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Updated over 4 years ago,

User Stats

16
Posts
10
Votes
Brian Lewis
  • Investor
  • Northern Virginia
10
Votes |
16
Posts

Corporate Relocation - Keep Primary or Sell

Brian Lewis
  • Investor
  • Northern Virginia
Posted

Good Morning BP!,

I have a similar, but not so exact situation to a recent poster.  Recently accepted a relocation from my company & now faced with rent or sell decision.  I think I know the answer, but still want to get you guys' take.


The Facts:

2 year old home in a prime school zone in Northern Virginia (9/10 per Great Schools)

Purchase Price : $740k

Mortgage:$695k - $4.5k/mo

Zillow Sale Estimate:$770k

Zillow Rent Estimate: $2.8k/mo

Company would pay for PM, but no closing costs.  We will be moving into company furnished housing, so no primary mortgage payments if we sell.  Even though house is nearly new, the monthly deficit between assumed rent and mortgage doesn't seem wise based on possibility of a large repair or two.  I have heard a loose argument to eat the difference and be made whole come tax time.  because there were no details with that, seems iffy.

I'm open to any and all feedback.

Thank you!

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