If you took a position abroad would you rent your house?

[City Love]

I would sell. You won't have to pay taxes on the sale and it's one less thing to worry about. Having rental property can sometimes be fairly easy with good tenants and a good home, and other times it can be a nightmare with bad tenants and constant repairs. It's best that you avoid it if you will be overseas. What if you have to evict? What if there's a major problem and you need to actually see it to make a decision?

[chicagomama]

I am so glad I asked! I would have guessed the complete opposite- I would have thought that in Houston, with so many int'l transplants, it would be easy to find a nice family to rent it temporarily. Wow. I am so glad everyone is showing me another perspective!!!! Thank you!!! I need to show this to my husband now....

[testmo]

if you live in an area that you are likely to get "good renters" i.e. close proximity to med center, galleria, downtown, and the home is nice enough/in a nice enough area to have a higher rent to draw in professionals you can do well in renting. my family still owns our old home in VA after 20 years of not living in the state. only people who ever rented were pentagon families because of the proximity. they aren't the type to trash a place. if you have connections like that (military to military or doctor to med students) it can be a sweet deal.

if you are likely to draw in a renter for under $1200 a month and only signing 1yr - 3 yr leases you'll probably end up losing money

[HookTheBrotherUp]

Originally Posted by chicagomama

I am so glad I asked! I would have guessed the complete opposite- I would have thought that in Houston, with so many int'l transplants, it would be easy to find a nice family to rent it temporarily. Wow. I am so glad everyone is showing me another perspective!!!! Thank you!!! I need to show this to my husband now....

How much you like Houston, if you have family here, and how much you owe on the house.

We were in a similar situation several years ago. We decided that it would be best to keep the house, find someone to trust to oversee the house, but we had less than 4 years on the mortgage. Friends and family were here in Houston. Not having to buy a new house again was the goal.

Debt free living gives you piece of mind. A couple of friends of ours did the opposite and the results weren't so great I don't think. One came back, had lots of money and purchased a new home in Seven Meadows only to have sold it at a huge loss a couple of years later after they realized they did not need such a big house, and the taxes, fees, etc. were eating a huge piece of their income. Ours is still in the bank, and our home is ours.

[EasilyAmused]

The only way I would rent out a home is if it's in a major appreciation area of the city, and if it wasn't completely fine tuned with high end items.

If the house was in an MPC I would have no problems selling it. It's only going to age and depreciate against all the new builds.

[tstone]

Really depends on the area. Out here the rents are a couple hundred higher than a mortgage payment, usually attract professional tenants who take care of the houses, just have lots and lots of junk they spent their income on instead of a house down payment. Not sure if the OP's area is the same way. I'd find renters if I planned on coming back. You can always re-paint, re-carpet and re-place toilets. If your position abroad landed you a bunch of extra money and the neighbors are no longer there, you can always prep to sell or continue renting out.

[cheryjohns]

A whole lot of factors.

Are you coming back herer after the contract?

If so, do you love your house?

What is the rental amount in the neighborhood? The higher, the better.

Without knowing the subdivision and the other answers, It is hard to tell you.