Question:
“I own a 3-bedroom condo in Pacific beach and I’d really like to trade it for a house with a yard and keep my monthly payments the same. Do you think that’s possible?”
Answer:
What are you willing to give up?
You may be able to sell your condo and buy a small 2BR house further from the beach in Pacific Beach on a half-lot with a yard.
Or you could sell it and move east of the 5, where prices are lower, and get a nice house on a full lot with a large yard.
The bottom line is…
Unless you get extremely lucky (don’t plan on it), if you want to improve where you are now, you may have to make a trade off. Perhaps you’ll trade:
- Your current payment for a higher payment
- A house for a condo
- Large for small
- Near the beach for not so close
- Etc.
Of course, sometimes you’re happy to make the trade. Perhaps you:
- Want a condo instead of a house
- Want a smaller home
- Want to move inland and/or north or south
- Etc.
By the way, I didn’t address the word “trade”…
If by “trade,” you mean sell yours and buy another, that’s easy. If you meant “trade my home directly to someone who owns a home I want,” forget it.
The odds of you wanting someone else’s home and that person wanting yours AND you both agreeing on a price are pretty slim.
Hope that info helps…
