You’re getting ready to list your home, should you list it for rent or for sell? It’s a common situation that people face. What’s the smarter option? Should you rent or sell?
Before you decide, you’ll want to ask yourself a few questions:
- Can you afford two homes? To decide you’ll want to ask if this mean that you have two mortgages that you’re paying? Can you pay one of them off? Will the money you bring in from the rental be worth it. You don’t want to have a rental and all the potential stress and responsibility that comes with it if all the money coming in just goes to the mortgage. You want to be able to make some money off of the home too.
- Will the potential rental hold its value? If the home is likely to lose it’s value, there’s no point in keeping it, but if it’s likely to appreciate, it may be worth it so that down the road you can turn around and sell it for more.
- Do you have the ability to be a landlord? If you’re moving across the country or you don’t want any extra stress added to your plate with your new job, renting may not be the option for you. When things go wrong with the home, you’ll need to be ready to take care of it. You’ll also want to be in-the-know on who’s renting your property. If you’re unable to meet the renters before they move in, there could be some issues.
Ready to find your next home?
Sorry we are experiencing system issues. Please try again.
If you’ve asked yourself these questions, you’ll then want to take some time to evaluate. Are you feeling good about renting? Do you feel like you could handle it?
Renting (when done right) can be a great deal! You can get a little extra cash each month and you don’t have to go through the hassle and emotions of selling your home. Let’s see if renting is the right option for you!
CALL/TEXT us today! 480-221-3327
Check out this Realtor.com article on if you should rent or sell.
If you want to learn about some financing options, or if you’re looking to get pre-qualified, contact Parker Turk at Sun American Mortgage Company: 602-616-3774.