Financial Advice Q: Selling house, what to do with the money?
Just hoping to get some opinions here...
I recently purchased a pre-con home from a builder. (700K, close in Aug 2015)
Currently own a condo worth about 390K, mortgage is 180K
My original plan was to sell the condo just before the new home closing. But I am thinking about selling it right now and renting until my new place close. Reason being, if the housing price drops, I won't get double "hit" holding two properties at the same time...(it could go the other way, but I am rather risk adverse)
My question is, if I sell the condo right now, I will have about 200K in cash.
What would be a good place to put that money for one year? I do my own stocks trading, but I am not sure about putting this money in stock since I will need it for closing next year so I have a fairly low risk tolerance
What investment would you guys suggest? And what kinda of return do you think I can get in one year?
I recently purchased a pre-con home from a builder. (700K, close in Aug 2015)
Currently own a condo worth about 390K, mortgage is 180K
My original plan was to sell the condo just before the new home closing. But I am thinking about selling it right now and renting until my new place close. Reason being, if the housing price drops, I won't get double "hit" holding two properties at the same time...(it could go the other way, but I am rather risk adverse)
My question is, if I sell the condo right now, I will have about 200K in cash.
What would be a good place to put that money for one year? I do my own stocks trading, but I am not sure about putting this money in stock since I will need it for closing next year so I have a fairly low risk tolerance
What investment would you guys suggest? And what kinda of return do you think I can get in one year?