Updated over 10 years ago on . Most recent reply
moving to a new place, should we rent our old house? PLEASE HELP
So here is my question. (Lincoln, IL) The house we live in we have had for a few years, we put 14,000 in it and it's absolutely beautiful. We got in when rates were around 2.4% and our payment is around 650/mo. We can rent it for around 850/mo or sell for around 98-100k. We owe 85,000 so we wouldn't get more than 8k after commission. My agent said we could list for 108k but it would take awhile to sell it over 100k. Is the 200 from rent going to cover costs? I would hate to lose that awesome rate. It is an imaculate 3/2 with a 2.5 car garage in a nice neighborhood. I would love some opinions as to what I should do. Thanks in advance!