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Updated about 2 years ago on . Most recent reply
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Sell Home or Keep as Rental??
Currently in North Novi / Walled Lake area
I'm likely moving in next 8-10 months
Personal home appreciated roughly 80-100k since purchased in 2017.
Current low interest rate.
Any general advice relative to this market? Should I sell my house and take the appreciation if I can still get it, or try to keep my house (3 BR, 1.5 bath) as rental property if I can swing it financially?
Any input appreciated. Curious to thoughts on trajectory of this area.
Most Popular Reply
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How much can you rent it for and what are your expenses? You can rent it for a couple of years and then sell it while still benefitting from it being your home for tax purposes. I'm not in the US, but I think you need to have lived in it the last 2 or 3 out of 5 years when you sell it to 'avoid' taxes on the appreciation.