Property in US – What best to do with it

[LOUIS REZIN]

Hi,

I plan on retiring at the end of this year at age 62 and moving to Panama, possibly returning to the US when I reach 66. I wonder how expats in a similar situation have managed their properly while they are out of the country e.g. lock it up, lease it out, or sell it. Obviously, when I move I don’t want the worry of my house hanging around my neck, and wondered how others in this situation handled it, and their experiences.

Any comments much appreciated.

Louis

[JESSICA RAMESCH]

Dear Louis,

I hope other members of this forum will comment. I had a rental and so I didn’t have to deal with this when I left the States. I have heard from many others who have either rented out or sold their homes. To date I have not met anyone who just locked it up (though this would be a viable option…possibly…if you plan to live there for part of the year). It would help to get input from your financial advisor and a real estate expert who knows (intimately) the area in which your house is located and the neighborhood market. A lot depends on equity, your local rental and real estate market, and your personal financial situation (assets and debts), to name a few.

[Author]

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