r/Mortgages•
tiller99

Need help deciding what to do…

My partner and I (both 25 y/o) bought our condo in Oct 2023 for 285k at a 7.375% interest rate. We have paid down the principal to 260k because sometimes we throw extra money at the principal. We currently have it listed for 299k, however our realtor is suggesting we lower to 285k or possibly even 275k. We would like to move into a home as we’re wanting something with more space, no shared walls/driveways, a yard, etc. The homes we are considering are in the 500k - 550k price range. My partners gross income is 108k and mine is 72k, but I may be cutting down to part time. We have 80k in a HYSA and about 80k in retirement funds. Our only debt is a $700 truck payment.

Should we keep trying to sell it in the hopes to buy a new home? Can we even afford a new home?

OR should we remove the listing and refinance?

OR should we remove the listing and keep doing what we’re doing? In that case, what would be the optimal conditions to sell?

Hopefully, I included all the necessary information.

Posted Dec 3, 2025, 1:43 AM UTC

23
Loading comments…