You should sell if you plan to buy in another area that has discounted homes on the market like a short sale or foreclosure. That is, if you want to move you and your family for personal reasons. Any loss in equity you receive on the sale now you will recoup on the next purchase.
You should rent, if you can afford the luxury of moving and keeping both homes. Please note, renting a home can take a lot of work, time and money. However, you may be able to benefit from multiple properties in your portfolio.
Give me a call to discuss this further.
Lane A. Midgett
Associate Broker, ABRÂ®, e-PROÂ®
1776 Real Estate Group
901 Register Parkway Suite A
Richmond, VA 23226