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Updated about 8 years ago on . Most recent reply
Keeping a older home in Los Gatos
Hi: Currently I am considering whether or not to keep or sell my older home in the LG Mountains. It was a cabin built in 1936. I live in the property & have put money into the property such as double pane windows, new appliances, paint etc. but it is still very old and will need upcoming maintenance (roof, central heat, electrical, earthquake work, etc) but I am considering selling. Is now a good time to sell, or thoughts on holding and turning it into a rental property for a few more years and enduring the upkeep costs? Thanks to all! Gaylene
Most Popular Reply
Hey @Gayle Eisner
I would take @Lance Hulsey up on his offer. Do an analysis to see if selling or renting is best for you. If you could keep it as a rental for a couple of years, then sell, you'd be able to take advantage of a 1031 exchange.
Feel free to reach out to this forum for more guidance if necessary.
Best of luck!