When it is time to move to a new home, you may be presented with a scenario where you are unsure of what to do with your current property. If your circumstances are good and you do not have to sell your existing property in order to purchase your new home, then you face the choice of whether to rent or sell your house.
This opportunity to rent your existing home can be the first step into the industry of real estate investing and could give you a fantastic chance to create a passive income. That is if you wish to take it. Before you make up your mind, join our fantastic real estate investing classes. Providing you with all the skills that you need to become a successful landlord, you can then make an informed decision as to what route is best for you. Connect with our supportive mentors, read our informative online articles, listen to our interesting podcasts and more to expand your knowledge, weigh your options and choose what is going to be best for you and your loved ones.
The Main Benefits of Renting Your House
There are many reasons why homeowners choose to rent their property. More often than not, people choose to rent their properties to achieve financial gain. Rental income is usually enough to cover the mortgage payment and additional costs as well as a little extra for you to enjoy. Throughout the tenancy, your property will still be gaining equity so you will also benefit from natural appreciation over time.
A massive 80% of millionaires in the United States have achieved their wealth through rental properties. An impressive figure, right? With various professionals to assist with property management, these successful investors can enjoy a passive income without stress. By choosing to rent and not sell, you are taking steps to follow in their footsteps.
Renting one or more properties provides you with a good level of security as you maintain ownership of the homes. You are in control over which residents will lease your property and ultimately you are able to resume your residency there with minimal notice. A great benefit, especially if you are only looking to move away temporarily.
Why Choose to Sell Instead of Rent?
One of the main reasons why homeowners choose to sell their property is because they need to release the equity in order to purchase their new home. Increasing the deposit enables you to buy a bigger and better property and enhances your quality of living. If you don’t choose to put extra into your new home, it simply gives you a cash boost that you can spend or invest elsewhere.
Selling is the stress-free option in the debate of renting or selling your house as it is a single transaction that then allows you to move on with your life. There are no unexpected repair bills, no pressure with regards to residents and no need for management. It gives you a clean break.
Learn How to Achieve Your Goals
It is important to first understand your goals and what you are hoping to achieve with your property. Usually, this comes down to money. If you are dreaming of reaching financial independence, more time to spend with loved ones and an early retirement then renting your property is the route to take. If you would prefer a simple transaction of selling and moving on, need to use your equity to purchase a new home or want a low-hassle solution, then selling is the option to choose.
We understand that this is a significant decision in your life so we’ll be with you every step of the way. Our informative seminars are led by professionals who are successful in the real estate market. It is members like these that you will continue to connect with once you choose which path to take. Whatever your goals, we can help you achieve them.
Still Unsure of Whether To Rent or Sell Your House?
Should you sell or rent your house? Before you decide which path to take, we’ll make sure you are fully informed when you attend our helpful real estate classes in Houston. Join our free real estate workshop today by signing up online or getting in touch. We look forward to connecting with you soon.
Responding to an email inquiry, Al Gordon runs the numbers to see if it makes more sense to sell a Single Family residence that was purchased 4 years ago or turn it into a rental.
