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We have a 500k home and low mortgage Do we sell or rent?

We have a $500k home with a 2.75% mortgage. We don't like the neighborhood, though, and we want to move. Our family is growing and we prefer a family friendly area but it seems like a bad idea to sell when mortgage rates are so high. Should we try to rent?

Asked By Melanie | Irwin, PA | 36 views | Selling | 4 weeks ago

Answer(2)

Semi-Pro

Marty & Abby Champagne

RE/MAX Market Place

(33)

I would sell it. Reason I say that...if you do not like the neighborhood what if it gets worse? The value of your home could go down.

Novice

Kasha Kramer

LPT Realty

(43)

You can always try to rent first and if that does not work out you can still sell. The question that determines if it is a good idea to sell will depend on the current equity of your home, the more equity you have the more money you will have in your pocket after you sell that you can use towards the new home.

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