I have lived in the same house since I was 9 months old. 4 bedrooms, 3 bathrooms, formal dining room, in door laundry room, large yards. I just inherited a 2 bedroom, 2 bathroom condo. The kitchen is 1/2 size, no dining room, laundry is in the garage. House is too big for 1 person, great for my 2 dogs. The condo has no lawn they can be on with a leash, but the size is good. (Condo's morage is $300.00 more the the house - I can rent the house for more then I can rent condo.)
2006-11-06 05:49:46 · 7 answers · asked by ladytc 6 in Business & Finance ➔ Renting & Real Estate
Added info: I am single & can't have children.
2006-11-06 11:54:03 · update #1
you should refi the whole thing, update the land, and get some one in there. after that you can start making some money off the property. I'm a morgage invester and i can get you killer rates. Currently i have a couple of propertys; where i put no money down and bought, now i have people renting from me and there paying off the morgage on top of that i made money off the whole deal. its great you should do the same thing! i didn't believe it until i got the check with a lot of zeros at the end.
2006-11-06 06:03:38 · answer #1 · answered by michael p 1 · 0⤊ 1⤋
My advice would be to sell the condo and keep the money in a CD for future. The money will accrue interest (sometimes quite a bit depending on the bank you go with) and then when you are older, have children, you need the money, then you can take out the money and spend it how you like. ( an ex. would be $20,000 in 5 years could be double or triple that amount) Another option maybe is to rent out the condo. Then that can help pay your rent at the house. Also, its better to have too much space then too little and you can always get roomates or more pets...I would stay in the house, it seems to suite you better than the condo, which is more expensive anyway. Good luck!!
2006-11-06 14:10:57 · answer #2 · answered by dinkle_fritz81 2 · 0⤊ 0⤋
If you inherited the condo how is there still a mortgage. The mortgage insurance from the deceased should pay that mortgage off, thus giving you a free and clear title to the property. You better check on that. Maybe you can sell the condo and pay off your house. House is always better
2006-11-06 13:54:54 · answer #3 · answered by Have gun, will travel. 4 · 0⤊ 0⤋
I'm inclined to say keep the house and either rent or sell the condo. Sounds like the house is nicer. Granted it's more space than you need, but you might find ways to fill that out. (Another dog, another person...)
2006-11-06 13:52:52 · answer #4 · answered by danl747 5 · 0⤊ 0⤋
Move into the house and rent the condo. It will help you in the long run.
2006-11-06 13:54:07 · answer #5 · answered by golden rider 6 · 0⤊ 0⤋
I would sell the house, sell the condo, and look for a smaller dwelling were you and your pets have comfort and exactly what you want.
2006-11-06 13:57:41 · answer #6 · answered by Diana J 5 · 0⤊ 0⤋
I would move and rent out your house hopes this helps
2006-11-06 13:52:53 · answer #7 · answered by pattibcacl 6 · 0⤊ 0⤋