Asked by Edie, Chesapeake, VA • Tue May 27, 2008
mom (4 BR, 2 BA; 1835 sf), nothing wrong with it, probably had $150k in equity. Tried selling it last year (that was tough with the kids, showing it, etc.!) but after a year and a couple of close calls, nothing happened. So, we took out a 2nd for $100k, remodeled, paid some bills - the appraised value went down probably $45k and we now have a very nicely updated ranch that we owe $240k on that is worth about $280k?? That's what the other 4br 2ba's are going for in Great Bridge here in Chesapeake, VA!
Now, my question is this: I need more room!! We could sell this house, pay off our existing bills (about $30k), buy a bigger house for about $375k (without much $$ down like before) and even though taxes are high - our pmt would be about what we are paying now for this small house and our bills together! Which I figure would be around $2,400 (I think). My husband doesn't want to go through it again and my kids never did! But I can't stop thinking about it and looking!! Help!!
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