Should we sell now or wait until later?

Discussion
1

Hey everyone, my wife and I are planning to sell our current house and buy my parents’ home, which is in a much better area. We’re thinking of buying around March or April of next year, which works well with my parents’ timeline for their move. Another option is to sell now, hold onto the profit (which should be around $180-190k), and move into my parents’ basement until they’re ready to sell it to us.

The first option gives us more time in our current home, but leaves us at the mercy of the market after the election. The second option lets us sell now and secure that profit, but means moving into a smaller space for a while. We’ve lived in the basement before when we were saving for this house, so it’s not completely new. Any advice would be great!

2

Move into the basement. Rates will likely be better in six months, plus spring is when more buyers are out.

3

Blaine said:
Move into the basement. Rates will likely be better in six months, plus spring is when more buyers are out.

Wait, you’re giving conflicting advice. Why tell them to sell now but also say spring has more buyers? They should stay put and sell in spring.

4

@Baer
Haha, you’re right. Yeah, sit tight until spring. Forget the basement. Don’t listen to me up there!

5

I say sell the house. It’s only a few months in the basement, and you’ll have that profit secured.

6

No one can predict the market with complete accuracy; we’re all just guessing based on what we know. The market varies by location—sometimes even block to block. It’s hard to say for sure without more details.

For example, here in the SF Bay Area, some neighborhoods still see bidding wars, while others have homes sitting on the market for a while.