What Should I Do With The House, Sell Or Rent It Out?

There are plenty of reasons why you might find yourself thinking about selling a house or renting it out. You may be moving up from a starter home or downsizing from a larger home. Or perhaps you’re relocating for a job, combining households, or inheriting a house from a family member. No matter what position you’re in, you have a decision to make. Should you sell the house or rent it out?

Before you make your decision, there are essential financial, emotional, and practical points for you to consider. And you’ll probably get plenty of advice from others too. While some people love real estate investing as a way to build wealth, others have no interest in at all.

Your smartest move? Listen to everyone and consider both sides — then do what’s best for you.

Reasons to Make the House an Investment Property

It’s easy to say you can just rent a house out; it’s another thing actually to do it. Although it may not seem like a big deal, from this point forward — stop thinking and talking about renting the house out. Using those words can minimize the work involved and the scale of the decision you have to make.

When you rent out a house for profit, you’ve started a business. You’re a landlord, the house is an investment…