After getting married, life became more stable, revolving around the children. As the children grew older, the issue of school district housing came into play. The decision was made to exchange my wife's pre-marriage property for a school district house, embarking on the journey of selling and buying houses.
Selling House#
In the second half of 2020, we planned to buy a school district house. We listed the house on Beike, and soon there was a potential buyer. At that time, we felt the offer was too low and did not agree. Due to changes in my wife's job, the plan to sell the house was put on hold.
Fast forward to the second half of 2022, the plan to sell the house was revived, aiming to sell it by the end of 2023. Finally, the deal was closed in January 2024. There were multiple offers from buyers during this period, all below our expected price, and with a long time until our deadline. None of them were accepted. The offers kept getting lower, and we became more reluctant to sell.
Unexpectedly, in October 2023, there was a stampede in the neighborhood, and the final selling price dropped by nearly 40% compared to 2020. A speck of dust in the era can feel like a mountain on an individual's head. Fortunately, since the house was purchased early, there was minimal loss in principal, not to mention the interest.
The entire process of selling the house felt like gambling, filled with reluctance and helplessness. It resembled stock trading, ultimately leading to cutting losses and exiting.
Buying House#
Fortunately, we were exchanging properties, and the school district house we bought experienced a drop of over 30% from its peak.
After selecting neighborhoods based on elementary and middle school alignment, only two neighborhoods met the criteria. One had a history of over 20 years without an elevator, and the other was close to 20 years old. Considering the duration of residence after purchase, we focused on newer neighborhoods. In 2023, we physically inspected all the available units in the intended neighborhood, and after receiving the final payment, we completed the buying process in April.
During the buying process, we were very concerned about further price drops and prepared for the possibility of being unable to sell the house later. School district alignment truly holds one tightly, making it impossible to break free, leaving us feeling helpless.