For Sale or For Rent
We own a home in Madison. We’re moving to Albany.
We built the house. And by that, I mean we physically built it, with our hands, and the hands of our friends and family.
I’m having a little trouble letting go, wanting to put it on the market. When I spoke to my boss (and I work for a Property Management company right now), he suggested renting it.
I’ve done some calculations, and I could probably clear around 6% as a cap rate. But, do we really want to have random renters living in our house? I was a renter at one point, and my opinion of them is that they don’t care at all about the place they live. Wear and tear is excessive. Things get broken or go bad that wouldn’t normally.
It’s a tough choice. Coupled with the complete uncertainty I feel every time I think about buying a new house, and even temporarily having to pay for 2 mortgages, I’m not sure renting is the best idea either.
Regardless of which direction we go, packing continues. We keep looking at properties online. I’ve spent hours scouring job listings for that perfect entry level architecture job for DW. Hopefully we can find both before the end of the month.