Hey all.
I am going to be moving to Spain but working for a U.S. company. On my to-do list is to talk at least to an accountant and quite possibly a lawyer. But in the meantime, I’m wondering if anyone has any insight/experience regarding the following: Should I sell my condo (in the U.S.) or put it up for rent?
Reasons for putting it up for rent rather than selling it:
* Home prices have dropped, and if I wait maybe they’ll go back up.
* Rents locally are pretty high and the income should not only cover my mortgage and taxes, but also give me some funds which will partially cover my rent of a flat in Spain.
* I can contract with a property management company so that I don’t have to deal with being a landlord overseas.
* On the (extremely unlikely) chance that I decide I wish to come back, I still have my home.
Reasons for selling it and walking away:
* ______________ <—Your answer here. 😊
In other words, what legal/tax/whatever issues am I totally unaware of that should make me rethink my decision to keep my property?
