Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago on . Most recent reply

Account Closed
  • New to Real Estate
0
Votes |
3
Posts

Selling vs renting

Account Closed
  • New to Real Estate
Posted

I acknowledge that this question has surfaced multiple times on this forum, but given the current interest rates, there might be some variations in the situation.

Our intention is to acquire a new property for an upgrade. However, I am contemplating whether to retain our current 5-bedroom single-family house or to sell it. The existing house is under a 2.2% 15-year loan, with a monthly payment of 3K, inclusive of HOA, insurance, etc. Situated in Cary, NC, a highly sought-after real estate area, similar houses command rents in the 3K range. If sold, our house could fetch between 850-900K, resulting in a $450-500K equity. This equity could generate 20-25K in a high-yield savings account annually, but the real estate market's potential appreciation exceeds that amount. Opting to rent the house presents the advantage of benefiting from appreciation, yet it also entails various challenges.

To all the experts here, let me know your opinion in this situation. thanks in advance.

Loading replies...