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Updated over 4 years ago,
Should I sell or rent my house?
I moved to South Georgia last year for my job. It all happened within a month and I purchased a 4 bed 3 bath house with a big yard in a good neighborhood for $177,000. I pay a monthly mortgage of $1,070 on my house.
There have been some changes in my job and I am likely moving back home (Lexington, KY) in the next 3-months. That puts the ownership of my house to 15-months.
I'm trying to decide if I should sell or rent my current house (I plan on renting a place in Lexington for a year while I can get settled and make a smart decision on buying again). I am planning on reaching out to some investors in the area to se what I could rent the houes for in this area. I would expect that nothing would cashflow that great, but maybe well enough I could just hold on to the house for a few years and sell it for a slight gain later.
Or I could try to sell it right now, but I'm not sure what I could get for it. I think I'd have to sell it for at least $195,000 to break even and I don't think there's any chance of that happening.
Does anyone have any advice? I did not plan on moving so quickly, but am trying to make the best of a tough situation.