I hope this isn't a silly question. My wife and I live in a house that has become too large and our property taxes are getting very high.
We plan on moving to another state upon retirement in about 2.5 years. With the real estate market as it is we are considering
renting and selling the house.
Standard deduction for us is $12,600 (I think).
Our mortgage interest, property taxes etc. do not add up to $11,500. We have no state tax (TX.), no real out of pocket
medical bills and not much charitable donations.
Would it be a financial error to sell and rent? We would also eliminate homeowners insurance, water and sewer bills, lawn maint. etc.
We plan on moving to another state upon retirement in about 2.5 years. With the real estate market as it is we are considering
renting and selling the house.
Standard deduction for us is $12,600 (I think).
Our mortgage interest, property taxes etc. do not add up to $11,500. We have no state tax (TX.), no real out of pocket
medical bills and not much charitable donations.
Would it be a financial error to sell and rent? We would also eliminate homeowners insurance, water and sewer bills, lawn maint. etc.