We hate our house
We bought our first townhouse in Calgary in 2024, and we’ve realized it was the wrong choice for us. We don’t like the house or the area, and we’d like to move as soon as it makes financial sense.
Our 3 year fixed mortgage is up for renewal in April 2027. The problem is that townhouse prices in our area have dropped, and we think we’d be looking at a loss of at least $50,000 if we sold today.
If we’re not able to sell before renewal, what type of mortgage would you recommend? Should we go with a short term fixed, variable, or something else if we hope to sell within the next year or two?
Also, is there anything else we should be doing now to put ourselves in the best position to move when the time is right?
Any advice from people who have been in a similar situation would be appreciated.