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Hey guys first post here but I'm hoping the community will help me weight out the pros and cons of my situation.



A few years ago I purchased my first home. Now my job is relocation me to a different part of Texas. I will be moving to a city with a lower cost of living as well as lower home prices.



My debacle is I own a home with 200k in equity. So I find myself at a cross road. Do I sell and take the money and by a home that I can almost pay off and do a 15 year loan, or do I rent out the property. If I rent out the property I'd most likely refinance to get my pmi off and pull money for a down payment on a new home in about a years time. I'm torn and don't think either move is a bad one.

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If you refinance the home to be a rental, would the payment be low enough to provide a net monthly profit (after also accounting for taxes, maintenance and property management)?

If so, my personal choice would probably be to keep and rent it, if not the decision would be tougher but I might still consider it depending on the situation, there is after all nothing better than having someone else build up your equity for you.

If you do decide to keep it, work with a reputable property management company, it really is a valuable service.

As you consider it try to clear your head of any sentimental attachment you may have to the home, it is after all home and that can cloud your decision making if your not cognizant of any attachment.

R

Hi Arron,

I have a job, and I was in this circumstance two years ago that you are in today. I was really concerned about the prospect of selling my old house and purchasing a new one. However, one of my friends who works in real estate advised me to sell my old property and buy a new home at a cheap rate. Then I sold my previous property, and the house I bought was in poor condition, with a ruined roof, so I hired Sydney roofers to replace the roof on my new house, as well as restore it at a lower cost. I am now living in my new home and have not taken out any loans. I recommend that you employ this strategy.

J

Hello,

I had to go through the same situation 3 years ago,I was so
confused I couldn't understand anything.
These days I met a friend
of mine who works as a house repairman. he suggest me that"I sell
my house and buy another house in small town".I did same thing.
Then I talked to online consultants The Attic Doctors who build
house roofing.The Consultant was guide me very professionally and
resolved my all problems in few days.i recommend you must contact
them for any query.
A
Last edited by Amely

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