FinanceHome Ownership
#RI-6a7aa80b·7 months ago·
4
“Rent or sell parents' old home”
What Actually Happened
We live in a 5-bedroom house with a 4% mortgage, paying $2,100/month. We want to move to another area, but buying a new home would cost $6,000/month. Selling our current home might lower our payment to $4,000/month, but we'd still have expenses. Renting it out for $4,500/month is an option.
What I wish I knew
"More about the local rental market and potential long-term expenses."
Advice to Someone Facing This Now
If I could tell you one thing
"Consider all financial implications before deciding to rent or sell a property."
Regret Index
5/10
Significant downsides.
Complicated feelings about the outcome.
Complicated feelings about the outcome.
Advice for Someone Facing This
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Finance Category
2,949
Finance decisions logged. Avg regret 4.9/10 across the category.
Same Outcome Band
15%
of Finance decisions land in the mixed band the same as this one.
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