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:
Yes, depending on what you’re 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 without going up in price, 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
- A smaller home
- 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 helps…
