect 200k-250k, and store in a high interest savings account until I graduate. High interest accounts for this amount is 0.40% ( I’ve only looked at one bank). The amount on interest I could accrue would be $8k-10k per year Live in the house and commute 60 miles one way to school for 2,4 years. Maybe get a roommate because I would have to quit my part-time. Live in the home for a few months, renovate it with 5k, and rent it for $2600-$2900. This would give me a monthly profit of $850-$1150 per month. It would take about 10 years to make 200k-250k in profits. Leaving me with 14 years left to pay off the house or sell it for more profit. Sell my house and use part of it to buy land in a prospective area to build a home on in 2 years. I have no debt and a smedium amount of money saved. I’m 28, no kids, not married, but have a very cute dog. What would you do? Willing to answer any questions. submitted by /u/Junebaebee [link] [comments]

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