Hallo…
I’m stuck in a bit of a situation and could use some advice. I bought a new build almost 3 years ago, and while I do like the house, I’m just not happy. The problem is, I live states away from my family and hours away from my friends. It’s really lonely here, and I’m starting to feel like I need a change.
I can afford the house, but I’m barely saving anything each month, so staying here is starting to feel kind of pointless. The kicker is, I wouldn’t make much if I sold it right now. There are still homes being built around me for about what I paid, so I’d lose my closing costs (about $22k) and might even have to bring more money to the table.
My other option is to rent it out, but rental prices in the area are about $200 less than what I pay for my mortgage (PITI). And honestly, I’m not too excited about being a landlord, especially from far away. What if I can’t find tenants or the place sits empty? I’d still have to cover the costs, and it just sounds like a lot of stress.The thing is, I really want to be closer to my family and friends. If I sell the house and take the loss, I could save way more by moving in with family, travel a lot more (which I love), and maybe even save up enough to build my dream home in the future. Plus, I know my mental health would be way better if I moved.
Has anyone else been in a similar situation? Did you sell and take a hit or decide to rent it out? How did it turn out? I’d love to hear your stories, especially if it helped you move closer to loved ones or just feel happier
Awaiting response and assistance…
advice according to your unique situation.
from the sale to settle debt, put down a down payment on a new house, or cover other expenses?
Are you ready to handle property management, tenant conflicts, and maintenance difficulties as a landlord?
proceeds from the sale to settle debt, put down a down payment on a new house, or cover other expenses?
and vacancy rates, investigate the local rental market.