Reply to Should I sell my house or rent it out?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I no longer live in VA but still own my SFH (in Reston) worth about 650K. The house is fully paid off, but it needs some work. 
It’s been sitting for almost six months now since I moved away.  I thought I was going to sell, but I just can’t bring myself to list it. Now I’m considering renting it out. 
We’re not extremely wealthy and this house is about half of our total net worth. 
Should we sell this house or rent it out?  Were currently on the west coast and if we moved back to Reston it wouldn’t be for 15-20 years.  This decision has me paralyzed!  Please advise. [/quote]

I was a landlord for many years. It was OK when I lived near my rental property. [b]But after moving a mere 20 miles away, it turned into a huge hassle. [/b]

Sell NOW while you can take advantage of the right to protect your capital gains on the property from taxation. If you wait too long, you may face a hefty tax. This is what happened to me, and it was a foolish mistake.[/quote]

You never heard of rental maintenance companies? Yeah, OP will definitely need one, she won't even be driving distance away, so your scenario isn't even applicable in her situation.  She needs to price out how much rent she can get and how much maintenance company will take out to see how much profit she will net, and then decide if she can do better investing all the proceeds.  She also needs to price the repairs if she is saying the house needs work.  She should feel comfortable with however she invests so much of her NW.  Strangers advice is moot.  I am just pointing out that there is an easier option to rent out a place if you are willing to part with some of your proceeds.  Advice "you are moving too far away therefore you cannot rent it out" is rather strange. [/quote]

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