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:
* ______________
May 27, 2011 · Expatriator
The only reason to sell would be because you want the money to invest in something else or think the market is well timed. It doesn't sound like either of those are true.