Best answer

You need the money from your home sale to buy your next home. This is why most peoplesell their homes instead of renting it out. If you want to afford your forever home,or even just your next home,renting your current home out may not be an option.

People also ask

  • Should you rent or sell your home?

  • Selling or renting your home if it needs repairs. When repairs matter: In general, the condition of the home matters less to potential renters than buyers. So, if the home could use some work, it might make more sense to rent the property than make all the upgrades necessary to sell. Big-ticket items: Regardless of whether you rent …

  • What happens if you decide to sell or rent out one property?

  • Whether you decide to sell or rent out one of the properties, you will need to draw up an agreement on who pays what bills and what happens if you split. If you find this difficult to do, seek advice from an independent financial advisor or legal company, without an agreement, a split is going to be much harder than it need be.

  • Should I Sell my House or buy another house?

  • House hunters have limited supply to choose from, which means if you decide to sell, your home will receive a lot of attention ?provided that you檝e priced and marketed it well. When buyers are plentiful and you could potentially maximize value with a bidding war, selling becomes a more attractive option.

  • Should you rent out your home to make money?

  • Newer or well-maintained fixtures, appliances, flooring, and other core components of the home are also of heightened importance to long-term renters. You檙e confident you could make a profit. The question of whether it makes fiscal sense to rent out a property comes down to number-crunching.