Our rental property is on the market!
In addition to having 1450 square feet, including 3 bedrooms and 2.5 baths, this house holds some wonderful memories for me and Tal. Tal bought this house in January 2006 (a month before we started dating!). I moved into the house after we got married in 2007, and we lived there until we bought our current house in December 2010. After Savannah was born, we brought her home to this home. Savannah took her first steps in this house.
There are several reasons why Tal and I decided to sell our rental house. The neighborhood is declining. Crime is increasing. Property values are increasing very slowly.
However, the main reason is that our rental property is a money pit. Financial experts say that rental properties are excellent long-term investments. In our experience, however, it takes a lot of time, energy, and money to maintain two houses (including our primary residence).
For example, over the last 3 weeks, Tal and I have spent over $6,000 in repairs and carrying costs...which is more than the house will appreciate this year:
- A painting crew painted the interior, as well as the deck, front door, and mailbox post.
- A landscaping crew cut the grass, trimmed the bushes, spread mulch, and laid pine straw.
- A handyman repaired a leak above the master bathroom shower and painted that bathroom ceiling.
- Another handyman replaced the master bathroom window that was leaking.
- The maids cleaned the inside of the house.
- A pressure washing company power washed the home's exterior and cleaned out the gutters.
- The plumber cut a hole in the dining room to repair a leak. Our sheet rock guy patched up and repainted the ceiling.
Tal and I hope our house sells quickly and with a decent profit!