Leaving area with no plans to return -- sell or rent house?

[Anonymous]

Anonymous wrote:Hi all, I've found this thread through the Google The thing is I'm in similar situation, except I live in Silicone Valley and I'm moving back to Europe and I don't need any downpayment to buy my next house. I bought my house 2 years ago and I can get ~$200k *profit* tax-free after all commissions if I sell it now, real estate appreciated 30-40% here for the last couple of years. I have 15y mortgage so the rental would be cash-negative, I'll have to add ~15k/year out of pocket to keep the house. On the other hand real estate here in Silicone Valley historically appreciates like craze, at least 5%/year for the last 20 years, and tenants are generally well-mannered engineers. I'm in doubts what to do.

In Silicon Valley, I would advise that you keep the house, especially if it is in a good public school district.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Hi all, I've found this thread through the Google The thing is I'm in similar situation, except I live in Silicone Valley and I'm moving back to Europe and I don't need any downpayment to buy my next house. I bought my house 2 years ago and I can get ~$200k *profit* tax-free after all commissions if I sell it now, real estate appreciated 30-40% here for the last couple of years. I have 15y mortgage so the rental would be cash-negative, I'll have to add ~15k/year out of pocket to keep the house. On the other hand real estate here in Silicone Valley historically appreciates like craze, at least 5%/year for the last 20 years, and tenants are generally well-mannered engineers. I'm in doubts what to do.

In Silicon Valley, I would advise that you keep the house, especially if it is in a good public school district.

Public schools are average in my area, not very good, but location is right in the middle of it all: Redwood City, CA.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hi all, I've found this thread through the Google The thing is I'm in similar situation, except I live in Silicone Valley and I'm moving back to Europe and I don't need any downpayment to buy my next house. I bought my house 2 years ago and I can get ~$200k *profit* tax-free after all commissions if I sell it now, real estate appreciated 30-40% here for the last couple of years. I have 15y mortgage so the rental would be cash-negative, I'll have to add ~15k/year out of pocket to keep the house. On the other hand real estate here in Silicone Valley historically appreciates like craze, at least 5%/year for the last 20 years, and tenants are generally well-mannered engineers. I'm in doubts what to do.

In Silicon Valley, I would advise that you keep the house, especially if it is in a good public school district.

Public schools are average in my area, not very good, but location is right in the middle of it all: Redwood City, CA.

Silicon Valley is very possibly in a massive tech bubble. The question is: do you know if it is or not? B/c the value of your house is directly tied to that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hi all, I've found this thread through the Google The thing is I'm in similar situation, except I live in Silicone Valley and I'm moving back to Europe and I don't need any downpayment to buy my next house. I bought my house 2 years ago and I can get ~$200k *profit* tax-free after all commissions if I sell it now, real estate appreciated 30-40% here for the last couple of years. I have 15y mortgage so the rental would be cash-negative, I'll have to add ~15k/year out of pocket to keep the house. On the other hand real estate here in Silicone Valley historically appreciates like craze, at least 5%/year for the last 20 years, and tenants are generally well-mannered engineers. I'm in doubts what to do.

In Silicon Valley, I would advise that you keep the house, especially if it is in a good public school district.

Public schools are average in my area, not very good, but location is right in the middle of it all: Redwood City, CA.

Silicon Valley is very possibly in a massive tech bubble. The question is: do you know if it is or not? B/c the value of your house is directly tied to that.

LOL, thank you. Yes, and the DC area is very possibly in a massive federal-spending bubble. The question is: do you know if it is or not? B/c the value of your house is directly tied to that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hi all, I've found this thread through the Google The thing is I'm in similar situation, except I live in Silicone Valley and I'm moving back to Europe and I don't need any downpayment to buy my next house. I bought my house 2 years ago and I can get ~$200k *profit* tax-free after all commissions if I sell it now, real estate appreciated 30-40% here for the last couple of years. I have 15y mortgage so the rental would be cash-negative, I'll have to add ~15k/year out of pocket to keep the house. On the other hand real estate here in Silicone Valley historically appreciates like craze, at least 5%/year for the last 20 years, and tenants are generally well-mannered engineers. I'm in doubts what to do.

In Silicon Valley, I would advise that you keep the house, especially if it is in a good public school district.

Public schools are average in my area, not very good, but location is right in the middle of it all: Redwood City, CA.

Silicon Valley is very possibly in a massive tech bubble. The question is: do you know if it is or not? B/c the value of your house is directly tied to that.

Bubble is only bubble when it pops No way to know beforehand, many young guys just of collage are making millions here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hi all, I've found this thread through the Google The thing is I'm in similar situation, except I live in Silicone Valley and I'm moving back to Europe and I don't need any downpayment to buy my next house. I bought my house 2 years ago and I can get ~$200k *profit* tax-free after all commissions if I sell it now, real estate appreciated 30-40% here for the last couple of years. I have 15y mortgage so the rental would be cash-negative, I'll have to add ~15k/year out of pocket to keep the house. On the other hand real estate here in Silicone Valley historically appreciates like craze, at least 5%/year for the last 20 years, and tenants are generally well-mannered engineers. I'm in doubts what to do.

In Silicon Valley, I would advise that you keep the house, especially if it is in a good public school district.

Public schools are average in my area, not very good, but location is right in the middle of it all: Redwood City, CA.

Silicon Valley is very possibly in a massive tech bubble. The question is: do you know if it is or not? B/c the value of your house is directly tied to that.

LOL, thank you. Yes, and the DC area is very possibly in a massive federal-spending bubble. The question is: do you know if it is or not? B/c the value of your house is directly tied to that.

Hah, I totally recognize and agree with that. That's why we bought a home we can afford on one half our income, and plan to live here for 15+ years comfortably. Honestly I do believe our housing value is a bubble, and are planning accordingly.

PP was moving away to *Europe* from California, so uber absentee landlord and tech bubble speculation tied into one.

[Anonymous]

Anonymous wrote:OP here. It's a SFH. That's the kicker here. 4 bd SFH 1 block from metro. There is definitely value here. I won't name which one.

And yes, 1 block from metro, it's mostly rentals anyway. Not like there is a great sense of community with stable owners.

I am undecided at this point. Not having the 200K as a downpayment on the next house, means that I have to buy less house than what I'd prefer. But willing to take that sacrifice if it means keeping the current as rental is long-term a better financial choice.

What's with the paranoia in this area? Why not name the metro station, people will be able to give better advice if you do