Planning to move cross country from Wilmington NC to Portland OR. Purchased a townhome in June 2022 for $325,000 and have put in probably $60,000. Spoke with agents who think I can get $385-395,000. I still have $292,000 left on the loan. The reason I’m interested in selling rather than renting is due to increasing insurance, taxes, and HOA fees compounded with nuances about the place I learned after I purchased it and anxiety around insurance gaps with hurricanes x skylights. I would have to rent it at a deficit to get someone in here. My friends and family think I should keep it to build equity but I don’t think it will accrue at the rate they’re expecting due to being a condo. I did not plan on buying in Portland when I move and I believe I read somewhere that purchasing within 180 days of a sale helps with tax liability.
Should I sell or should I be considering something else? Would what I spent on improvements help me reduce the tax burden?
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source https://www.reddit.com/r/RealEstate/comments/1lyt3ql/should_i_sell_my_townhouse/
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