An Opportunity Knocking?

Oddly enough, we recently learned that our little condo in Walnut Creek has actually gained value since we purchased it about 2 years ago. In this unpredictable market, we were shocked to learn this interesting tidbit of information. Ever since, we’ve been considering our options- Should we try to sell now while we’re still ahead? Should we consider buying elsewhere while prices and interest rates are low? Should we stay put for a little while longer? Will housing prices continue to fall? Needless to say, this has been a huge decision to mull over.

Although we’re still only pondering our options at this point, I’m starting to heavily favor the consideration to move. Eric and I have been pricing homes in and around the area, especially in Brentwood, where single family homes are very affordable (even less than what we paid for our condo)! Being the type to think intently before any sort of important decision, I’ve outlined some pros and cons of buying: First, we would like to have a family. Of course, the decision to start a family comes with a number of added costs to consider, the largest of which being childcare. If we owned a home and paid less than what we do now for our condo, it would be realistic for me to stay at home with our child or perhaps only continue working part time. Additionally, we would be living in an actual house! With a yard! That fact itself is something to be excited about (Eric is excited to start planting!). The obvious con to this new possibility is the commute- about 20 miles one way for Eric and about 40 for me. But we would be able to carpool together since my hours at the hospital are flexible, which would definitely take the edge off. And then there’s the fact that friends and family would be even further from us. So we don’t want to get too excited just yet. As I see it, staying put or finding a new place each carries their own risks- it’s a gamble either way.

We talked more about our options and did our research by getting pre-qualified for a loan, touring possible neighborhoods of interest, compiling a list of homes we liked, and contacting a realtor. The other day, we had a realtor named Liz who was recommended to us come tour our condo and see if she would be a good agent to work with us. We spent the couple days before our meeting scrubbing the floors, dusting every inch, re-grouting the shower, making sure none of the doors creaked- the house looked really nice when we were all done. The realtor’s response was promising. She noted that our home was decorated very well and seemed optimistic overall, yet warned us that the current market isn’t necessarily conducive for the best sales. So, we’ll have to see what happens! We’re still just trying to weigh our options… I'll keep everyone posted.