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Post Closed as "Duplicate" by yoozer8, minou, MD-Tech, Dheer, JTP - Apologise to Monica♦ united-states
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Runeaway3
Runeaway3
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Pretty self-explanatory here. I have owned the home for just about a year; I still believe in the neighborhood's long term potential, but there is a bit of seller'sbuyer's market due to COVID and it is causing homes to sit for a while on the market, thereby inducing price cuts, thereby reducing the value of my home (based on a CMA). What should I do? I figured I just sit tight on it; either rent it out or live in it myself. Is the long term hold the move here? That's what seems to make sense to me but I want to make sure I have considered everything.

Edit: To clarify, the original intention of this property was to buy it, live in it for a bit, and then rent it out perpetually as a source of income. The going rate in the area puts the property (if fully rent it out) at a -$50/month cash flow.

Pretty self-explanatory here. I have owned the home for just about a year; I still believe in the neighborhood's long term potential, but there is a bit of seller's market due to COVID and it is causing homes to sit for a while on the market, thereby inducing price cuts, thereby reducing the value of my home (based on a CMA). What should I do? I figured I just sit tight on it; either rent it out or live in it myself. Is the long term hold the move here? That's what seems to make sense to me but I want to make sure I have considered everything.

Edit: To clarify, the original intention of this property was to buy it, live in it for a bit, and then rent it out perpetually as a source of income. The going rate in the area puts the property (if fully rent it out) at a -$50/month cash flow.

Pretty self-explanatory here. I have owned the home for just about a year; I still believe in the neighborhood's long term potential, but there is a bit of buyer's market due to COVID and it is causing homes to sit for a while on the market, thereby inducing price cuts, thereby reducing the value of my home (based on a CMA). What should I do? I figured I just sit tight on it; either rent it out or live in it myself. Is the long term hold the move here? That's what seems to make sense to me but I want to make sure I have considered everything.

Edit: To clarify, the original intention of this property was to buy it, live in it for a bit, and then rent it out perpetually as a source of income. The going rate in the area puts the property (if fully rent it out) at a -$50/month cash flow.

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Runeaway3
Runeaway3
  • 2.9k
  • 6
  • 23
  • 42

Pretty self-explanatory here. I have owned the home for just about a year; I still believe in the neighborhood's long term potential, but there is a bit of seller's market due to COVID and it is causing homes to sit for a while on the market, thereby inducing price cuts, thereby reducing the value of my home (based on a CMA). What should I do? I figured I just sit tight on it; either rent it out or live in it myself. Is the long term hold the move here? That's what seems to make sense to me but I want to make sure I have considered everything.

Edit: To clarify, the original intention of this property was to buy it, live in it for a bit, and then rent it out perpetually as a source of income. The going rate in the area puts the property (if fully rent it out) at a -$50/month cash flow.

Pretty self-explanatory here. I have owned the home for just about a year; I still believe in the neighborhood's long term potential, but there is a bit of seller's market due to COVID and it is causing homes to sit for a while on the market, thereby inducing price cuts, thereby reducing the value of my home (based on a CMA). What should I do? I figured I just sit tight on it; either rent it out or live in it myself. Is the long term hold the move here? That's what seems to make sense to me but I want to make sure I have considered everything.

Pretty self-explanatory here. I have owned the home for just about a year; I still believe in the neighborhood's long term potential, but there is a bit of seller's market due to COVID and it is causing homes to sit for a while on the market, thereby inducing price cuts, thereby reducing the value of my home (based on a CMA). What should I do? I figured I just sit tight on it; either rent it out or live in it myself. Is the long term hold the move here? That's what seems to make sense to me but I want to make sure I have considered everything.

Edit: To clarify, the original intention of this property was to buy it, live in it for a bit, and then rent it out perpetually as a source of income. The going rate in the area puts the property (if fully rent it out) at a -$50/month cash flow.

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Runeaway3
Runeaway3
  • 2.9k
  • 6
  • 23
  • 42

I believe I have paid too much for my home, what are my options?

Pretty self-explanatory here. I have owned the home for just about a year; I still believe in the neighborhood's long term potential, but there is a bit of seller's market due to COVID and it is causing homes to sit for a while on the market, thereby inducing price cuts, thereby reducing the value of my home (based on a CMA). What should I do? I figured I just sit tight on it; either rent it out or live in it myself. Is the long term hold the move here? That's what seems to make sense to me but I want to make sure I have considered everything.