Sell or rent our home in San Diego
Hello all,
I've been following these discussions for months. So much great information here. I'm slowly learning and building the confidence to get started in real estate investing. As a military family 3 children, 2,4, 10 y/o (my wife retires in 2 years, and I'm already retired) we purchased our first home in 2016 with a VA loan for $545K. We were planning to hold on to it for another 2 years until she retires however she just received orders to transfer to Bethesda, MD by April 14th. We met with a good family friend who is a very successful realtor and recommended selling now in this market. She didn't have anything against renting out our unit but she's just not familiar with the whole RE investment side. We have approx $50K in debt between my wife and I and she is concerned about all the negative things of renting: squatters, hvac goes out, plumbing issues, appliances, etc. House was built in 2004 here in Chula Vista, CA. Most appliances are a few years old, (new stove as of Dec) We also owe aprox $18K on our solar system. PITI is approx $3200, HOA: $106.
From the research I've done, we could easily rent this for about $3300-3500. She said based on comps of our 4bd/3bath 1881 sq/ft home, we're looking at $610K-$635K. She speculated it could go towards the high end since there weren't many other homes on the market. Something in my gut says to hold and rent. But my wife isn't comfortable with gut feelings. What would you do in our shoes?
Jeff