Good morning! would you sell or rent this place?
Good morning all, hoping to get some advice and learn some new things!
Moved to NE Houston a couple years back from Buffalo NY and this area has really seen a jump in home prices. My parents had rental properties so I know a little bit about REI but not sure about my own situation now.
Bought our house a couple years ago for $90k, realtor mentioned when we outgrow it that it would be a great house to rent. Its low maintenance, nice area/schools and HOA takes care of the lawn. Would get $130k if we sold it, or about $1400/mo rent. We would be looking to move in a couple years, needing a bigger house for our growing family, but I am thinking its a better decision long term financially to rent this house than to sell and take the gains for a down payment on the next home? Would you agree? And would you focus on paying down the mortgage over the next few years (we owe 85k) or do something else with extra money? Appreciate it!