ok, here’s the deal, in jan. i signed a contract to start building a house for myself, i put 5k deposit down and it’s going to be done being built about aug. i have since decided i don’t want the house for myself and i wanted to get something bigger in a different city. i’ve found a resell home and i’m buying it for myself to live in (first home) i close may 2nd. basically i have 3 options on the house that’s in constuction…
the home is 1580 sq ft, tile, flat top range, wall oven/microwave in brick, neutral colors, screen lanai 3/2 nice master bath. i went under contract @ $174k
- let it go, lose $5k (last resort)
- attempt to presell home and assign contract, it would probably sell for about 185K+/-
- Close on the house and rent it out, i would most likely break even with the mortage so there would not be any + cash flow from the property.
i’m in central, fl one of the hottest markets right now, i’m thinking that last option is the best and would be the smartest, since i did get pre-construction pricing, i could rent it for 3-4 years and make a decent dime on it.