Here’s the scenario. You’re thinking about making a move, but can’t decide if you should sell your existing home or rent it out. Assuming you’re financially capable of moving without selling, which should you do?
Today I’ll discuss the pros and cons of each, and give you some insight that will help you make the best possible decision.
We will set up a scenario in the video that is very realistic. Obviously, it won’t match your situation exactly. If you would like for me to run the numbers on your particular plan, just give me a call!
Feel free to follow along in the video above or use the timestamps I’ve provided below to navigate the discussion at your leisure:
0:54—When you purchased the house originally
2:37—What you could rent your home for in today’s market
3:12—The responsibilities, benefits, and expected return of renting out the property
4:25—Property depreciation as a taxable loss
5:51—Thoughts about renting for a short period of time
7:14—Alternative investment options
Hopefully, this information helps you (or someone you know) to make a good decision with your next move. If you have any questions, don’t hesitate to reach out to me. I’d love to chat with you about your options.