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Updated over 2 years ago on . Most recent reply

Sell Home or Keep as Rental??
Currently in North Novi / Walled Lake area
I'm likely moving in next 8-10 months
Personal home appreciated roughly 80-100k since purchased in 2017.
Current low interest rate.
Any general advice relative to this market? Should I sell my house and take the appreciation if I can still get it, or try to keep my house (3 BR, 1.5 bath) as rental property if I can swing it financially?
Any input appreciated. Curious to thoughts on trajectory of this area.
Most Popular Reply

How much can you rent it for and what are your expenses? You can rent it for a couple of years and then sell it while still benefitting from it being your home for tax purposes. I'm not in the US, but I think you need to have lived in it the last 2 or 3 out of 5 years when you sell it to 'avoid' taxes on the appreciation.