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- 给 borisg 发送悄悄话 borisg 的博客首页 (140 bytes) () 08/26/2025 postreply 12:10:56

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

Do you have mortgage? If you do, what is the interest rate? -24桥明月夜- 给 24桥明月夜 发送悄悄话 (381 bytes) () 08/26/2025 postreply 12:12:56

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

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

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

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

other thought is -Seasy- 给 Seasy 发送悄悄话 Seasy 的博客首页 (353 bytes) () 08/26/2025 postreply 12:38:48

Understandable:) Then it is a bet. Either the price goes up -24桥明月夜- 给 24桥明月夜 发送悄悄话 (253 bytes) () 08/26/2025 postreply 12:46:58

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

but that is self manage and no big repair. -Seasy- 给 Seasy 发送悄悄话 Seasy 的博客首页 (0 bytes) () 08/26/2025 postreply 14:37:44

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

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

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

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

good example. 只要看着新就好卖。 -borisg- 给 borisg 发送悄悄话 borisg 的博客首页 (0 bytes) () 08/26/2025 postreply 14:29:36

good to know. -Seasy- 给 Seasy 发送悄悄话 Seasy 的博客首页 (0 bytes) () 08/26/2025 postreply 14:31:57

卖,说不定有人投资楼上楼下一起买了 -偷油老鼠- 给 偷油老鼠 发送悄悄话 (0 bytes) () 08/26/2025 postreply 17:04:40

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

哈哈,你先上市卖不出去再降价不就行了吗?或者出个很低的价,让大家来抢,就把你的价钱给抬上去了 -绿园紫竹- 给 绿园紫竹 发送悄悄话 (0 bytes) () 08/26/2025 postreply 19:05:00

总可以卖掉的,先后无所谓,如果不着急就定自己觉得合理的价格。如果租 租客毁房的情况会影响价格和销售 -sac- 给 sac 发送悄悄话 (0 bytes) () 08/27/2025 postreply 12:43:47

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