When we bought (first house) we had intended to stay here for the long term – we loved the area and had jobs with flexible telecommutes. We bought the house to enjoy it, and so the upgrades are all things that enhance our enjoyment of the house and I don’t regret any of them. Careers take unexpected paths, though.
I honestly came into this thread thinking that cutting our losses was the way to go, but some of the rent-champions have given me good things to consider. Especially the rental property loss write-off… that one could be especially handy. I’ll look up the restrictions, but any preliminary info on how long it has to be a rental before it qualifies? I’d imagine at least one tax year (when you don’t take the mortgage interest deduction)? iiiiinteresting…
TG – if you’re still following: As the area expert – I’ve got my doubts about the ability of the city to recover and thrive in the next 5-7 years. It seems like business have shuttered as quickly as they’ve opened in the past few. Some inside sources have also hinted at layoffs coming at Abbott in the very near future (manufacturing as well as white collar). I don’t think we can do much in the way of recovery until San Diego does, and most folks on the site think SD still has quite a ways to go… thoughts?
Final thought (for this particular post): House is 6 years old – how long before I can expect the big maintenance-related repairs to start to come due, generally speaking? I don’t know that I have the stomach for that…
