Whether you choose to sell your house or rent it out till the market gets "better", it is tough to decide. If you are moving to a different city because of a job transfer, you might want to think about your comfort level of being far away from your old house being rented out. If you think you would be okay with it, hiring a property manager to handle the possible issues with a tenant could ease your mind. If you rent it out, you would have to think about for how long you would like to do that. The current tax laws say you have to live in it two of the last five years (as your primary residence) to have $250k (single) or $500k (married) excluded in your capital gain.
Maybe you might want to choose to sell now especially if the housing market where you are moving to is a buyers market. You might just get a nice balance (that what you give to your buyer is what you could potentially receive as a buyer also.) I welcome any other perspectives by phone or email at christina@christinaoneal.com.
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If you are thinking of buying or selling a house in Tracy, Ripon, Manteca, Mountain House, Stockton, Modesto, Lathrop or Salida, call me at 209-321-6122 or email christina@christinaoneal.com
DISCLAIMER - TERMS OF USE - PRIVACY POLICY - CONTACT POLICY - MARS DISCLOSURE
Disclaimer: The information provided on this website should not be constituted as legal advice. The content is intended to provide general information about the short sale and foreclosure processes, and should not be acted upon without the counsel of a qualified REALTOR®, attorney, and tax expert.
Federal Government Disclaimer (MARS):
1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us commission as agreed to in listing contract for our services.
2. Christina ONeal of Crown Key Realty is not associated with the government, and our service is not approved by the government or your lender; and
3. Even if you accept this offer and use our service, your lender may not agree to change your loan.
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