Market craziness pricing me out of new primary residence

[Katelyn S.]

I'm mostly curious to see what others would do and commiserate with anyone else in the same situation. My family and I currently own outright one SFH rental and house hack a duplex in the Pacific Northwest. We have outgrown the space in our duplex and I desperately want to purchase a reasonable SFH with acreage nearby. The dilemma has become that it will likely cost around 1 million. The SFH is worth approximately $420k, more than double what we paid in 2013. But of course, if we sold we'd have to pay capital gains. I'm kicking myself that I didn't buy back in 2019 as I'd have nearly 50% equity on some homes selling today.

What would you do? Continue to wait or jump in now?