Corporate Relocation...Do I keep my house to rent or sell it?
So I'm looking to take a job that comes with a pretty kush relocation package. I'm torn on the idea of selling my house or holding it for a rental and appreciation in equity. Curious what this forum thinks.
Details below.
The House
- - I live in Austin, TX. A hot market. Home purchased 2016 for $545k w/ 20% down. Mortgage=$3k/mo, $386k remaining @ 3.25% (includes property taxes and property insurance.), also no HOA.
- - the home is in the NW austin area....Cedar park/Balcones/RoundRock/Leander area... Big plans for upcoming developments (Domain North) and employers (Apple Campus).
- - The home is a 4br/2ba with a great yard, 1/3 acre, in an all 10/10 school district (BVS) (elem, mid, high), backing up to a golf course, so it feels like a bigger space.
- - Zillow estimates currently @ $650k.
The Relo:
- - pays sellers closing costs, including the full 6% realtor fees if I sell my house.
- - pays the buyers closing costs, up to 2.5% if I buy a house at new location.
- - I have up to 1 year to utilize the benefits, so I could totally rent out my place and then sell next year.
So any input here? Capturing that 6% sellers fee seems HUGE, but I'm worried that if I ever do move back to this neighborhood, I would be priced out and unable to buy in. I think I could rent out my house pretty easily in the $3k/mo range. How do I help make this decision?
side note: the new location is Boise, so another hot RE market.