So, last September, my fiancée and I bought a new construction home for $660K. We put down $130K, got a mortgage at a 6.625% rate, and our monthly payment's around $4K (taxes being retained by lender are much higher than they should be, can only be revised when the 2024 tax bill comes in). Unfortunately, we didn't do our homework on the neighborhood before moving in and now we're kinda regretting it. We're always griping about the area, and honestly, we don't see it as our forever home.
Financially speaking, should we bail now or tough it out for a couple more years (maybe 2-3)? Zestimate says our place's value bumped up by around $25K, but we're taking that with a grain of salt. We know selling this soon after buying might sting, money-wise, but we're hoping for some advice on what's the smarter move.
original posted by 2legit2quittt to r/personalfinance on Wed, 27 Mar 2024 15:57:46 GMT.