Sell Current Residence or Rent it? - Posted by Scrum

import · April 21, 2018, 1:59pm

Posted by Rob MacFarland on November 22, 2000 at 10:51:59:

I am in the same boat … current town home has appreciated considerably in the past few years of ownership. However, being in the military it is time to move again. Sell or Rent? With property manager costs, I’ll just break even … for now. Thinking that rents and value should increase and that only some expenses (taxes) will increase, I have decided to rent for a while and see how it goes. Since I have lived in the home for 2 years I will have another three years before I’d get hit with any capital gains on the sale … I also believe that “holding” real estate makes money … only selling if you have to.
my 2 cents.
Maj Mac

import · April 21, 2018, 6:59pm

Posted by Scrum on November 21, 2000 at 20:43:59:

I am purchasing a property on 10 acres of ocean front that is a steal and has great future potential. Closing date January 31.

I currently live in a Condo that I’ll make about 20-30K if I sell. If I rent it out, I’ll likely just break even on money from the rental or perhaps be up $100/month.

Problem: I only have till the end of January to sell or rent my condo. This is when my other deal closes.

Questions:
Which is best, sell or rent my condo?
How soon should I start looking to rent if I am intent on testing the buying market?

ANy suggestions or options welcomed.