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Old 09-14-2011, 07:24 AM
 
433 posts, read 1,931,115 times
Reputation: 281

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There is a small possibility that my husband might be transferred abroad for 3-4 years. In the Houston (specifically Sugar Land) area, it seems there are a lot of transient people who come and go. Would it be wiser to rent our house, or to sell it? What considerations do we need to take? I would love to talk to someone who has done this before....

If we sell it, I don't assume we would buy (this would be in either Dubai or Singapore). SO isn't there something with taxes on the money we earn from the house sale?

If we rent it out, I am imagining all of the extra expenses: pool service, lawn service, maintenance, etc. I have never been in this position and I am a little overwhelmed. Are there companies that take care of this? Are they cost-prohibitive? Not that we would want to make money in the deal, but coming out even would be important.
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Old 09-14-2011, 08:25 AM
 
Location: Pearland, TX
3,333 posts, read 9,178,876 times
Reputation: 2341
Oh, hell no! Even if you hired a management company (extra expense), your house would get trashed. Absentee landlord status is undesirable.

Been there....screw that!

Ronnie
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Old 09-14-2011, 08:38 AM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,742,914 times
Reputation: 4191
If the home is your primary residence I believe you can make up to 500k profit as a married couple on the sale and owe no taxes.
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Old 09-14-2011, 08:50 AM
 
Location: TX
2,019 posts, read 3,527,040 times
Reputation: 2185
If your husband's company will help you sell it or provide financial assistance with closing costs and realtor fees, I'd probably go that route. A property management company would take around 10% of your rent. You'd still be responsible for paying for repairs to your property. I believe the tenants are usually responsible for lawn maintenance, but I don't know about pool maintenance.
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Old 09-14-2011, 09:23 AM
fnh
 
2,888 posts, read 3,916,250 times
Reputation: 4220
Unless you really adore this house I would sell it. You won't owe any taxes on the first $500K profit as a married couple. A 3-4 year assignment is longer than most, and Houston is an easy (read relatively cheap) market to buy back into should you come back.
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Old 09-14-2011, 09:39 AM
 
Location: Houston and Old Katy
567 posts, read 1,623,384 times
Reputation: 412
I am in similar situation, and I am considering renting if/when I go somewhere. However, I have same fears as you about dealing with renters when I am abroad. My house could be a good rental property however as it's cheap enough so taxes are not that high.
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Old 09-14-2011, 09:45 AM
 
504 posts, read 1,151,200 times
Reputation: 467
We moved abroad for 3 years. We sold the house. We didn't know where we would end up or if we would come back to the US. It was one less liability for us to worry about while overseas.
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Old 09-14-2011, 10:31 AM
 
Location: Sugar Land
2,465 posts, read 5,795,900 times
Reputation: 2733
Sale, sale and never look back Trust me, I done it both ways and you don't want the problems. Let the husband company deal with the sale and the move. If you come back and when you come back, another house journey will start.
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Old 09-14-2011, 11:32 AM
 
Location: Spring
1,110 posts, read 2,587,786 times
Reputation: 461
I would sell if you have no intentions of coming back. Also sell if you can sell.

I had to lease out my home, because it's upside down and couldn't sell. However it's not a home we planned to live in for a long time. PIcking tenants is also key.
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Old 09-14-2011, 11:42 AM
 
Location: Austin, TX
4,760 posts, read 13,832,610 times
Reputation: 3280
I have friends in this situation and they have a trusted house sitter for the Houston house and all their living costs in the other country are paid by the company, I believe. If you want me to do so, I can ask her the reasoning for the choice of house sitter vs leasing out or selling.
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