youAtExample OP t1_j6pestt wrote on January 31, 2023 at 11:23 PM

Reply to comment by Old_Cup_634 in I'm considering selling my home, renting for a year, then buying my second home in order to avoid some of the stress of trying to sell and buy at the same time. Is this a bad idea? by youAtExample

I have a job so none of the equity would go toward rent.

youAtExample OP t1_j6nhwtq wrote on January 31, 2023 at 4:15 PM

Reply to comment by nversace in I'm considering selling my home, renting for a year, then buying my second home in order to avoid some of the stress of trying to sell and buy at the same time. Is this a bad idea? by youAtExample

Thanks for taking the time to respond.

It will definitely be something of a hassle. It's me, my wife, and our baby. I'm planning to use a moving company.

Maybe I should look into a bridge loan. I could technically handle both mortgages for some time, but I don't have the cash for 20% down payment, which I want to do. I'm moving from a fairly high cost of living area to one that's a bit lower, about 2 hours away.

youAtExample OP t1_j6mtij8 wrote on January 31, 2023 at 1:23 PM

Reply to comment by surfingonmars in I'm considering selling my home, renting for a year, then buying my second home in order to avoid some of the stress of trying to sell and buy at the same time. Is this a bad idea? by youAtExample

To have enough cash to make a down payment on the new house.