What would you do?

[Brandon Rizzo]

Hey BP Community, 

My wife and I bought at the peak of the housing boom in 2022 in Austin and likely overpaid, but it didn't bother us at the time as we really just wanted to win our first home after 10 previous offers not succeeding. Anyways, interest rate is decent but not under 5%. We'd really like to move back to downtown and our house is about 15 minutes away in a good neighborhood. We're considering renting it and paying that amount in rent downtown to equal the mortgage payment. This way we are still paying the same amount, but renting the house while we live downtown. We could sell and maybe take a loss or break even, based on other listings nearby. Although our home is renovated and was appraised much higher than our purchase price.

Any advice? What would you do? Sell, Rent, or is there another strategy worth looking into?