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To sell or keep primary residence

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Nic | 20 Nov 2013, 01:44 PM Agree 0
HI Everyone,
Im hoping we can get some advise regarding our property.

We purchased our home in 2007 for $301,000, renovated it so the loan is now $370k. The house is now values at min $600k.

We recently decided to move closer to my family, so we rented out our home for $510 per week and we are currently renting in a different area for the same amount.

To buy in the area we are in now which is where we ultimately want to stay, would be purchase price of minimum $700- $750k which is alot.

Do we continue to rent our place with covers the mortage + $20 a week? Keep it and change to interest only?
Or do we sell and put money in the bank to buy around here, interest only so we can afford it or wait?

Really unsure as to what we should do.
Any advise for us would be fab.

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