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Updated over 5 years ago, 05/28/2019

User Stats

25
Posts
7
Votes
Lawrence Gillett
  • Rental Property Investor
  • Asheboro, NC
7
Votes |
25
Posts

Sell or rent our first home?

Lawrence Gillett
  • Rental Property Investor
  • Asheboro, NC
Posted

Hey guys, looking for some analysis here. Bought our first house with a VA loan 2015, no money down and we're PCSing (moving under military orders) this July to another state. Purchased the house for 153k its now worth 185k, I owe 137k on it right now, (appreciation and paydown). We listed the house for sale, but I'm having second thoughts. Our current PITI is 950$ a month, while rents in our neighborhood are 1300-1500$. I know insurance would go up and we have to account for management fees, but am I throwing away a good deal by selling or should I take the appreciation and run? There's no money down with the VA loan so the only money I have in this house is repairs I've done and loan pay down. If there are any other numbers I'm not providing let me know and I'll add to it.

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