my wife, toddler and myself recently moved out of our home that we owned for about five years now since the end of COVID. We moved to an area much closer to family and are renting out a home as the area is significantly more expensive than where our house is and it was the quickest path to get into before growing our family further. the idea was originally that we would rent out our current home and then eventually purchase in the new area after building up some money, ultimately having to sell our home for the down payment.
Right now it looks like we could make about 500-600 dollars of profit per month against the mortgage (we got around 3.5 percent) which would go towards the new home rental if we rented out our home. But the market has been slow and a part of me wonders if it’s worth the hassle to rent it out, even if we intend to use a property management company, if we ultimately intend to sell it within a few years anyway and purchase in the new area. We do have a fair amount of equity in the home we own and the home was recently remodeled. So I do worry about the quality being maintained after renting.
Was wondering what everyone thinks about this. Note this is all still new to me. The state is California
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source https://www.reddit.com/r/RealEstate/comments/1uwodc0/looking_for_some_perspective_rent_vs_sell/
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