So, my wife and I bought a house in Apex, NC in 2017 for 228k. At the time, we had no kids. Its 1300 sqfr. We moved out about six months ago to buy a larger house to support a larger family, in Raleigh NC. Purchase price was 571k at 6.75%
We have one daughter, and found out we were present with a second. So we started to look at larger homes.
Im now renting the house for $2,050. Lease ends August 2026. My mortgage is $1,392 at 2.99%. Im making $658 in cash flow on it. I use that to subsidize my current mortgage of $3800.
We have 176k remaining on the mortgage and could easily sell it for 430k.
Im just questioning if I should keep it, or sell it. I would make well over 200k even after closing costs, seller fees, etc.
Posted by flawlis
1 Comment
Sell it before you lose your capital gains exemption. Verify you still qualify for it before deciding. If you will still qualify for it in Aug 2026, I would sell it unless the market collapses and your equity evaporates.