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Updated about 2 years ago,
Sell or Rent Primary Residence. What would you do and why?
Here is the scenario:
Personal residence built in 2017
Option 1:
Monthly Rent - $2,500 a month
Monthly Expenses (3.25% interest mortgage, taxes, insurance...self managed) - $868
Potential Cash flow - $1,632 or $19,584
Option 2:
Profit if sold- $250,000 (would not pay taxes on it, if sold)
Don't really have a plan with the $ if sold, except use some of it to pay down new home mortgage (4.25%)
I know there are more than a few posts like this so I apologize for a little redundancy. I would appreciate any tips, advice or insights to help me think through this. Thank you for your thoughts in advance!