I bought my townhouse 4 years ago in a rapidly growing community with a lot of new construction going up. Now I want to sell. However, townhouses in my complex are going for a mere 10-15K more than what I paid originally. There is still a lot of new construction going up. Should I take my small profit and just sell, or should I hold out for more appreciation and rent it out in the meantime?
2007-03-24 11:58:09 · 8 answers · asked by Courtney 2 in Business & Finance ➔ Renting & Real Estate
Renting is your safe bet. if u rent it out you'll be getting revenue and more value to your home vs. selling now and getting what you could have gotten over the course of renting out.
2007-03-24 12:01:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If I were you I would think about all the other things in the picture. How old are you or basically the question is will you die soon? If you are young then go for renting it. Another thing would be maybe to add accessories to make your deal better. Maybe instead of 10-15k profit you can make let's say 25-30k profit. but the final question is which of these is the weakest link?
P.S. lol
2007-03-24 12:04:38 · answer #2 · answered by Anonymous · 0⤊ 1⤋
It depends on what type of construction it is. If it is houses being built then the market will become saturated and your house will lose value as alternatives are cheaper.
If you are in the US the be warned: house prices are set to slump by a huge amount in the coming period. On that point to would probably be best to sell now while prices are good.
2007-03-24 13:29:45 · answer #3 · answered by bizwiz 2 · 0⤊ 0⤋
I would rent it out, that way someone is paying your mortgage and you own property which is always an investment which u can later sell and make some money.
2007-03-24 12:01:04 · answer #4 · answered by ... 3 · 0⤊ 0⤋
sell it while you can. Every new housing unit that goes up, gives consumers more options, making your townhouse worth less.
2007-03-24 12:01:05 · answer #5 · answered by Always Right 7 · 0⤊ 0⤋
rent it out , just be carefull who you rent to.
i currently sold my hose in a hurry a had to move interstate - and i regret it so much now it was worth so much more then we got for it (but we had no choice we had to sell) good luck.
2007-03-24 12:02:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
rent it till it's worth more charge midium or mayb high
2007-03-24 12:00:30 · answer #7 · answered by tiffy2104 2 · 1⤊ 0⤋
fix it and ull get more for it
2007-03-24 12:00:07 · answer #8 · answered by aLl I WaNtEd 5 · 0⤊ 0⤋