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Updated over 2 years ago,
To Sell or Rent my house San Francisco Bay Area
Quick question BP folks,
My tenants lease is up as of November 1st, 2022 and I am contemplating selling the property: As of right now I could walk away 200kish tax free because I have lived in the property 2 out of the last 5 years. These are my accessory thoughts:
Is the market going to drop more and I lose more equity ? I dont have a crystal ball but to me this is possible, if rates keep going up very few people are going to even qualify to purchase homes in my area if prices were to stay high. I also see a flood of inventory coming on the market because everyone is trying to cashout and take advantage of there equity.
But on the flip side if people cant buy/ qualify for homes they have to rent thus flooding the rental market with more demand and jacking up market rents which is good for a landlords pocket.
Im leaning towards continuing to rent it out, mostly because if I sold I would want to redeploy that capital into some other investment as quick as possible. That other investment would almost certainly require a loan at a much higher interest rate than I currently have and that doesn't really sit well with me.
Any thoughts Id love to learn from other peoples perspectives and thoughts. ?