Should You Sell Your House Or Rent It Out?
Wednesday Mar 14th, 2018Share
So circumstances have recently changed, and you need to move houses. Do you sell your current house or rent it out?
Surely your decision could purely rely on finances, but there are other factors attached to such a decision.
Here we will take a look at what you should consider before making what could be one of the most important decisions of your life!
You Are Being Temporarily Transferred
If your job is transferring you to another area but you know that the move is only temporary and you will be moving back in your home in a couple of years, then you are most likely better off renting out your house. This way you are making money off of a property you know you are coming back to in the near future.
The Rent Can Cover Your Mortgage Payment & Expenses
This could be a smart way to possibly fund your retirement. You should calculate your mortgage plus expenses and calculate if the incoming rent can pay for them. You could keep doing so until your mortgage is paid off and then sell the house to receive a lump sum amount, or you could keep renting it out as a steady income.
Home Prices Are Up
This could be a very tempting situation that needs to be taken advantage of. The market could be at its best and you may be in a situation where you want to reap the best benefits out of your home, then you are most likely better off selling it.
The Condition Of Your Home
Buyers tend to get attracted to an improved home, the best version of it. Whereas renters wouldn’t mind living in a home that lacks a little bit of improvement since they know they will not be staying there forever. So make a sensible assessment of your home and consider it when thinking about renting out or selling.
You Hate It When Someone Moves Or Alters Anything In Your House!
Ok, so, you may have all the reasons in the world to rent out your house but you are the type of person that absolutely hates it when and if anyone makes any type of change to your house or furniture, what do you do?
You may want to consider selling, because you will not have an easy time knowing that someone else is using your property.
These are just a glimpse of what you should consider doing with your house and enough to put you on the right track.
For a consultation on this or any other matter please don’t hesitate to contact me at any time, I am always here to help.