should I sell or rent

Recently, I finally bought a house.  will move from my condo.  I want to sell the condo.  But there is a condo above me, same exact condo ( size and layout) has been on sale for 6month, last week lower price 5K.  I will be willing to sell for 30K less, since my is one story lower.  should I sell? or should I rent it out for a year or so.  let the above guy sell his and then I will sell mine?  or price at 30K lower and let it compete?  I do not want to do long term rental for sure.  also afraid the renter damage the condo after a year or so.  I want to sell, but directly compete of the same condo, would it a very bad thing?  

Please help me out with the decision.  

Thank you so much

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how many units are on sale within a 0.5 mile distance? -borisg- 給 borisg 發送悄悄話 borisg 的博客首頁 (140 bytes) () 08/26/2025 postreply 12:10:56

Just counted, about 9 condos. the one upstair is 2nd lowest. -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 12:16:36

Do you have mortgage? If you do, what is the interest rate? -24橋明月夜- 給 24橋明月夜 發送悄悄話 (381 bytes) () 08/26/2025 postreply 12:12:56

no all cash. i only have it for 2yr, same or slightly higher -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 12:18:19

If so, I would say probably you should sell it for free cash -24橋明月夜- 給 24橋明月夜 發送悄悄話 (0 bytes) () 08/26/2025 postreply 12:20:27

yes! but not sure if it is ok to compete with upstair one. -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 12:30:15

if the upstares one not for sale, I'll sale mine. but now -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (186 bytes) () 08/26/2025 postreply 12:34:04

other thought is -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (353 bytes) () 08/26/2025 postreply 12:38:48

Understandable:) Then it is a bet. Either the price goes up -24橋明月夜- 給 24橋明月夜 發送悄悄話 (253 bytes) () 08/26/2025 postreply 12:46:58

haha, it is about the same as the 4% yield. hard to decide -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 14:36:01

but that is self manage and no big repair. -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 14:37:44

I don't need the money, am thinking to put all money in SPY -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 14:38:43

Not sure why not. It seems like it is a big condo building, -24橋明月夜- 給 24橋明月夜 發送悄悄話 (156 bytes) () 08/26/2025 postreply 12:40:39

small building, only 16 units. 9 for sale is within 0.5miles -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 14:31:11

I was in similar situation. The other unit is better -sj1993- 給 sj1993 發送悄悄話 (381 bytes) () 08/26/2025 postreply 13:20:46

good example. 隻要看著新就好賣。 -borisg- 給 borisg 發送悄悄話 borisg 的博客首頁 (0 bytes) () 08/26/2025 postreply 14:29:36

good to know. -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 14:31:57

賣,說不定有人投資樓上樓下一起買了 -偷油老鼠- 給 偷油老鼠 發送悄悄話 (0 bytes) () 08/26/2025 postreply 17:04:40

haha, I wish. should I price the same or lower? -Seasy- 給 Seasy 發送悄悄話 Seasy 的博客首頁 (0 bytes) () 08/26/2025 postreply 17:13:39

哈哈,你先上市賣不出去再降價不就行了嗎?或者出個很低的價,讓大家來搶,就把你的價錢給抬上去了 -綠園紫竹- 給 綠園紫竹 發送悄悄話 (0 bytes) () 08/26/2025 postreply 19:05:00

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