Author Topic: Sell rental to pay off primary?  (Read 952 times)


  • 5 O'Clock Shadow
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  • Posts: 5
Sell rental to pay off primary?
« on: February 26, 2016, 04:04:04 PM »
We have a condo in Seattle (Beacon Hill) that we've been renting for 3 years, and was bought in 2007 at the height of everything.  Rent covers mortgage and HOA, straight.

Purchase price: 279k, put down 100k

We bought another house and decided to rent out the condo since the market was so bad for selling.

Today, the market has recovered, and we are thinking about selling.  Even with capital gains and selling fees, I am hoping to at least recoup the 100k I originally invested, maybe more.

The plan would then be to invest the 100k into our current house, shrinking both our payment each month, and shaving 15-ish years off our mortgage.

Pros:  pay off current mortgage, less stress, any future assessment would wipe out our cash savings
Cons: Not having rental income in retirement, and condo could further increase in value, losing money cashing out now

We are toying with the idea, me especially, since I could potentially stay-at-home for a few years with kids, since house payments would be so much less.


  • 5 O'Clock Shadow
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  • Posts: 26
Re: Sell rental to pay off primary?
« Reply #1 on: February 26, 2016, 06:40:37 PM »
Hmm...that's a tough one since you are only breaking even on the rent.  you think you are in your forever home, then I would say getting it paid off faster and having the freedom to stay home (if you want) would outweigh having a rental property that isn't really generating income but could be a significant liability if there is an assessment.  What is the most you think you'd be making in rent on the place (after expenses) once you retire?