Lori

Housing

From Owning to Renting

My husband and I and our two tween-aged kids have been in our three bedroom, one bath co-op apartment for five years. We put a lot of work into it hopefully gaining sweat-equity. A couple years ago, we felt like we needed something slightly larger and casually looked around, hoping to put our equity into a down payment on something with two bathrooms. We got busy with school and work and lost the thread on our search. This Spring we finally got on the ball and put our co-op on the market at the price our neighbors sold their similar unit for two years ago. We ended up going under contract after around 40 days for around 35,000 less but felt like if we wanted to keep any equity, we should go with the deal.
At this point we are signing a lease on an equally sized apartment in "rental" condition up the street, renting again for the first time since just out of college. We've decided we are lucky to have any equity at all and are going to hold onto it until the housing market feels less jangly.
It's a mental leap that feels wrong but could be right.

415 9th Street