Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 4 months ago, 07/11/2024

User Stats

2
Posts
0
Votes
Ashley Hadford
  • New to Real Estate
0
Votes |
2
Posts

Rent or sell my home? Help me decide

Ashley Hadford
  • New to Real Estate
Posted

Hi all. We bought a townhome in October of 2022, intending to live in it for 3 - 5 years, then rent it out. Unfortunately, we have to move a few hours away in September because of work. If we rent our house out, the tenant would likely cover our entire mortgage, but our HOA costs are high (they were raised a lot recently). So we are faced with a tough choice: do we rent our home out and lose about $200 per month because of high HOA costs, OR do we sell and hopefully break even? Our house has not appreciated much since October 2022, and homes are moving very slowly in our area with frequent price cuts. We'd likely lose our down payment of around $15K but break even in not owing any money.

Is it even worth considering renting at a potential loss of HOA, also knowing home repairs could be needed in the future? Or is it wise to hold onto the property, hoping for future appreciation? We are sure many of you have grappled with these questions and we would value your insights.

Thank you so much!!

Loading replies...