Moving back north in the Spring. Didn’t realize we’d be moving so don’t want to lose the 50k down payment + 50k we’ve put into the 700k home in affluent community north of Texas that we purchased two years ago. Contacting pm companies now to weigh whether to sell or rent. Always wanted to rent prior homes but wasn’t comfortable while in military. My payment is 4200 per month now and can probably get that for rent. I realize I’d likely have to pay pm fees, pool, landscaping out of pocket for on average 500-600 a month with about 4K per year or so to cover gaps in rent and or resigns, etc.
We thought this was going to be the forever home.
Is it best to give this a shot and pay out of pocket a few years to rent (est 10k per year) or sell it and only get back at best my down payment of 50k?
Properties are moving up in value here about 2% per year.
I paid 650 for it, with a 50k down payment and have put in 50k in new floors, pool deck, A/C, heater, shutter, etc. At best, I could sell it for probably 700 in the Spring, with a couple months on the market.
Thanks for any input.