For many reasons (onerous mortgage, onerous HOA, small bathroom, bad parking, thin walls with neighboring unit, preference for renting) I hate the condo I purchased last summer. It was a mistake made without proper due diligence.
I’ve considered selling the condo this year at a loss, and have considered renting it out as well. The impediment is that it needs a new HVAC (wall units and baseboards do not suffice), which I’ve received estimates around 13k. This is for 4k worth of materials at most for a split system… truly egregious. I can’t do the work myself as a licensed and certified contractor is required per HOA.
I may be able to sell the condo without the new HVAC, but I can’t get away with renting it as is. What’s the best way to proceed? (If I sell should I sell myself, use an agent, or redfin?)
Condo: 320k value/46k equity
Net Monthly Income (post tax, max 401k & HSA): $3,800
Mortgage: $1,950
Checking: 17k
Tax Managed Investments (Backup Emergency fund source): ~200k