Should I sell my house... or rent it out?

I’ll try to keep this short. I bought my small 3 bed 1 bath house for $69k back in 2022. I got a 30-year mortgage at 3.75%, and I’ve only paid the minimum, so I owe roughly $67k. The thing is, I’m military and will be going overseas for at least three years, and I’m not sure if I will even return here. We’ve done a lot to the house, like a new roof, pest control, insulation, water filtration on the kitchen sink, and a backyard patio and shed. Zillow estimates it at $97k, which I assume doesn’t account for all the improvements we made. Should I keep it and rent it out, or just sell it? I have someone interested in renting for $850-900/month, while my mortgage is about $500. I really don’t know what to do.

Renting it out sounds like a solid plan, especially since you have someone interested already. That way, you can still own the property and have income while you’re away.

Definitely consider renting. You’ll have someone paying down your mortgage while keeping the asset. Plus, if you decide to come back, it’ll still be yours.

Selling could be an option too, especially if you think the market will go down. But if you can manage renting, it might be worth it to keep the property.

Also, make sure to factor in property management costs if you decide to rent. It could eat into your profits a bit.

If you’re worried about managing it, maybe find a local property management company. They can handle everything for you while you’re away.