Rent or Sell after Breakup

Homeseller Forum
1

Hey guys,

I’m when my girlfriend and I have split up due to financial issues where she wouldn’t pay rent, etc. I purchased my home in March for $364,000 as a new build, and I’m currently deciding whether to sell the property or rent it out.

Mortgage: $2500 + HOA
Potential Rent: $2350 (property management would take 10%)

I’m devastated by everything but not sure about my options as I want to move closer to my support system. If I were to sell the property, I might profit around $10K, but I know the market is tough right now. Any advice would be greatly appreciated as my previous partner has put me in a pickle.

Thank you :heart:

2

I’ve been told by multiple owners that unless it’s your job to manage multiple properties, it’s not worth it to rent out a single home. It can take up too much time.

3

What are your plans if your tenant moves in and trashes the place? Do you know your eviction laws?

4

So you’d be renting it at a loss? Sell it and move on with your life.

5

What’s wrong with renting at a loss? You’re still building equity while someone else pays part of your mortgage.

6

Staying in a bad investment during a downturn is a bad idea. Selling now might be better than waiting.

7

There are a lot of expenses involved with selling. It’s unlikely you’ll make any money. Can you live in it and get a roommate?

8

As it’s your house, consider renting it out to generate income, especially if you’re worried about losing money on a sale.

9

Since it’s your house, just keep living in it. You’re likely to lose a lot of money if you sell it so soon.