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2x mortgage on single income

Home Mortgages and Home Buying 2x mortgage on single income

  • Avatar StateOfMyHead 
    Participant
    Status: Advanced Practice Provider
    Posts: 143
    Joined: 01/01/2019

     

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    I’ll elaborate but first I’ll clarify. Your statement “how well a home will re-sell” may mean different things to us. You mentioned having a quick and painless resale. I take your statement as a home appreciating and the homeowner making money on it. I think lots of people buy a primary residence with a goal (either consciously or subconsciously) of making money on it. I’m of the opinion that a primary residence is bought for shelter, not for investment. Would it be nice to make money on a home? Duh. But that shouldn’t be the primary or even secondary reason of a home purchase. However, I think many of the reasons people buys homes will typically encourage a profitable resale, i.e. good schools, good community, no major home issues, etc.

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    Thank you. At this stage in my life with my residence it isn’t about making money, although that would be nice, but more that I take into consideration if it is likely to be one that I will have to sell for a significant loss in an effort to unload it in a reasonable amount of time.

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