Another ‘Rent or Sell?’!!!!! Yay!
Here’s the deal:
-Girlfriend and I bought house Jan 2013 intending to stay in the area (San Diego)
-Girlfriend recently got a sweeeeet job offer in LA, so we’re gonna move
-House has gained much value
-We’re leaning towards selling, as we’re not super enthused to be long distance landlords, but were hoping for some opinions on the matter, because ya’ll here are very smart
-We intend to rent, not buy, in LA
Numbers:
*Purchase Price: 200k
*Current value: 300-350k (estimate based on appraisal from ~6 months ago, Zillow, and what we’ve seen selling in the neighborhood)
*Currently owe: 128k
*Mortgage: $1500 (including escrow for taxes and insurance), and is 15 year @ 3%
*Rental value: $1500-1800 (hard to tell, not many comparable houses are listed for rent in our neighborhood)
I'm informed that it is Easter today...so, Happy Easter!!!