I have been analyzing this scenario and not able to come to any conclusion. Current home in Greater Seattle or East Side with sub-3% rate and 1M + in equity before any agent fees. Other scenario is to rent it out for future appreciation only ( Rent vs Mortgage and Tax etc is wash-off maybe 100-200$ more) . Renting home in WA is getting risky these days with increasing squatting and eviction delay of 10+ months as court is backed up. Although if i get a good renter i can pay off mortgage and investment is more secure than stock market - thats where most of my sale proceeds will go. It’s easy to say it will keep increasing but stock market can also move down -10-20% easily in event of war . But yes should go up as well. Thats lot of cash to do any risky investment. Property price is expected to rise by 30% or more next 5 year Taxes: I get to take 500K deduction as primary home sale for next 3 years. After that everything will be taxable as long term capital tax. So i can maybe wait for another 2.5 year too ? WA doesn’t have taxes on property sale but state i am moving to has for future sale. Any thoughts specially if you have gone through similar situation ? I don’t need money to buy next home but it does need to be rented out or sold for low Debt to Income Ratio. #mortgage #housing #seattle #eastside #sanfrancisco #property-management
Rent it to me.
Going to squat ? Kidding. Sure DM if serious its available from End of July/1st August
You can combine 1031 and 121 but Google it figure out the steps necessary
Never sell real estate, ever. Renting in wa is not risky lol, especially as a smaller landlord. Get good tenants and you'll never have to evict. If you do it takes 21 days not 10 months lol.
Check recent news. The king county court has 10 months of eviction case pending . I am not kidding. 21 days no one will even open the file
And why never sell real estate?
sell
Rent
Reason?