- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Rent or Sell?
Posted on 8/26/13 at 11:20 am
Posted on 8/26/13 at 11:20 am
FIL passed away recently and passed his house on to my wife. The house has been paid off for years. Its a nice house in good condition but if we sell it, it will need some basic remods. We considered selling our house and moving into it but the kids dont want to change schools and its not in the best of school zones. So, what is the best option here. Its in the 150 to 170 range, all brick 4 bed 2 bath. Its walking distance to a local university, so renting should not be an issue. But, renting to college kids, the upkeep will be an issue. What would you do?
2
Posted on 8/26/13 at 11:24 am to Vlad
What type of monthly rent would you get? If you can get more than $1500 I'd certainly rent. Less than $1000 I'd probably sell. Is the local university a place your kids may end up going?
Posted on 8/26/13 at 11:33 am to Vlad
I like the idea of renting also, but if not your thing its absolute sellers market right now. Also, could you put 20k into it and get 200k or more? Or 40k and get 250?
Posted on 8/26/13 at 11:36 am to C
I talked to a neighbor a few weeks back, he goes through a leasing agency that charges 350-400 per student. His house is 3 bed 2 bath. So, if that stands true, it would be 1400-1600 a month with %10 staying with agency. As for my kids going there, possibly. But, even if they do, our current house is only 15-20 min from campus.
Posted on 8/26/13 at 11:38 am to ItNeverRains
quote:
Also, could you put 20k into it and get 200k
At the very top end.
quote:
Or 40k and get 250
Nope
Posted on 8/26/13 at 11:55 am to Vlad
quote:
even if they do, our current house is only 15-20 min from campus.
True but it's a good opportunity for them to get away and show responsibility. They can get friends to rent out the other rooms and have them responsible using the rent to keep the home fixed up and pay the bills.
quote:
So, if that stands true, it would be 1400-1600 a month with %10 staying with agency
So if you can get that much, I'd certainly rent it. The 10% fee usually includes monthly management. You can cut that in half if you want to manage the property yourself. Again, another good opportunity for your kids to pay for their car insurance, etc.
Posted on 8/26/13 at 12:32 pm to C
quote:
You can cut that in half if you want to manage the property yourself.
True, thanks so much for the input.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News