Should I sell?

[Hannah Genton]

Hello everyone,

I'm just beginning my journey in real estate and seeking some strategic advice. In 2020, we acquired a single-family home in Salt Lake city at an incredibly low fixed interest rate. Currently, we rent out the property while residing abroad. However, our tenants plan to vacate this March and have expressed interest in purchasing the home.

I'm contemplating whether it's more advantageous to sell or retain this asset. Finding new tenants shouldn't pose a significant challenge, and I'm not under any time pressure.

Presently, I'm based in Costa Rica and have plans to acquire land and construct a primary residence here. Ideally, I'd like to secure the necessary funds without parting ways with the Utah property. I'm uncertain if this is a viable option. I'd greatly appreciate any guidance on whether it's prudent to sell the Utah property, or perhaps invest the proceeds in a higher-interest account for the next few years, or even retain it for the long-term in my portfolio.

I appreciate your wisdom and guidance!