Should I rent or sell my townhouse ( Blue Bell, PA )?
Hi everyone, my problem is the following. I own a townhouse in Blue Bell, PA. It’s a 2 bedroom 1 bath and in very nice/updated condition. The scenario my fiancee and I keep thinking back and forth is if we decide to rent our place and get a smaller house, what if we can’t find renters and we are forced to sell our townhouse. We will feel unhappy with the smaller house we bought because we “under bought” due to wanting to keep our townhouse. Of course if we sell our house we can afford something nicer and bigger but that scenario of under buying is what’s dividing us in one way or another. And of course as well, if we find renters and find a small place we like, that would be the perfect scenario. After real estate fees of selling our place, we would only net $10,000 as of today BUT if I did wait a couple of years I would net A LOT more than that since our area is very nice. I wanted to jump on the mortgage band wagon and get a single family home before the market goes up. thank you
My personal opinion is, you should rent it now, go for a smaller home & sell this one when the housing prize goes up.You may end up buying a smaller home but it will be a smart financial move. But also see that you have enough reserves to be able to pay the mortgage if you do not get renters immediately. Also do a research on the rental market in your area before making this decision.
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