To Rent Or Not To Rent.
Sometimes selling isn’t all it’s cracked up to be, so it may be a good idea to rent. Why not build a portfolio instead? Renting your property out can be an appealing alternative in some markets. Let’s dive into what you may want to consider when debating your options for renting or buying.
Prices Have Dipped.
The market is shifting and prices are dipping. You definitely won’t be getting the same prices your neighbors got a year ago. If this gives you heartburn, renting may be a better option. Don’t give money away just because you think you want to sell now. If you wait and hold onto your property, you will see prices go back up to where you need them to be in order to get the profit you were expecting.
Faster Than Selling.
If you don’t have time to wait to sell, you might want to rent. Who wants to go through the whole song and dance of putting your home up on the market, waiting for a buyer and then closing the sale all before you see your first dime? Homes are taking longer to sell, if you are leaving quickly or relocating you might want to consider renting instead.
Keeps Your Options Open.
If you are relocating temporarily, then you don’t want to sell. You and I both know you want to come back to Colorado. The cost of living is good because Colorado is great! If you sell then it is hard to buy back into Colorado. If you keep your home and rent it you still have a horse in the race and you won’t be priced out when you come back.
Diversify Your Income Streams.
If you have a loss of income then renting is a good option. You can usually rent for more than your mortgage is so you can make a little money each month. If you want to downsize you can rent and you get income without the loss of your hard earned property investment. This can help give you time to figure things out if needed and help to expand your portfolio.
The Experts At Taylor Realty Group Are Here To Help.
Yes, it is crazy out there in this ever-changing market landscape, however our experts at Taylor Realty Group are here to help. With every change and shift in the marketplace, we are there to help guide you in whatever transaction you need. Mike Taylor has been deeply involved in the Real Estate market since 2004 and he has seen many market corrections in his time. He is here to help you through the process, contact him today if you have questions. We got this, together.
In Conclusion.
You have to be very conscious of the marketplace and the competition around you. Wondering what your home is worth and if it is the right time to sell? Give us a call! We will get you a FREE custom report in 3 minutes!
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