Built my forever home - now I might need to move!

[Jeremy Segermeister]

Hi everyone,

I spent 2.5 years building what we thought was our forever home in the Bay Area. We did things that would not make sense if I were building it as an investment property. Due to some life changes, we are contemplating a move cross country to Florida in order to be closer to family.

If we move, I am not sure if I want to rent the house or sell it. Hoping to get your advice here or perhaps provide some creative ideas. As I get closer to a decision I know I need to meet with some local agents to refine these numbers a bit.

Reasons to Sell: I have a significant amount of equity in the house that would allow me to pay for a new house in cash. Having no mortgage with a young family is very attractive mentally, even if it is not 100% the right financial decision. Rental income likely would not cover the mortgage + taxes in my area. I would then poor my future savings into investment properties. Also, I have an emotional attachment to the house that may add stress when seeing renters not take care of it the way I would.

Selling now would let me take advantage of the $500k in gains on my primary.

Reasons to rent: I have a ridiculously low 2.1% 30 year fixed mortgage with WF. I don't *need* the money to fund the downpayment for my new house.

I don't think my mortgage is assignable, but is there any way to bring on an "investor" into the house to get best of both worlds?

[Caleb Brown]

I would just sell it outright. Personally not having a mortgage when you move is valuable. Would give you a great base when you move.