Would it be smart to sell my condo and break even or possibly sell 5,000 under what I owe and buy a single?

Asked by apeterson, 08527 Fri Jul 4, 2008

family house since the market is low? What

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Susan Wesely, , Saint Paul, MN
Fri Jul 4, 2008
The answer to your question is definitely "it depends". How long have you been in your condo? Do you still like living there, or do you really want to move? Why? Would you prefer to be in a home where you are responsible for all the maintenance? Have you found any likely properties? How long would you stay in the new property? It doesn't sound like you have much equity. Do you have enough cash to cover a down payment and closing costs? How does the market look in your area for condos vs single family homes? A local Realtor could help with some of these questions, and a financial advisor could also help, but some are really personal choices for you to determine.
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