Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

11
Posts
3
Votes
Nicholas Davis
  • Purvis, MS
3
Votes |
11
Posts

Should I Sell My Primary Residence?

Nicholas Davis
  • Purvis, MS
Posted

While surfing around Zillow, I noticed that the houses for sale (pre-owned and new construction) in my subdivision are selling for $10K-20K more than what I paid for my house. 

In my area you can buy/build a home foe similar money as renting. We bought the house for $150K and the payoff is a little less than $140K. I have a background in engineering and survey and my wife has a background in architecture design. We picked the land and house plans with the intent on making the house more desirable than any other in the subdivision. 

We've been in the house for 3 years now and I'm flirting with the idea of selling the house for a $15K or so profit and building a new house to live in then repeat. 

The area I live in is under steady growth as the primary large city it is near has started to reach it's capacity. What are your thoughts about moving forward with this idea? 

Most Popular Reply

User Stats

232
Posts
170
Votes
Matt Nusbaum
  • Rental Property Investor
  • Annapolis, MD
170
Votes |
232
Posts
Matt Nusbaum
  • Rental Property Investor
  • Annapolis, MD
Replied

Hi @Nicholas Davis Does the 15k profit include closing costs/paying for an agent? What is your overall goal? Personally 15k would not be enough for me to want to deal with the hassle of moving. I think you're on the right track with moving/building a house to essentially flip every couple of years. That said, I think finding a run down house in a good neighborhood and renovating it would be a better strategy than building from the ground up each time. 

Loading replies...