I have 65% equity in my current home, RENT or SELL?

[Jacob Lehner]

Hi all,

I currently have 65% equity on my current home, my wife and I are buying a new home (closing tomorrow actually) and haven't seen much traction on selling our current house, been on the market for 3wks now and no offers.  The house is in the Houston area 12min from downtown and homes are expensive to purchase, but the rent rates I'm seeing aren't near 1% purchase value, nearer 0.5% actually. 

Knowing that we are heavy on equity in the home, and have a (in todays numbers) great interest rate of 2.3% on the loan, what is the consensus on selling vs renting? 

(we are purchasing a new house regardless of what happens with this one.)

[Nathan Gesner]

Quote from @Jacob Lehner:

Crunch the numbers and determine if the home cashflows as a rental. If it does, and if you want to be a Landlord, then I recommend holding it. If it doesn't cashflow, sell it and invest in something that does.

It's impossible to tell you which way to go if we don't know your destination. I don't believe in selling real estate unless you can deploy the capital somewhere that moves you closer to your goal. You need to set a goal first.