Sell or Rent

[Chad Roberts]

Hi All - I bought a primary home in 2018 @ 2.75% for 650k and have ~450k remaining on the mortgage. I have my property listed for rent for $8500 and will likely rent between 7k-8K (similar homes rent for this amount). A potential renter just offered to buy my home off market for $1.1M, all contingencies waived.

Also, I'm in FL where climate change is a consideration of mine for long term stability of the market, as I've seen flooding and increases in insurance costs.

My ultimate goal is FIRE and I'm planning on moving to a lower cost of living area to increase my savings rate (Midwest, Portugal, AZ).

Recap:

Sell: 1.1M ( ~$500k Profit)

Hold: Rent for $7500