Hello,
I am trying to determine if my wife and I should sell or rent our current house. I stumbled upon this forum while doing some internet research and it seems to be a great resource. Any feedback would be appreciated. Details below:
Market Value: $310,000 to $330,000
Original Purchase price: $270,000
Original Mortgage Amount: $100,000
Interest Rate: 3.375%
Mortgage Term: 15 years
Term remaining: 12 years
Amount remaining on mortgage: $59,000
Anticipated Rent: $2,000 per month
Principal and Interest: $708 per month
Taxes and Insurance: $314 per month
HOA costs: $500 per year
Deferred maintenance notes: We built the house in 2014, so it is in good condition. Just my wife and I, no pets or children.
Additional details: We will be moving about 2000 miles away in six months, and will live there for three years. We intend to rent there. There is a small chance we could return to this house in three years, which would be great. We love the home, but it's a slim chance. The town itself is growing with a good local economy. It is a military town, so there's always an influx of new people and the house should be easy to find renters.
Any feedback would be great. We are both first-time home sellers/renters. Thank you!
-Brian