Rent or sell condo in Boston

[Steven Pereira]

Hello, I own a condo in Boston for over 5 years and now purchasing a SFH also in Boston. I bought the condo for $200k but it's now worth ~$500k in a rapidly gentrifying neighborhood near downtown. I pay around $1300/month total . The rent is typically $2500/month for similar units. I don't need the lump sum money from selling. Do I rent and wait to see how high it gets in the next ~20 years or rent?

[Ann Bellamy]

Personally, I would hang onto it.  You'll get lots of differences of opinions on this one, but think of old money families that never sell anything.  You always have the option of selling later.  If you decide to sell, consider a 1031 exchange.  You can defer taxes indefinitely.