Updated almost 9 years ago on . Most recent reply
Should I sell? My property has appreciated +$90K...
I want to move to a different nerby city (Austin), debating on rent or sale. My propery is in San Antonio, Texas, in a very desirable neighborhood. If I sell now, I should get easely 90K in profit after all expenses. Rent is about average for this type of property in a desirable neighborhood ($2,500/month). So I can refinince to 30 years and rent and get some cash flow (guessing $200 after all good stuff)... Should I sell or rent? My concern of renting is maintenance stuff, like pool, yard, etc. and people not taking care of basic stuff... HOA is hardcore and I suspect I will be getting mail letters and fixing issues more than often.
Most Popular Reply
Based on your discussion. I would definitely sell. San Antonio is certainly hot, my daughter is getting ready to sell her home since the Air Force is transferring her to Germany.
The concern with Pool and the HOA is the biggest flags for me.
If you have found a property already in Austin, you might want to do a 1031 exchange. You will be able to roll your equity into the next property without the capital gains hit and you should be able to find a great property. The kicker is the timelines to find and close on the next property.
Good luck