Why Sell When You Can Rent it Out?

For Rent Sign

In case you haven’t noticed home prices are on the rise again, and for many homeowners now is the time to take advantage and sell their homes. With so many families finally above water, they can finally move into a home without owing on a mortgage. But with home price predictions rising there are many arguments against selling your Henderson or Las Vegas home, and to instead rent it out. Here are some of those arguments.

Renting Versus Selling

Home Prices Projected to Rise
The value of the home you want to sell is expected to continue to rise, and for this reason you may be selling a home now for $200K that may be worth $220-$240K in just a few months. By renting it out, even for a short period, you may be able to sell it for more in the near future.

Possible Profits
Sure, selling your home today could mean profits, if you are able to rent your home for more than your monthly mortgage and management fees you may have created a revenue stream. You must report the additional income to Uncle Sam, but many homeowners continue to receive a mortgage deduction as a write-off as well.

Multiple Property Ownership
This is the most obvious reason to maintain ownership of your existing residence and buy a new one. Owning multiple properties means that you have assets that can be monetized or sold at a later time.

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