Should we stay put or consider a move?

Asked by Cyndi, Westland, MI Wed Oct 3, 2007

We currently owe $165,000 on our 3 bedroom home in Westland, with Livonia schools. If we were to sell, we would barely break even, possibly lose money. Our family is expanding ( 3 kids, possible 4th with adoption) and we really need the space of a 4 bedroom home. We plan to move in the future adn stay put for 30 years. We have been updating and preparing to list the house in the spring but really wonder if this is the right move considering the terrible economy here in Michigan...

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Maureen Fran…, Agent, Birmingham, MI
Wed Oct 3, 2007
It really depends on the market when you put the home up and how you price it. Our market is saturated and aggressive sellers are getting their homes sold. You cannot run in the middle of the pack and expect a sale.

Is adding on to your current home an option or would it make your home inconsistent with the neighborhood?
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Carlo Gobba, Agent, Bloomfield Hills, MI
Fri Jan 4, 2008
If you are buying up, you will be just fine, I'm sure of it. You may take a little nick on your home sale but nothing compared to teh nick you will take out of a seller when you buy up. (It should more than offset any loss of expected equity that you had.)

Be prepared however. Have a good agent on your side!
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smith3gary, Agent, White Lake, MI
Wed Oct 3, 2007
Cyndi, The Michigan Group is having just the seminar for you Sunday October 7, 2007. Read about it on the website below.
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