Debating whether buying another property or not

[Alexander Ferrer tortorelli]

Hello everyone , this is Alex f Tortorelli, former army soldier , 35 years old , Hvac service tech working my way up to have my own hvac business in 2023:

I own( am financing ) a house in Fort Worth Texas , bought for 250000 with VA loan , didn't do any down payment . The house now has appraised for 325000 , analyzing the for how much houses are selling in my neighborhood with the same house specifications.

Bought the house January 2020 after selling my house in North Carolina , I did irrl refi with 2.25 % which has been really beneficial to me in regards monthly mortgage payments.

I am looking to buy another house near my area , I got pre approved for conventional loan , 420k maximum .

My plan is to rent the house I already have and move to the new house that is in a better Neighborhood, and has a big potential to appraise in the future .

I’m going to put 5% and and will pay mortgage insurance.

Can someone tell out there if you have a better plan or standpoint in regards your real estate experience ?

[Steve Vaughan]

@Alexander Ferrer tortorelli  i can understand moving up in neighborhood, but moving up in house every 18 months (wait at least 2 years for tax efficiency) will be a wealth anchor.  

Either way, don't move until your 2 year mark. Nobody can tell you if a new $425k primary is a good bet/idea or not.  Will you buy below market value, off-market, solving a sellers problem?   Or get an agent and pay retail like everyone else?

The boxes we live in should not be the focus while we are in the accumulation phase of our journey.