đĄđđWhen youâre ready to move, figuring out what to do with your house is a big decision. And today, more homeowners are considering renting their home instead of selling it.
Recent data from Zillow shows about two-thirds (66%) of sellers thought about renting their home before listing, with nearly a third (28%) taking that possibility seriously. Compared to 2021, when fewer than half (47%) of homeowners considered renting before selling, itâs clear this trend is on the rise.
So, should you sell your house and use the money toward your next home or keep it as a rental to build long-term wealth? Letâs walk through some important questions to help you determine the right path for your financial and lifestyle goals.
Is Your House a Good Fit for Renting?
Before you decide what to do, it's important to think about if it would make a good rental in the first place. For instance, if youâre moving far away, managing ongoing maintenance could become a major hassle. Other factors to consider are if your neighborhood is ideal for rentals and if your house needs significant repairs before itâs ready for tenants.
If any of these situations sound familiar, selling might be a more practical choice.
Are You Ready for the Realities of Being a Landlord?
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