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Updated over 6 years ago on . Most recent reply

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Mike Carollo
  • Dover, DE
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Sell home or rent it out for next 3 years?

Mike Carollo
  • Dover, DE
Posted

So we’ve owned our SIngle family home for 3 years and are about to move overseas for 3 years (I’m an officer in military).  We will definitely be renting a home overseas.

Is it best to sell this home when we move this summer or rent it out for 3+ years (then possibly sell when we return to USA).

We owe 273k on house.  Zillow says it’s worth $295k.  I think we could rent it for $1800/mo.  Our mortgage + hoa comes to $1475/mo.  House has 4 beds, 2.5 baths (2300 sq ft) plus finished basement (1000 sq ft with “bedroom” and another bath.

My thought was 3 years of renting it out would reduce principle and hopefully home would appreciate.

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