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Keep or sell townhouse in Florida?


Hi everyone!

We bought a townhouse in Florida (Zip: 33436) in Feb. 2006 for $290,000. Our mortgage is $230,000 @5.75 30 years.
We will be relocating to North Carolina in 3 months.
Right now the selling prices in our community are between $210,000 and $230,000 for comparable townhomes.
That would mean if we sell we'd make big times loss!
So we thought about renting out for the next couple of years.
We could probably get like $1,250 to $1,500 if we rent it. Maintaining the townhouse is about $2,000 a month, that means we'd have to throw money in every month.
Our incomes are decent so we would be able to afford to maintain the home in Florida and to buy in North Carolina.

So what should we do? Take the hit now from the home in Florida. Or Keep the Florida home, put money in it and keep as longterm investment.

All answers and opinions are appreciated.

Thank you.

We have family in close to the house who could deal with renters.

I say just get rid of it. You will take a loss now or over the 2 yr span. Just think $2000x2 yrs?I know you will be renting it ,but ditch it ,renting is a huge PAIN!

Depending on where in FL you might have a very difficult time selling. I have to agree with the poster who said you need to consider the carrying cost vs. selling for a loss. $48K over 2 years is a lot of money.

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