So we are considering moving, but not really sure what to do. Backstory...
We have been traveling around in our RV for around a total of 5 months this year. Will probably do the same yearly for the near future. We both work from home, I have my own business my gf works for company, but company may be sold this year so that job may go away, we can live off my income.
Love the current house and the area. Hate the HOA (maybe not hate, but dislike), can't keep rv here per HOA and have no space anyways. Big issue for me is we cannot rent our house or anything like that (airbnb etc). While we like the area we are not particular close to family. Her family is an hour north, my family an hour south. HOA fees go up every year. Community is pretty safe, never had an issue in 7 years, even while we are gone, knock on cyber wood.
We are contemplating purchasing a house near her parents which is further north. Would have no HOA and place to keep RV. Also thinking maybe we could rent it out or airbnb or something while we are gone in the RV. Could even install connections at house so RV could be all setup while we are home and could rent that out or for family or what not.
Main questions come down to $$. I bought my house at the bottom of the market, paid about $200k for it, worth just under $400k per realtors I've spoken to. I've definitely put money into it, new roof, AC, patio, garage floor etc and I owe about $120k on it.
Now it starts getting complicated and what's making me question the whole thing. Since I'm self employed banks will only go off my last 2 tax returns for income. Only been doing this full time for 2 1/2 years. Also I guess my accountant is good because the numbers on those returns suck pretty bad. So basically getting a mortgage will be a pita and definitely wont happen until much later in the year when i can file the 2018 taxes.
However with just the equity in the house I could purchase something else cash and have no mortgage which I like. However while there are ok houses for around $200-$250k (what I can afford with just equity) none of them are our ideal choice and I feel they are all a downgrade from our house.
Sooo... that was a long ass ramble and I'm not sure what my point is. Here are some of my options as I see them... I guess looking for general input.
1. Get "crappier" house with equity, be happy I have no mortgage or HOA and can do what I want.
2. Wait probably a year until I can get a mortgage. Use mortgage for the new house, cash in as much of the equity as I can. Invest that or get rental property or whatever.
3. Stay where I am only owe $123k, deal with HOA and having to pay to store RV at storage place. Not have to deal with any of this moving hassle.
4. Sell house, sell everything we own or put in storage, live in RV until market crash (if it happens) or we find perfect house for amazing deal (fat chance?). Deal with the hassle of finding a spot for the RV in summer in FL.
5. Afraid I would be trading a good buy on my house for a shit buy on the new one given the market has been going pretty crazy that past 7 years.
Fuck me, probably longest post I've ever done.
