What to Consider When Deciding Whether to Sell or Rent a Home
When you move out of your home, you may be faced with a difficult decision: will you sell your home or rent it out to someone else? This is a difficult decision and can be costly in the long run. The personal finance blog Money Crashers has several suggestions on factors to consider.
Renting out a home can be a great way to generate passive income . It can also incur huge costs that can outweigh any profit you make. Money Crashers offers several factors to consider. First, think about the cost of rental space. Now you have renovations, you pay two mortgages, and if you have a bad tenant, eviction can be costly. On the other hand, depending on when you bought the house and how much it is worth now, you could lose the value of your home if you sell it now. Renting can be a great way to generate income while you wait until your property is worth something. Check out the complete Money Crashers guide below to find out when to sell and when to rent.
Should you sell your home or rent it out? – What to Consider | Money crashers