Ultimately, the decision of whether to sell or rent your home is apersonal one. There is no one-size-fits-all solution. However, as our story shows, a crucial financial consideration that every homeowner should keep in mind is the housing exclusion.
People also ask
Should I Sell my Home or rent a rental?
Upon selling your home, you can move into a rental that aligns with your close date, rather than worry about buying another home and timing it just right (or carrying two mortgages at once).
Is it a good idea to rent out your house?
淭he good thing about renting out your place is that, in some regard, you can time the market to see when the best time to sell would be,?says White. Renting it out for a year and taking a look at the market and your home value later could make this waiting game pay off.
Do you have to sell your house to buy a house?
You don need to sell your house to buy your next one 淭he first thing you need to ask yourself is 楧o I need to sell this house because I need the money for something else?’?says Emily White, a real estate agent with Keller Williams Realty. Many homeowners sell their current house to finance their next home, but this isn the case for everyone.
Should I let my existing property or sell it?
Before you decide to let your existing property, it is essential to diagnose why the property isn selling: It may be the price is too high or there is an easy problem to solve such as sorting out bad wiring, off putting cracks in walls or just updating the property with a lick of paint.