All Forum Posts by: Cody Faucher

My mortgage is $2055 a month with taxes and insurance escrowed in. The house is mostly up to date. The only other added expense we would have is about 3 acres of lawn care maintenance. I also mispoke previously, we have about $275,000 in equity in our house with roughly half of the mortgage paid off and our realtor believes our home has appreciated by $80,000.
We don’t have any immediate need to sell it for the money. 

I live in the outskirts of Mechanicsville, VA just outside of Richmond. My wife and I have lived in our current home for three years but are in the process of moving to Pennsylvania. Our real estate agent is saying that we can get $80,000 more than we paid for the home currently. We have an offer from a friend that would like to rent our home for $200 more than our mortgage. So far, it seems our home was a good investment after hearing that. Should we keep our home, rent it out and continue to build the equity? Do you think the housing market specially in this area, will continue to grow as it has?