Would you sell high LTV townhouse to save $ ?

[Erin Ballard]

Feeling stuck. Would you sell or keep my townhouse?

Bought a 2bd/2ba townhouse in Seattle in August 2020 before finding bigger pockets now with a 95% LTV. (Yikes, I know.)

Should I be selling the townhouse to get out of my high mortgage payments in order to save $$ and find a property to house hack, Maybe in 1 yrs time?

Should I rent it out? The rental market, although strong in Seattle, would barely cover the mortgage payment.

If I sold, I would pay capital gains tax (under 2 yrs) however I likely would make very little profit on the sale.

Thank you in advance!

[Sherief Elbassuoni]

@Erin Ballard, instead of selling, have you talked to the lender if you can refinance?