Sell and break even?

Profile picture for real estate mike
A friend who also happens to be a client wants to get a bigger house and a pool. He's been in his almost four years and can break even at closing. Now there are foreclosures in his suburb that have most of his characteristics of a dream home and he can do any small repairs. He called me and said, "thinking of a bigger house with a pool". So I mention the olympic size pool at the gym walking distance from his current house(cheaper option). His budget is tight now but 9 months to no car payments. Take the $8k and get the larger house with pool or wait until next year when extra cash flow to support higher a.c. bill, water bill, etc. ? 
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June 18 2009 - Carrollton
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Profile picture for MikeEmery
He currently owns a home that is his primary residence? He doesn't qualify for the First Time Homebuyers Credit of 8k.

If he's already stretched living in the home he is in, how on earth can he afford something bigger with pool upkeep?

Wait, wait, wait.
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June 18 2009
Profile picture for real estate mike
Yeah I been in the sun too long today(love tennis), no $8k involved.
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June 18 2009
 

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