Should You Sell Your Home or Rent It Out?

Should you rent or sell your home? There are three questions that you should ask yourself to help you decide.

Lately, I’ve had a lot of folks asking me if they should rent their house out or sell it.

The truth is that we can help you with either option, but here are some broad guidelines to help you make that decision:

Which would you prefer? Which option is better for you, your family, your portfolio, and your long-term investment possibilities? If your house is under the $250,000 price range, you may be able to make a good investment by renting your property. If your home is above that range, the cost to bring your home up to selling condition will be high.

If your house is under the $250,000 price range, you may be able to make a good investment by renting your property.

Why would you want to rent instead of sell? Is it the income? Is it the ability to cover certain expenses because you don’t want to take a loss on the sale of your home? Your answers to those questions need to align with your long-term goals.

What is the best option for you? Depending on the price of your home, you’re often way better off selling your home, especially if it’s more than 2,000 square feet or if it’s above the $250,000 price range.

If you think the numbers I gave are arbitrary, or if you have any questions, feel free to give me a call. I’d love to talk about this with you in more detail.