When it comes time to move, there are many options. You can sell your home with the help of a Realtor. You can try to sell your home by yourself. Or join the many people that have decided to rent their homes instead of selling it outright.
Here are three reasons that you may want to rent out your home instead of sell it.
- You owe more on your home than it is worth. Many people bought their house when the real estate market was high and they are going to lose a lot of money if they decide to sell now. It makes sense for them to try to rent it out for a few years to try to wait out the market and see if they will be able to make a profit on their home.
- You are being relocated but are hoping to return. Many people hate to leave their dream homes when they are being relocated for job. Instead of selling, they choose to rent their home, holding on to their home in hopes that eventually they will be able to come back home.
- Some people like to rent out their home so that they can still use it as a vacation home. This works well if you live in a college neighborhood where your home will only need to be used for part of the year. It may also work in tourist areas if you don’t mind vacationing in the off season.
There are just some of the many benefits to renting your home out. You may owe more than it is worth and you don’t want to lose money. Maybe you are relocating and hope to come back to your dream home someday. Maybe you just want to keep it as a vacation home!
If you are interested in learning more about renting your home, curious as to what your home might rent for, please give Housing Helpers a call at 303-545-6000 we are here to help you!