Hi! I purchased an almost 80 year old home here in Austin TX in the Highland neighborhood north of North Loop (that is north of Hyde Park).
The home originally was a 4-2, 1800 sq ft house and about 14.7K square feet lot. The house was purchased in October 2022 for $565K.
I did some internal remodeling and added 2 private bathrooms and converted part of the living room space into a 96 square feet room. I completed the first bathrooms with all permits approved. For the second remodeling campaign where I included both the 5th bedroom and bathroom in the same permit, I didn’t receive all the approvals because I added joint compound on the drywall screws before the inspectors could come and see the drywall pattern and make sure the right amount was used and the right distance. According to the city, if I wanted to get the permits approved, I needed to get an outside or independent engineer to approve that section.
I have done other remodeling such as adding lights on the sides of the house, adding lights throughout the entire crawlspace and attic, pier and beam foundation repairs, replacing exposed light wiring in the laundry room for metal conduit, replaced a ton of the cast iron drain plumbing for PVC, replaced the inside the house fan motor for the HVAC system and the condenser unit, added an exhaust fan that vents to the outside in the kitchen, drywall-ed over door that existed between 2 rooms.
I lease out all 5 bedrooms while living in a 96 square feet shed in the backyard without a bathroom. This lifestyle was okay since I was spending a ton of time abroad. I think I want to return to my home country after living in Austin TX for over a decade. The city is great, but as reach my mid 30s, I feel I want to be closer to family, and will be moving back in with my parents.
Every time I speak to a real estate agent about selling, they do not look excited and tell me to wait. I could keep renting out my house while being abroad, but I am concerned something will break while I am gone. Renting out all 5 bedrooms does not cover the monthly cost of the house since I only put 5 percent down when I made the purchase. I still owe about $509 in the loan.
After 4 years of owning, it would be nice if I can sell and walk free without owing anything. Any recommendations on what to do next?
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source https://www.reddit.com/r/RealEstate/comments/1wg4rm4/could_i_sell_54_house_on_guadalupe_st_in_this/
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