I have lived in the U.S for 30 years, we plan to move back to Ireland permanently within the next 2 years and buy a house. My wife will move back July 2018 with the children and I will follow in July of 2019. We are both dual citizens. We own both a primary residence and a rental property, we plan to sell the primary residence before July 2018. The quandary I have is what to do with the rental property. The rental property is in my name only as I bought it prior to getting married. I owe $100000 on the property, it is worth $325000. After expenses I clear $1000 a month. The mortgage will be paid off in 12 years if I hold onto the property. I am wondering what would be the best thing for us to do and the consequences of each action
1. Sell prior to my wife moving back next year?
2. Sell prior to me moving back in July 2019? 3. Hold onto the property and continue to rent it out while living in Ireland? It is a huge move for us all after living in the U.S for so long, we just want to make sure that we do not make any financial mistakes adding to the stress.
1. Sell prior to my wife moving back next year?
2. Sell prior to me moving back in July 2019? 3. Hold onto the property and continue to rent it out while living in Ireland? It is a huge move for us all after living in the U.S for so long, we just want to make sure that we do not make any financial mistakes adding to the stress.