I am relocating to Houston next month for a new position with my employer. My current townhome has a 10 yr mortgage, which I would have 5 more years to pay on it. I am trying to decide if I should hold on to it for 5 years and try to rent it out, or just sell it. I live in IL in the Naperville district, so its a nice area. But I am worried about all of the new home constructions around me and since it is a buyer market now, will it be harder to rent out?I have never rented out before and do not know what to do. I have been approved for a townhome in TX based on keeping the 1st home and financially, I could pay for both, but was not sure if that is a wise move. Maybe renting in TX would be better. I would prefer to at least have some rent coming in for the IL home to pay part of the 1st mortgage if I should keep it. What do you think?
2006-11-05
01:16:33
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6 answers
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asked by
linnie20022000
3
in
Renting & Real Estate