What are your parents trying to achieve with the sale of their home? Are they planning on moving to another area or state; planning on downsizing; or wanting to make a killing in the real estate market.
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real estate info in Navarre
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What are your parents trying to achieve with the sale of their home? Are they planning on moving to another area or state; planning on downsizing; or wanting to make a killing in the real estate market.
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Actually,
They bought the house a while back and have loved it as a second home. But now they are tired of mowing the lawn and taking care of it. They want to move to a condo instead closer to Destin and closer to where we live. But they just don't know if they should wait or sell. They could price it competitively without taking a loss because they have held it for a while, but they don't want to sell it now and just break even only to realize that if they had waited a year, they would have made a profit. The have thought about renting it out, but their neighborhood only allows long term rentals and that means they cannot use it at all.
They bought the house a while back and have loved it as a second home. But now they are tired of mowing the lawn and taking care of it. They want to move to a condo instead closer to Destin and closer to where we live. But they just don't know if they should wait or sell. They could price it competitively without taking a loss because they have held it for a while, but they don't want to sell it now and just break even only to realize that if they had waited a year, they would have made a profit. The have thought about renting it out, but their neighborhood only allows long term rentals and that means they cannot use it at all.
Do they realize that if they wait and have a "chance" to make a profit next year they might also "chance" to be paying more for a condo next year too? (IMO I don't think prices will be going up by next year in either location.) Have they even started looking (and pricing) condos yet?
I think the house will tend to hold its value better than condos in Destin going forward (since there are so, SO many)--but depending on the size and amenity fees, the condo may result in lower carrying costs and give them the opportunity to rent it out when not in use.
Personally, I'd unload the house sooner, rather than later--and just rent a condo in Destin, (or anywhere else in the world for that matter) during their few months' vacation. Leave the insurance, maintenance, taxes and headaches to someone else and live the free-and-easy life.....but that's just me.
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