Relocation

Moving to a new city or state creates real estate decisions most people haven't navigated before. What do you do with the property you're leaving? How do you buy in a new market you don't know?

Sell vs. Rent Your Current Home

Renting your departing home sounds simple but adds complexity: you become a landlord, the home no longer qualifies as your primary residence (affecting future sale tax exclusion), and financing your new purchase may require counting rental income.

Selling gives you clean capital for the new purchase. Renting preserves the asset and can generate income. The right answer depends on your equity position, rental market, and long-term intentions.

Primary Residence Tax Exclusion

• You can exclude up to $250K ($500K married) in capital gains if you've lived in the home 2 of the last 5 years
• Converting to rental resets the clock — you'll need to move back or eventually lose this benefit
• Timing the sale before renting can save significant taxes on appreciated homes

Buying in a New Market

• Remote buying requires more due diligence — inspection, local agent, market comps
• Financing while owning another home: lenders count existing mortgage in DTI (or rental income if you document it)
• Bridge loans can help if you need to buy before your current home closes
• Understanding local market dynamics matters more when you're not there day to day

If You Have Investment Properties

• Rentals in your old market can continue operating with professional management
• Consider whether the market you're leaving still fits your investment thesis
• 1031 exchange lets you sell and roll into an investment property in the new market
• Out-of-state investing requires trusting your team — PM, contractor, local agent

Relocating and trying to figure out your real estate situation? Let's work through the options together.