How Much Equity Should I Have in My House Before I Sell?

How Much Equity Should I Have in My House Before I Sell?

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[DemetriPanici]

Love this question. So many people sell too early so I'm glad I have a good idea now

[wemustdissent]

I bought a house in Seattle 6 years ago. It was a "hot" market then too. List price was 380k we ended up buying for 425k. Its Zillow list value is now 850k and we have 200k left on the mortgage. Would be very tempting to sell if I didn't have to just get another house in the same area. Its almost tempting to sell, pocket the 500k likely proceeds and then just rent or something while that 500k is invested and I wait for another opportunity to buy in maybe a colder market.

[Zorlig]

If you want the gain, do a refi and pull it out

[markN]

If you sell, you'll just have to go buy a different (high priced) house. What have you gained? Just live there.

[ellencox]

I bought my first house during the housing crisis. Sold it when it doubled in price after 6 years and built my current house in 2017. My house is currently 1/3 more than I built for so it is on track to almost 1/2 again as much at the 6 year mark. If you are not dumb, you will make money either way. Personally, I don't look at my home as an "investment". It is just where I live and how I want to live.

[KingOfFinance]

I love owning real estate. I will sell if it’s a good deal but if it can cash flow for me while I keep paying the Mortgage down I’d rather keep it. So many assets are digital, stocks but real estate is tangible. The wood, windows, the mechanical I like knowing that I own it and it’s physically there.

[josephdigi]

much salmon! 🤣😂 Ah hahaha. All love guys! Another amazing video! Bravo 👏!

[cooneyshawn]

Don't forget the closing costs and taxes. And I have a feeling some people forget about all the money they put into repairs. With expensive homes the sale and purchase transaction costs can add up quickly.

[Lolatyou]

Why would you sell your home unless you are down sizing. You still have to buy another house or rent, and you will have to pay a bunch in closing costs.

[peterwakeman]

USA is a very long tax story before health care and retirement

[theadamblock]

I assume the answer is enough to cover the next property's down payment after any and all real estate fees.

[domm]

looks like a bunch of salmons. :) joking

[mideos]

Are they wearing pink shirts because they're gay?