Hey forum, I have a family of 3 and potentially leaving TX for Europe (France) this summer. I have a house paid for with 11K$ of taxes that could net 1300-1500$/month (rent-property management-maintenance-taxes-etc) if rented. I could also sell into the market for say 500$-530K...My house is about 16% of Net worth. I plan to rent in france for a while until i find the right place (2-5 years probably). I have about 600K in other real estate investments as well in US (multifamily, hard loans, mobile homes, etc), rest is stock market in tax deferred and after tax accounts.
My Pros and cons of renting vs. selling
1) Pros Renting
- Cash flow positive
- favorable tax if i reside in emea
- continue long on real estate trends in US / TX
- Wil get taxed big time when I sell and cannot get 250/500K tax waive for primary home
- maintenance. In TX, lots of issues (tornadoes, wood house not as strong always need maintenance) and thus will be quite complicated to manage from EMEA ( i would dread having to talk to insurance company if something wrong with my roof/pool, etc)
- sell now and i get the cash and can try to deploy in other investments
How should I think through this decision?
Thanks for the pointers.