To Sell or Rent Ocean Front Condo

[Amy Muir]

We purchased an ocean front 4 bed 4 bath condo on the Space Coast of Florida 4 years ago for $620,000. Our interest rate is 2.8% putting our mortgage at only $1,880. HOA dues are $1100/mo but expecting them to increase to about $1500/mo by the end of the year. I'm debating selling or renting. Would love all your thoughts! We had it professionally decorated and will be leaving it furnished as an option. The agent we are working with would like to list it at $1,300,000 OR I think we could rent it out for $5000-$6000/mo. Would you sell it or rent it out?

*We are married so $500,000 tax free.

*We also own other long term and short term rentals in the area.

*We purchased another home a few miles away from the condo. 

[Basit Siddiqi]

The value of $500,000 tax free is about $75,000 if you are in the 15% LTCG tax rate.
That is a large tax burden that you can never have to think about ever again.