I own a home in City A but want to move to City B. I could potentially scrape up enough for a down payment in City B to buy another spot but I’m unable to rent out in City A bc of HOA (on a very long list right now). Is it stupid to rent in City B while paying the mortgage in City A? Can I still manage the homestead exemption on City A? Thoughts??

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This is why I am always wary about very one-sided HOA rules. It sounds grand when you are thinking "I don't want to own a home amidst a bunch of rental properties" without taking pause to realize that means you could never rent out your own home. Also, it's shortsighted on the HOA's part. Which is better in the neighborhood, a rented house or a vacant house? 🤦‍♀️

But obviously it's too late for that lesson now. You said you can't rent it, but how is the selling market there? What kind of financial hit would it be to make two housing payments? Would the new salary cover the difference? How far would it be to commute for a while? And what would that transportation cost look like compared to your new salary and/or the option of two housing payments?

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Homestead exemptions are designed for your primary residence. If you do not live there, you may not declare a homestead exemption even if you end up renting your next residence. If renting this property is not an option, where does your desire to retain property A stem from?

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It’s at a 2.6% interest rate so I want to hold onto it but it’s a hard decision right now!

Since you can't make a profit off of City A right now (or can't find a way to do so)....and you don't know when you can rent it out, I wouldn't rent out in City B. But the heart wants what the heart wants lol.

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