How did you downsized/upgraded your house? (rental, lenders)

[majka]

ok, we are thinking of upgrading our house, but most importantly is to sell our current one.

so, does it exist such idea like exchanging house with someone who need to downsize it, for example for economical reason.

any ideas or where can we look for such option.
thanks

[chet everett]

If you have arouse that might be desirable to an investor to use as a rental unit there is some chance you could do an "exchange" but odds are you are not going to find someone that want partial cash and the equity of your home. Lenders are not eager to mess around with such a deal either...

I think you first need to decide what you would upgrade on your currwnt house, how that compares to existing homes in your neighborhood, how homes that you might want to buy would compare, how happy you are with current location, how much demand there is foe homes in your area...


Generally if you have a desirable town with good schools and a home that is undersized for the area it might make sense to improve it.

If the costs of improving are going to make your home wpone of the priced options in the area then it makes more sense to sell...

[Pete MUFC]

Originally Posted by majka

ok, we are thinking of upgrading our house, but most importantly is to sell our current one.

so, does it exist such idea like exchanging house with someone who need to downsize it, for example for economical reason.

any ideas or where can we look for such option.
thanks

majka, go to craigslist, under housing select housing swap.
good luck.

[majka]

thanks for the advice and craigslist idea. generally, I like our little townhouse that my husband owned for 10 years right after finishing his college (memories, memories...) however, the house began very small when our family grew from 1 to 6 people in a short period of time. i think, that our neighborhood is best for those who like outdoor activities cross county ski/bike/run -that's what we did. also good with family having 1 or 2 children. well, not more for us. and that's why we start to look for something that fits everyone comfortably.