Inputs on selling the house

Juniper shouldisel
Apr 24, 2018 17 Comments

I am planning to sell my house due to the following scenario:

1. No gc, just 140 approved, so no idea about being left jobless when the recession hits, considering that juniper is not doing that great as well. This is a huge factor because in the worst case scenario, i don't want to go back empty handed.

2. If i sell now, there is a 3 x return on my initial investment, this is a good sum, considering i want to go back to india.

3. Even if i decide to stay here, i can always buy back on a dip, whenever that would be, willing to stay rented till then. Am not sure if the prices would ever go down a lot, but i keep reading we are due for a correction :)

Woukd like some inputs, just to check that am within sanity, in deciding to sell my house.

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TOP 17 Comments
  • Facebook public
    Sell if you want but wouldn't bet on a dip.
    Apr 24, 2018 0
  • Yahoo eyxitsjtj
    Your 3x return might be subject to capital gains tax if the profit is over $500K for married and $250k if single. So consider that into your equation for going back to India.

    If you cannot get a good night sleep by owning the home then Sell it. No need to try and time the market.
    Apr 24, 2018 1
    • Juniper shouldisel
      OP
      Thanks, yeah the profit is below that.
      Apr 24, 2018
  • Marvell 59nowm123
    How much of a dip depends on the school scores (elem through high school) where your property is at. The higher the scores the more immune to economic fluctuations. Second would be proximity to jobs.
    Apr 24, 2018 4
    • Juniper shouldisel
      OP
      The elementary is pretty good, but the others are just okay. Proximity to jobs is not an issue, being in santa clara.
      Apr 24, 2018
    • Amazon / Eng ᕕ( ᐛ )ᕗ
      How much did you pay for your house in Santa Clara that even 3x that is still less than 500k?
      Apr 24, 2018
    • Fitbit melania
      3x on investment, not total cost?
      Apr 24, 2018
    • Juniper shouldisel
      OP
      3x return on my investment/down payment, the actual house price went up by 2x. 2013 to now.
      Apr 24, 2018
  • Microsoft GDOT03
    If you rent it out.... Does it cover your mortgage?
    Apr 24, 2018 2
    • Juniper shouldisel
      OP
      Yes, for now, can get a 1k additional amount after covering the mortgage
      Apr 24, 2018
    • Microsoft GDOT03
      Rent it out then and start making money. In time you will make even more money on it. If you never get the green card, you can get a friend or realtor to take care of it.
      Apr 24, 2018
  • New / Mgmt BigDildo
    Sell it. You can always rent if you change your mind. You save a boat load on taxes, $500K gains exemption. With the $$ that you invest, even in treasury bonds at 3%, you can have a nice nest egg compounding.
    Apr 24, 2018 0
  • New / Other
    KW Realtor

    New Other

    BIO
    Keller Williams Realtor
    KW Realtormore
    If you rent this out and monthly payments can cover the expenses and mortgage then I say rent it out. As long as you can ride the correction. And if there is a bigger correction plan for exit strategy there will be other options you can use.

    Renting it out will add more expenses other than mortgage, property tax, etc.. you will need to consider property management, vacancy rate, etc.. msg me and I’ll send you a spreadsheet that will calculate you projected income and list out possible expenses
    Apr 24, 2018 0
  • Apple Gg56fh
    Is this your primary home? Are you a single income or dual income household?
    Apr 24, 2018 1
    • Juniper shouldisel
      OP
      Yes, primary and single income.
      Apr 24, 2018
  • Apple Zing1
    May I ask the elementary school name? Just was wondering which elementary school is SC is good.
    Apr 24, 2018 1
    • Juniper shouldisel
      OP
      Don callejon, considering just the elementary portion of it, i have heard good reviews
      Apr 24, 2018

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