I’m Relocating for a Job: Should I Sell or Rent My House?
You just received news of a fantastic opportunity that will change the course of your life in a good way. In the midst of the congratulatory emails and pats on the back, you may be wondering about what to do with your house. You quickly think, “I need to sell my house fast in Tampa, FL!” But then again, you realize you could rent your home instead. What should you do?
The decision to sell or rent your home will be based on a range of factors. We’ll discuss some of them below.
Things to Consider About Renting Your Home
Holding on to your current home could potentially cause issues for you when purchasing a new one in your new location. Some lenders have strict guidelines for primary residence mortgage loans and won’t provide loans for multiple primary residences. You also have to consider the market rate for rent and whether it can cover the cost of your existing mortgage.
- Can you buy a new home without selling the first one?
- Can you afford to pay a property manager to manage your previous home?
- Can you afford to pay expenses for two homes if the first one is vacant?
- Can you handle the eviction process for non-paying tenants?
Renting your home means your home is still considered an asset and can potentially provide you with good side income as well as get you through a tough seller’s market.
Things to Consider About Selling Your Home
In situations where time is of the essence, you’re likely thinking “I need to sell my house for cash in Tampa, FL as soon as possible.” When it comes to moving out of state, selling your home on the traditional market can be unpredictable. Plus, you have to think about the time and money needed to prepare your home to sell. For example, the repairs and cosmetic upgrades can be expensive. Where you will be relocating to matters as well. For example, if you’re moving from Florida to California or out of the country, will you want to fly back into town to deal with house-related issues?
Ethical Home Buyers Can Help
Selling your home with a company such as Ethical Home Buyers can get your home sold in a matter of weeks and supply you with money upfront that you can use for your new home. We will buy your home “As Is” which means you don’t have to worry about getting it into shape for a buyer. If we’ve piqued your interest, contact us to learn about the options available to you today.