Senior Contributor
Posts: 3,240
Registered: ‎04-03-2008
Re: Want to buy a new Home but can't sell Current House

runNL8 wrote:

We have out grown our home and DW and I are tring to figure out a way we can buy a bigger home to suit our needs and accommodate our growing family. Our current home is worth $30K less then what we originally mgt so selling it is out of the question (I think). 


I was thinking that my only other choice to make this work is to rent it out, and then see if we could get pre-approved for another mgt. Has anyone done this? What are some of the stipulations and requirements to get an approval from a lender?


Do I have any other options................?  


Hmm, it sounds like you are stuck, as others have noted you probably cannot buy another house any time soon unless you have equity in this one.  Perhaps you can find creative ways to make better use of the space you have now.


This book is my absolute favorite book on how interior design can maximize the use of space, it's a decade old now and out of print but used copies are available.  Her focus is on principles not products so the book's age is not much of an issue.



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