Ok here is the low down
We have a town-house at Capalapa.Repayments are reasonable at $320 (good down payment meant a loan in the high 100 thousands) but pay extra on that to keep ahead and so on.
The problem is the TH is not really big enough for all of us to live in (especially since we want to add to the family) We are trying to work out what to do. DP thinks it wont sell because of the market and that he should hold on to it because the area will boom.
Is it a bad time to sell? Obviously if we sell and buy in the same market it really makes no difference??? he may not budge on wanting to hold on to it for a while longer so is it a ridiculous idea to rent it out and then rent something else for ourselves that is more suitable? I mean obviously the rent incoming and outgoing would need to be the same so that it cancels each other out, know what I mean? Or is that just financially stupid?
I'm not really sure that we could afford to keep it and rent it out and get a whole other loan but I'm thinking that would be the ideal situation. Buying while the market is down and then sell the TH when the market starts creeping up again???
Ok so it's clear I really don't know much about this stuff but I'm so over this situation and desperate to resolve it, like.... yesterday!!!