San Diego Housing Market News and Analysis
Should I sell or rent out house?
User Forum Topic
Submitted by bibsoconner on January 9, 2022 - 7:38am
Hi fellow Pigs. I'm a long time lurker and occasional poster.
I'm also extremely cheap so I'm hoping for some free marital advice today :)
My wife and I are both 50+ yrs. She loves her job (biotech) and can work remotely from anywhere. I'm starting to hate my career (software engineering) and would like to try something else*. Our one and only house in Pt. Loma is paid off (about 2.3 million according to Redfin/Zillow). We had this idea of moving to St. Thomas, USVI. My wife has family there. She'd continue with her existing job. I'd teach college, high school, or just be a bartender or bus boy. Those last two jobs do not scare me and actually sound sort of appealing right now. I'm somewhat in favor of selling the house. Renting it out from a distance could be a pain. My wife wants to rent it out in case we hate St. Thomas or want to return. She's convinced prices only go up even though she was certainly around in 2008-10. She's got some good points that we are locked into Property Taxes based on 1.4 million and generally, prices go up. As I said, I think renting will be a pain and don't see why we need to return to San Diego (or California) even if we get sick of St. Thomas. So the questions:
1. Would you sell or rent?
Incidentally, rental prices in St. Thomas are very roughly 3-4 thousand a month for something decent. Food prices are a LOT more expense. Gas, curiously is cheaper ($4/gallon).
Thanks for the ideas!
*I've suggested I just retire and my wife can support us both. That didn't go over well :). A future post will ask, "Do we have enough to retire before I drop dead from boredom and/or anxiety at work?".
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