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Bought house with 2.5% rate, sell or rent out??

Rent or Sell?

I live in Raleigh, NC. I have a furnished townhouse that i’ve been renting out for $3,000/months including utilities. I purchased the house 3 years ago for 300K with interest of 2.5%. My mortgage is about $1,600/ month and HOA is $192/month. With everything going up such as property tax, utilities, HOA, Wifi internet, it would he hard to find a tenant who will pay $2,500-$3,000 with utilities for rent. My current tenant will leave in 2 months due to decline in health, she is moving back to her parents. I am wondering what I should do with the property after she leaves. My husband and I live in his townhouse now, but our goal is to save up to buy our “forever home” in 2-3 years or when the time is right. I have 3 options, please suggest what you would do. Thank you.

  1. sell the property? I am worried the market will crash soon and my house won’t be worth as much if i don’t sell now. The house is only 3 years old so selling now will be more appealing for buyers because it is almost new. If i sell, i think it will probably be worth $400K. So, i’d probably take away about $75K give or take. I want to put the gain in a high yield savings account until we are ready our forever house.

  2. Continue doing furnished renting via Furnished Finder? It’s just a little bit of a hassle because it’s usually 3 months or less so i’d have to find new tenants often. I started with furnished for travel nurses during covid b/c I used to be a travel nurse myself and invested in getting property furnished. I’d have to put all the furniture into storage or sell it if i take the unfinished route.

  3. Go through a property manager and do unfurnished long term rental? Rent until Husband and I are ready to buy a “forever home” and sell the rental. Less hassle with finding tenant but i’d have to take a $$ cut for the property manager. Rent is going around 2k-2.2k around my area.

Thanks

submitted by /u/maiitaii85
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source https://www.reddit.com/r/RealEstate/comments/1eybkwp/bought_house_with_25_rate_sell_or_rent_out/
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