Ameritas dental the home and downsize or invest or some combination thereof so let’s chat through all of these now let’s start with ameritas dental the option of selling your home in a few years and downsizing this set off a couple of red flags for me and here’s why you mentioned that you might not live in Austin forever now.
I don’t know what your definition of forever is but let’s say that there’s a reasonable likelihood that you might move out of Austin within the next we’ll say five to ten years if you sold your home and downsized and then moved out of
Austin thus requiring you to sell your home again here’s what would end up happening when you sell your home you would pay around seven percent in closing costs that’s about six percent for a real estate agent fee plus another one percent maybe even .
Percent in seller paid closing costs now you mentioned that you owe three hundred and fifty thousand dollars on your home which means that the value of the home I’m gonna assume is maybe around four hundred and fifty thousand you wait .
A couple of years by the time you sell it the home is worth four seventy five you sell it you pay seven percent in closing costs which means that you take a thirty three thousand dollar haircut plus you pay the costs of all the moving expenses associated .
With moving to a different home if we conservatively estimate that at another two thousand dollars that means that selling your home and downsizing will cost around $, in terms of agent Commission’s closing costs moving costs you purchase .