Renting house on the Hill

[Anonymous]

Anonymous wrote:It makes financial sense to do it yourself. Sure - it is way less expensive. But OP says she has kids and CH is, depending on time of day and close in CC, at least 35 min to CH each way. Personal preference- but I wouldn’t want to spend the time and think it is worth paying someone else to do so. Again, personal preference and it is an incurred cost that makes holding a property less financially palatable.

That's nothing. I've rented out a property in the DMV, and you aren't driving to it every day. Assuming the place isn't in terrible shape, you aren't even going to it every month.

[Anonymous]

Personal preference, again.

[Anonymous]

I would sell, in all likelihood, you are better off getting your equity out, putting your money in the market, and never thinking about it again.

It comes down to personal preference though: will you be bothered if you end up having a lot of minor repairs or a HVAC repair? Will you be bothered if you get complaints from your neighbors that your tenant isn't bringing their trash bins in on a timely basis?

The win for you would be you rent for a year or two, nothing goes wrong, then your tenant buys your home and you both save a lot of hassle and fees. That is a lot of ifs that I would not want to personally deal with.

[Anonymous]

Anonymous wrote:I would sell, in all likelihood, you are better off getting your equity out, putting your money in the market, and never thinking about it again.

It comes down to personal preference though: will you be bothered if you end up having a lot of minor repairs or a HVAC repair? Will you be bothered if you get complaints from your neighbors that your tenant isn't bringing their trash bins in on a timely basis?

The win for you would be you rent for a year or two, nothing goes wrong, then your tenant buys your home and you both save a lot of hassle and fees. That is a lot of ifs that I would not want to personally deal with.

Putting your money into the market is not "never thinking about it again". If true, then there would not be any people who lost their money in downturns or volatile environments.
People making crazy returns year after years just holding some digital investments isn't guaranteed to repeat itself in perpetuity.

[Anonymous]

OP here- I like the idea of having a paid off house in the future that me and my spouse or my kids could live in. It’s not paid off yet and won’t be for a long time but that is something tangible to leave our kids. We could probably make more in the market but the house is tangible. It’s also probably too emotional- we love this house and it’s where we brought three kids home from the hospital. It’s our first home as a family. That’s definitely clouding things.

[Anonymous]

Can you see yourselves moving back one day? We kept our house on the Hill with the idea that we'd move back as empty nesters... So much more to walk to and do; much more appealing in semi-retirement. Plus it would be paid off and you could renovate prior to moving back in.

[Anonymous]

Anonymous wrote:OP here- I like the idea of having a paid off house in the future that me and my spouse or my kids could live in. It’s not paid off yet and won’t be for a long time but that is something tangible to leave our kids. We could probably make more in the market but the house is tangible. It’s also probably too emotional- we love this house and it’s where we brought three kids home from the hospital. It’s our first home as a family. That’s definitely clouding things.

If you believe the market will provide decent returns, then sell and set up a separate investment account for that money. You can then buy your kids (though I gather only one kid will get it) a house at the time in the future when they want one. Again…not sure how this will work unless you buy a house they all get to use.