Web Producer · Hamden, CT · Member since 2015 · 51 posts · 6 votes
Hello all
I am a newbie and first time posting :-)
I am about to lose my job soon. I am thinking of renting out my condo and move my family into a smaller affordable apartment while looking for a new job. Is it a good idea? I have excellent credit score so I don't want this situation to jeopardize it. My husband still have a job but his salary will not be able to help out with the condo.
Principal and Interest: $1,068.97 Escrow (Tax & Insurance & PMI): $632.12 HOA: $200 / month
Rental in my area are going for between $1650 - $1700 for 2 beds with 1 and 1/2 bath
Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
11y
Unless you are very attached to it and foresee being able to move back into it fairly quickly I would sell it. It's going to cost you money every month. Typically places with HOA's don't make great rentals. If you can't afford to live there it's going to hurt having to spend money every month so someone else can.