Should You Sell Your Home or Rent It Out 4 Times to Hang On Tight By Jillian Pretzel Jul 1 2019

While many homeowners reach a point where they decide to sell their place, here’s an alternative to consider for your own home: rather than sell, you may rent it out instead!

You may have assumed you would just sell your current house, but it could be smarter to hang on to your property instead. Here are four times renting out your house might make more sense than selling it—take a look to figure out whether it might make sense for you, too.

1. You don’t need to sell your house to buy your next one

• If you don’t need to sell your house to get into your next one, you might consider renting it out for a while so you can enjoy some passive income—then sell later when the time feels right.

2. You’re able to qualify for a second mortgage

• Meet with a lender who then crunches the numbers on your finances to see how much you can afford to borrow.

3. It’s a bad time to sell your house in terms of the market

• The 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.

4. Your house is in a good renter’s area, and renter-ready

• So much of real estate is about supply and demand, so if there’s a big market, your home could be a great cash cow for years to come.

The first thing you need to ask yourself is ‘Do I need to sell this house because I need the money for something else?’  For more information to consider go to bmre.us/hint12