Would you move if your home price doubled? Where?

[StormyDay]

So, I found out the house I purchased last year has gone up in value significantly. If I sold right now, I could walk away with about 500-600k.

However, there’s absolutely no way I could purchase anything in the area again. The prices are way too high and I am locked in at an excellent percentage rate. I’d have to leave the area I love, and I’m not even sure how far away I would have to move in order to afford to purchase something.

But the temptation of not having a mortgage at all is strong. And while I love the area, it’s getting bulldozed over for condos and mega mansions on acre size lots. Everywhere I turn is another housing community going up.

It’s purely speculation right now. I’ve not made any hard decisions, but I am gently looking. Is there a place left in the country where you could get a good house on at least 10 acres with a barn for less than, say, 700k? Or is that a dream in this housing climate?
I can work from anywhere as long as it has internet, which is a bonus.

[cayuse]

I’m in the same boat, still looking .

[Obsidian_Fire]

I wish. I guess it depends on what you want to put up with weather-wise. Someone just told me their neighbor sold for $$$ and moved to South Dakota, got a farm with barns and 20+ acres for under 200k. But South Dakota… not where I’d choose to live.

[anon40672407]

Not me. Where I live is based on other factors, I guess. I need to remain within reach of the grandkids, and they’re in one of the most expensive markets, so nearly anywhere else is cheaper (but moves us further away). Plus, of course, I’ll never see an interest rate this low again.

Sure am thinking about selling a couple of the rentals, tho!

[luvmyhackney]

I would move down south to SC/Georgia/TN area. You can still find reasonable priced property outside a decent sized city.

Really depends on employment and ability to have good internet since I’m remote.

[badibug]

I’m from Oklahoma originally, and there is a pretty good horse scene - particularly near Tulsa and Oklahoma City. Some wonderful dressage and jumping instructors available. I just checked Redfin and I see some nice homes in the suburbs south of Tulsa in the $400-600K range on 10+ acres, then you could add the barn. As long as you don’t mind long hot and humid summers and bugs, it’s a pretty nice place to live.

[JanM]

Just remember in today’s bizarre real estate market, you better have your next home under contract before you put your current one on the market. I would love to move away from several of my neighbors, but there is nowhere affordable to move to. Unless I want a total fixer upper, and I’m not doing that, or some of the less desirable places to live in the town I live in.

[OfCourseItsAnAlter]

There are lots of places where you can find a nice 10+ acre home with nice pasture and a barn (or a place to put one) for less than $700k. The important questions are:

1. How rural are you willing to go?
2. How much culture shock are you willing to embrace?
3. What kind of weather extremes are you willing to accept?
4. What level of horse services do you consider to be minimally acceptable?

And don’t move anywhere you haven’t completely checked out first.

I live in a very rural area. We have had a huge influx of new residents over the past 2 years. It’s really ridiculous how many people move here and are then shocked - Shocked!!! - to discover that they can’t get high speed internet, their cell phones don’t work at their house, it’s almost impossible to find good, reliable trades people, and you have to drive two hours to shop anyplace other than Wal-Mart.

[lenapesadie]

I apologize in advance if I have you mixed up with another poster.

Didn’t you get a piece of property in/near Ocala? Fix that place for horses, move there for a year or three and then buy another property when RE cools.

[StormyDay]

@lenapesadie

I apologize in advance if I have you mixed up with another poster.

Didn’t you get a piece of property in/near Ocala? Fix that place for horses, move there for a year or three and then buy another property when RE cools.

I do have a piece of property down in Ocala. However, it’s very empty, and I’m not sure how well I would fare camping in the FL summer

The Ocala property is my dream winter property, but realistically an actual house on it is several years away. And pretty much every decent builder is on a 8-12 month wait list right now.

[StormyDay]

@luvmyhackney

I would move down south to SC/Georgia/TN area. You can still find reasonable priced property outside a decent sized city.

Really depends on employment and ability to have good internet since I’m remote.

I lived in Aiken for a while and really liked it. However my cursory research shows I’ve been priced out of the market anywhere near there.

