I was afraid of this happening - falling in love with a place before my old place has sold and before Ive finished up some fixes that are in the works. It ticks almost all the boxes - historic house, income producing (is a successful small guest house and I wouldlcreate owner occupant quarters for myself), nice setting, has fresh air, quiet, dark skies, trees. As a last resort I think I could make purchase contingent on sale o current house - which is is flaming hot market and Ive been advise that t would probably sell within days.

Since I cant use the guest house income to qualify, and since the property is priced higher than I can afford with a conventional mortgage loan, the only loan possible is one where my current house (which I own free and clear) secures it. I know this means they could take both old house and new, but in reality how exactly would that work in the real world? They would really take both houses and leave me broke and penniless? Or would they take oportion from sale to repay the loan?

Also a commerical loan may be possible, and does have some benefits but then the interest rate is quite a bit higher....

One other thing kinda making me nervous. I grew up in small rural town, then went to big city and never looked back. That was a gazillion years ago. Place I looked at is not totally out in the boonies, theres culture + influx of visitors and so would not feel isolated. Still I had a moment of shock when I realized the woman I talked to at the local bank was related to the person who showed me the house! Like - whoa, this really is a small town. I would NOT be anonymous and all my quirks and foibles would be known to everyone. In a way thats appealing, in a way its kind of unsettling.

Anyone else out there make transition from big city to smallish town?