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Ask Dave

Moving Overseas

Richard is moving back overseas, and Dave thinks that hanging on to the house would be a bad idea.

QUESTION: Richard is going to move overseas and asks Dave if he should keep his house or sell it. He may decide to come back someday. Dave gives him an example that makes him see why keeping the house is a bad idea.

ANSWER: Sell the house. If you lived overseas, you wouldn’t think about getting a rental house in Florida. If you choose to move back someday, there will be houses for sale then. By keeping this house, in a sense you are buying it again. You are becoming a landlord by default. If you come back, it will be a few years away and the housing market will have changed. I don’t do long range landlording and I don’t suggest anyone else do it.