To Sell or Not to Sell??

[Otis Baxter]

Good Afternoon Everyone,

My wife and I are in the process of building a new primary residence for our family. We are moved out and currently living in an RV until construction is finished.

I am wondering what we should do with our old home. We bought this house together over 5 years ago, and have a pretty strong emotional attachment to it. It is a 15 year fixed mortgage at 2.85% with a total mortgage payment (including tax and escrow) of approximately $815.00. We refinanced to the 15 year about 2 years ago. We currently owe roughly $94k and have 13.5 years left on the loan.

I believe I can rent the home out for $1000-$1100 per month or could sell it for $140k-$145k in todays market. Please note it will need a roof, windows, and A/C unit all within 10 years.

We currently own no rental properties

What would you do?