Should I Sell My Home?
If you're facing a move, you might ask, "Should I rent out my home or sell it?" In a struggling economy, when houses sit vacant and on the market for weeks (or even months), it's essential to weigh the benefits of renting them out.
One of the most significant advantages of renting is earning passive income while retaining property ownership. This can be especially beneficial if you're looking for additional income or are still waiting to sell your home.
Another reason renting may be a better option is if you're in a buyer's market or interest rates are high, making it difficult for sellers to qualify for financing to buy homes. In these situations, selling your home for a fair price can be difficult. By renting out your home, you can wait for the market to improve and sell later.
Finally, renting may be a better option if you're not sure if you want to stay in the location where you are moving. By renting your home, you can maintain ownership while exploring other living arrangements.