Segment 2 – Should I Sell or Rent My Home in 2022
Many homeowners consider renting out a home, they need to move out of instead of selling. What are some pros and cons of selling the home vs renting the house out?
A Home Owner should consider keeping it in some situations but others could lead to disaster.
Need the Money from the Sale to Buy your Next Home
Here are the red flags:
● If you are Leaving AND NOT coming BACK, it makes sense to sell it.
● If you need to move and you DO NOT experience Renting out a home, this is another reason you should consider selling it.
Let's start with it you need the money out of your home.
● You can take a home equity line of credit
● But the numbers have to make sense.
● Great website called: BiggerPockets.com
● Investment Calculator
● Legal Aspect of Owning a Rental
● Lease Agreements
● Handling Deposits
● Handling Repairs and Maintenance
● Handling Evictions
If you are thinking of making a move and would like some detailed information about renting vs selling you can go to our website:
What are some other issues that homeowners should consider when deciding whether or not to sell a home or rent it out?
● Repairs and maintenance
You need a cash buffer for ‘murphy’
● Tenants are not too good at:
▪ Caring for the landscaping
▪ Plumbing
▪ Mechanical systems
▪ Neighborhood Rules
● Repairs and maintenance - Bright Side
▪ Great LEASE w Contractors
▪ Warranties
▪ Who You Rent to Matters
● Tax consequences
If you lived in it 2 for the last 5 years After that, you may have to pay Capital Gains. Some people use what is called a 1031 exchange.
What if You Will RETURN TO THE HOME?
1. Be Prepared (the Browns Story)
2. Plan on Cosmetic Damage
3. Plan on Landscaping Damage
4. Hire a Property Manager!
If you want to look at all the numbers Rent vs But you can go to our website: www.BarbHasTheBuyers.com or give us a call at 719-301-3900
We are here with Barb Schlinker on the Real Estate Voice show, if you are
thinking of selling your home and want to get the MOST amount of money when you sell Call Barb at 719-301-3900 or visit www.BarbHasTheBuyers.com
When we come back: we will be discussing: Top Questions to Ask Agents When Selling Your Home
#realestatevoice #barbschlinker #coloradosprings #yourhomesoldguaranteedrealtycolorado #barbhasthebuyers
