I currently have a house across from Georgesville Square. I am looking at a bigger house in Canal Winchester and might put an offer on it this coming weekend.
Should I sell my current house or rent it out? If I sell it, I am going to take at least a $20,000 loss on it, possibly even $30,000. And it could take MONTHS to sell it. I don't want to pay 2 mortgages for 6 months or however long it takes to sell it.
If I rent it out, I have to find someone who is going to take care of it. Plus, I'm not sure how much to charge for rent. It's a Dominion, 4 bedroom, 2 1/2 bath, full basement, dining room, living room, big kitchen, attached 2 car garage. Not counting the basement or garage, it's a little over 1,600 sq ft.
I just don't know what to do. So I'm asking for your opinions and advice. What do you think I should do; sell or rent it out? If you think I should rent it, how much should I ask?
Thanks in advance,
Mike