I don't think the housing market is going anywhere in Denver, there's so much business investment there. See if its a pain in the dick and if you hate it, then sell it. (ITT, rothwem discovers rich people exist outside of NYC and California)Īssuming it is though, if I were in the shoes of the OP, I'd rent it out for a couple years. Is that really a thing? I thought you could rent a Manhattan apartment with a view for that price. For one thing, I'm surprised that people actually pay $4000 per month for a rental property. It doesn't mean its actually good rental. I feel like this question is kinda funny, because when I look at those stats, would I spend $450k to get a house that worth $750k that brings in $4000 of rent per month at a 2.875% interest rate? FUCK YEAH I WOULD. Perhaps sitting on it until you know whether the move sticks is worth any risk that the Denver market might see prices come down some. For us, being FIREd gives us enormous flexibility which has also made it harder to let go of places because "I'm never coming back here" isn't as concrete as someone who relocates for a job. I know keep property until I'm damn sure I won't be going back there as long as it's not a financial burden to keep it. Sold a piece of land that I'll regret selling til the day I die. The Denver area has way more open space than cities on the East Coast but if you think it would be considerably difficult to buy that same house again in the event you don't want to stay where you're moving there is nothing wrong with holding on to it. If you are unsure whether the new location will stick and you can break even or cash flow the property for a year or two while you're settling in and ensuring it's a place you want to live, there's certainly something to be said for that. we have many friends in the area now but rarely see them, i bet we would see them more often if we come back to visit. In a big city its easy to get lost in the shuffle with constant driving and running around. We likely can work from home and if not other employers would let us, the new place is less expensive than our current place but with rates the payment would be more. the potential new place is also a city we know from our college days with lots of new amenities and good schools down the block. we are currently 12 and 14 hours a way from parents, the move would put us 3 and 2 hours away located in the middle/between them. I also like the idea of having a fall back plan if we miscalculated and hate the new - The big driver for moving is to be closer to our parents and have a better sense of community. i could see moving back here some day and or hanging on just for appreciation (south Denver area) i think it would be a great place to live forever - other than our family isnt close and that is becoming a priority as they age. Its an earlier 2000's build so has bigger lots, next to a trail and open space. I could see being a landlord where we rent out rooms at a certain price, there are several consulting and engineering office with in a few miles that would make it an interesting rental along with a light rail stop close We are considering that any proceeds from a sale would be tax I dont think i would buy this specific home to be a Green - the home is in a great location - in an area that will be built out with a lot of amenities and services with an even closer light rail stop. I need to investigate what property managers charge in my area Total Mortgage payment is $2740 including PITI & HOA (P&I is about $1930, of which the principal payment is ~$840 and climbing) Seems like selling is making the most Estimated price is ~$725k I will try to reply to all most questions/comments and check out that spread sheet
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