The Big Move: ‘It just seems wasteful’: I bought a 3,000-square-foot house at a 3% interest rate. It’s too big. Do I sell?

by | Sep 29, 2023 | Stock Market

Dear Big Move,  I’m a 29-year-old woman who purchased my home in a small town in Illinois two years ago. I was shocked at the time to even qualify as I am the first homeowner in my family. I went big, and the house is 3,000 square feet. I make six figures, and can afford the home. My mortgage is $1,200 a month with a 3% interest rate. 

It’s just me and the house feels so huge for one person, and the upkeep is a lot of money. I don’t have a family or friends nearby, so it just seems wasteful. I also don’t have anyone to show my home off to. I want to sell, and buy a small condo. However, everyone is telling me not to because of interest rates. Thoughts? Single and Stressed ‘The Big Move’ is a MarketWatch column looking at the ins and outs of real estate, from navigating the search for a new home to applying for a mortgage. Do you have a question about buying or selling a home? Do you want to know where your next move should be? Email Aarthi Swaminathan at [email protected] Single, You’re very lucky to have found a big-sized home for $1,200 a month, with a rate of 3%? That’s amazing, given that rates are now over 7%. Even though the home may be too big for you now, if you have kids and need more space, it could be the perfect place. Or if you have aging parents and have the need to keep them close by, the house could also serve as a perfect ho …

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