homeforhealth
New member
I have a house I bought in St Petersburg FL in 2018 for 215k and refied during covid for 3% interest. Currently renting it out the last few years since I PCS’d making about $450 a month after everything. I currently owe 180k on the house and it’s valued around 380k.
I have 9 years left on AD but don’t plan to move back there/retire in florida. It’s also a hurricane area, flood zone, and the HOA there has been a pain/doesn’t like or want renters.
I started running the numbers and if I sold the house with the equity it has after selling fees I’d have around 165k that I could either put towards a house where I am now, or put it in the market- the calc is showing me that 165k in the market for 9 years at a market average of 12% would be roughly worth 457k
Vs my house equity plus profit/mortgage pay down over the next 9 years would be worth 364k
So, In 9 years I’m seeing the equity in the house invested being roughly worth 100k more (with some risk) but not having to deal with risk or hassle of renters, HOA, or maintenance.
(Capital gains tax would not apply since I’m AD and lived in it 2 of the last 15 years)
Thoughts?
I have 9 years left on AD but don’t plan to move back there/retire in florida. It’s also a hurricane area, flood zone, and the HOA there has been a pain/doesn’t like or want renters.
I started running the numbers and if I sold the house with the equity it has after selling fees I’d have around 165k that I could either put towards a house where I am now, or put it in the market- the calc is showing me that 165k in the market for 9 years at a market average of 12% would be roughly worth 457k
Vs my house equity plus profit/mortgage pay down over the next 9 years would be worth 364k
So, In 9 years I’m seeing the equity in the house invested being roughly worth 100k more (with some risk) but not having to deal with risk or hassle of renters, HOA, or maintenance.
(Capital gains tax would not apply since I’m AD and lived in it 2 of the last 15 years)
Thoughts?