[StormyDay]

@badibug

I’m from Oklahoma originally, and there is a pretty good horse scene - particularly near Tulsa and Oklahoma City. Some wonderful dressage and jumping instructors available. I just checked Redfin and I see some nice homes in the suburbs south of Tulsa in the $400-600K range on 10+ acres, then you could add the barn. As long as you don’t mind long hot and humid summers and bugs, it’s a pretty nice place to live.

Interesting, what’s the winters like? I’ve already got hot and humid in VA, so I’m used to that.

[StormyDay]

@OfCourseItsAnAlter

There are lots of places where you can find a nice 10+ acre home with nice pasture and a barn (or a place to put one) for less than $700k. The important questions are:

1. How rural are you willing to go?
2. How much culture shock are you willing to embrace?
3. What kind of weather extremes are you willing to accept?
4. What level of horse services do you consider to be minimally acceptable?

And don’t move anywhere you haven’t completely checked out first.

I live in a very rural area. We have had a huge influx of new residents over the past 2 years. It’s really ridiculous how many people move here and are then shocked - Shocked!!! - to discover that they can’t get high speed internet, their cell phones don’t work at their house, it’s almost impossible to find good, reliable trades people, and you have to drive two hours to shop anyplace other than Wal-Mart.

Moderately rural. I’d like to be under and hour and a half to a city. Under 30-45 min to a town with a grocery store.

I’m not sure how much more my culture could be shocked; west coast born, then lived in FL, GA, SC, NC, and VA. Boston might be shocking I guess

My only requirements for weather are; the area must have grass (no Phoenix), the area must have some semblance of seasons (no Miami) and the area cannot be in the rainy PNW because I can’t tolerate the misery of rainy days any more than I did growing up. I can deal with cold as long as I’ve got an indoor, so if the price is right that’s NBD.

I must have access to good equine vets. Which I know does limit me. It would be a bonus if there’s a good horse community in the area, but not a deal breaker; if I have no mortgage I can travel to shows a lot easier.

As for high speed internet, I haven’t had that in years. We are on a dish right now. Couldn’t do the 2 hours to a non-Walmart though. I have Walmart PTSD

[BrendaJane]

@StormyDay

Is there a place left in the country where you could get a good house on at least 10 acres with a barn for less than, say, 700k?

yes, but you wouldn’t want to live there.

[Turntable]

Prices are going to crash. I would sell if I could clear that kind of money and rent for a year and see what has happened.

[badibug]

There are four distinct seasons. Fall and spring are lovely, but too short of course! Winter can get cold but it generally doesn’t stay below freezing for too long. Oklahoma does sound like it could fit the bill for you. There are some really great equine vet clinics near the bigger cities and OSU has a vet school. The northeast corner, including Tulsa area, is known as “green country.” The spring rain greens things up nicely and there are plenty of rolling hills, trees, and open pastureland to make a pretty landscape. I’m not as familiar with OKC, but Tulsa is a fun city with lots of restaurants, good shopping, concert venues, etc. I mainly left because I can’t do hot and humid.

[Foxglove]

No. DH and I are 70, four horses are 25, 25, 15, 15. Neighbors just sold their 6 bedroom house 12 acres for 1.5 million. We have similar but 15 acres and 4 bedrooms. DH and I discussed moving. Decided to “hang on” until there are 2 horses and reevaluate then. FYI we bought our place for 150K 25 years ago.

[clanter]

there is a different mind set once you cross the Mississippi River, east side the traditional trailer is a straight load with a ramp, west of slant load step up are most common.

Like mentioned above, sell now wait a little while until this market settles some, or if you see a place you like make a low ball offer

but before you might want to talk with a tax consultant/CPA about what if any capital gain tax you would incur if you sold the current property then waited to buy a newer property…could be as high a 37%

[cnm161]

Consider the midwest, especially +/- an hour from a college town (Madison, WI; Columbus, OH; basically anywhere in lower MI; etc.): decent veterinary programs, history of agricultural connections, hay is cheap(er).

Downside: winters. And also biting flies in the summer.

[js]

Depends; while your house has doubled in price so have many of the other houses across the country, so you are likely looking at houses that have also doubled in price too. Also, while the house you are selling/buying may be worth more now, in a year or so that price could drop significantly and you could end up under water on your new home.