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Updated over 3 years ago,
Is now the time to sell?
Trying to decide if now is the time to sell?
I currently own a single family house in Rochester, NH that is coming up on the end of its 12 month lease (end of November). I thought I was going to hold it for quite some time, but I am debating selling to take advantage of this market and the fact if I lease it out for 1 more year I will have to pay capital gains (I lived in it 2017-2019). I purchased at $290k and worth approx. $450-450k. It earns approx. $7000 in cash flow/yr. Built in 2006 and very low maintenance/Mgt requirements. If I sold I would use funds to (hopefully) purchase 6-10 unit in the $800k-1M price range. Big question is if appreciation will outweigh capital gains. Will appreciation continue in my market with lumber prices down and potential increased new construction? Thoughts?
Appreciate any insight!