Selling a house can be a big deal. However, there are plenty of reasons why you should consider selling your house. In this video you will learn one reason why it may be time to call a top real estate agent and get that house sold.
In this episode of the Ramsey Show, Christy calls in about whether she should keep or sell her house. The house is located in California near where her family is located.
However, her husband is in the military and they had to move to another state. They plan on moving back in five years. In the meantime, they are renting out the property. However, it is struggling to break even. Dave responds to this by saying that they should simply sell the house and buy a new one in five years if they do indeed move back. Plans can change in five years. Plus, that property will be a hassle to manage remotely, and may even lose them money. Therefore, the property is a sunk cost. It would only be worth keeping if it were going to make a decent amount of rental income. On the other hand, the money from the sold house could be put in a mutual fund and be used to buy an even better house in five years.