u/Ok-House-7425

Should I just take the loss when the time to move comes?

I bought a 3 bed 2 bath home (270k) a few years back at 6% interest rate. I still owe about 200k. The builder DR Horton said the neighborhood would be limited to 1200 people, however they are still building. I was looking to sell to move to another city early next year.

Problem is:

1. Incentives for new home buyers are as low as 3% interest rates.
2. Prices have not gone up due to new homes just like mine being built in my area.
3. Slow market. There are a few homes like mine selling but they have been in the market for a year.
4. Rents are around $1650 and my mortgage is about $1800 with the escrow included.

My realtor said that I could sell the house and pay 30k of closing costs. I would get 40k back and have a better chance of selling the home.

I’m regretting buying my home. Not sure what to do.