sell home or rent it out?

Question

This question is for people who have experience with being a landlord or a realtor. I am thinking about selling my home in 1 or 2 years. It is an older home about 30 years old in a nice neighborhood. I have made upgrades to my home such as remodeling the kitchen, putting in new carpet, paint, and inside doors. Would it be a better financial investment to sell the home right out when I decide to move or try and rent it out for a few years? I do know that there are down sides to being a landlord but I know there are some positives. Please give me some sound advice and suggestions.

Answer 1

I found that it wasn't easy renting a home with carpeting because if you don't restrict pets, you're going to have to replace the wall-to-wall when the tenant leaves. If you do say No Pets, you have a harder time finding good long-lasting renters. (For some reason, people with pets don't move frequently.)
On the positive side, you can find lovely people who cherish the place like you do, who can put in the landscaping and decorative touches you didn't get to, and they care for your neighbors. You can count on a monthly payment, not very many service calls, and very likely if you do decide to sell later, they will be the first to make a bid. With the bust in housing these days, trying to sell can be a process so I would suggest renting.

Answer 2

2

Answer 3

Even being a Realtor can have it's drawbacks to being a landlord. If you plan on investing in real estate regularily, then try the renting thing for awhile. But don't do it unless the numbers work for you.

The items you describe as being upgrades, painting, new carpet, inside doors, those are maintenance items. Remodeling the kitchen does add value.

Answer 4

Rent To Own Homes - http://RentToOwnHome.uzaev.com/?ydrC