Before posting a new thread, I tried searching for earlier ones that might specifically address the dilemma DW & I are grappling with - should we sell our house, or rent it out?
Since our RE almost two years ago, DW & I have pursued a slow-travel lifestyle in various overseas locales with occasional brief visits home to see family & friends. We love this new lifestyle and plan to continue doing so for as long as we are able.
The dilemma we face is what our best move would be in terms of our home that we've lived in for almost 25 years and own free and clear. The house is in great shape - a new roof 6 years ago, new HVAC and rooftop PV solar that generates a surplus of electricity. It is in a desirable neighborhood w/ lots of amenities in close proximity (including spring training MLB). During our travels, we've had great luck with a couple who have house sat for us. The downside of this arrangement is that we continue to incur all of the expenses of home ownership.
We've put down deep roots in the area. Should we decide to sell, friends and family have generously offered us a place to stay during our brief visits home.
OTH, renting our home affords us the opportunity to hold on to an asset in a desirable area. Taxes are relatively low. It is a single story, ranch style home which would make it ideal for us to age in place if and when the time comes. We really don't need the rental income for our retirement expenses as pensions and SWR from IRA's meet our needs.
Here is an article in this morning's AZ Republic on owning rentals as an investment that prompted more thought and discussion for DW & I.
https://www.azcentral.com/story/mon...-great-new-investment-stock-market/609159002/
The hesitation we have about becoming landlords involves the responsibilities/headaches of being absent ones and having to rely on a property management firm. It would be interesting to hear from members who have had experience with property management firms. The good and the bad.
Thanks!
Since our RE almost two years ago, DW & I have pursued a slow-travel lifestyle in various overseas locales with occasional brief visits home to see family & friends. We love this new lifestyle and plan to continue doing so for as long as we are able.
The dilemma we face is what our best move would be in terms of our home that we've lived in for almost 25 years and own free and clear. The house is in great shape - a new roof 6 years ago, new HVAC and rooftop PV solar that generates a surplus of electricity. It is in a desirable neighborhood w/ lots of amenities in close proximity (including spring training MLB). During our travels, we've had great luck with a couple who have house sat for us. The downside of this arrangement is that we continue to incur all of the expenses of home ownership.
We've put down deep roots in the area. Should we decide to sell, friends and family have generously offered us a place to stay during our brief visits home.
OTH, renting our home affords us the opportunity to hold on to an asset in a desirable area. Taxes are relatively low. It is a single story, ranch style home which would make it ideal for us to age in place if and when the time comes. We really don't need the rental income for our retirement expenses as pensions and SWR from IRA's meet our needs.
Here is an article in this morning's AZ Republic on owning rentals as an investment that prompted more thought and discussion for DW & I.
https://www.azcentral.com/story/mon...-great-new-investment-stock-market/609159002/
The hesitation we have about becoming landlords involves the responsibilities/headaches of being absent ones and having to rely on a property management firm. It would be interesting to hear from members who have had experience with property management firms. The good and the bad.
Thanks!