In this installment of UrbanTurf Reader Asks, a DC homeowner living in San Francisco inquires about the pros and cons of selling a property they own in DC.
In 2009, my husband and I bought a condo in Kalorama. Since then, we've moved to San Francisco, but have been holding on to our DC unit as a rental. The rent covers the mortgage, but doesn't bring in a positive cash flow.
We don't necessarily need the equity from selling the DC condo in order to buy a place in San Francisco, but are still weighing the pros and cons of selling. On one hand, there could be a benefit to holding onto the property for a few more years as it appreciates.
On the other, owning the condo takes up a certain amount of cognitive load, between managing tenants and dealing with various maintenance issues. Based on various DC market indicators, it also seems like a great time to sell right now.
I am curious to know what UrbanTurf readers think is the right decision. Are there any other factors that should tip our decision one way or the other?
This article originally published at http://dc.urbanturf.com/articles/blog/ut_reader_asks_i_live_in_sf._should_i_sell_my_condo_in_dc/7323
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