What factors should I consider when deciding to either sell or rent out my home?

We are moving out of country for approx. 3 years.My future housing will be provided for. My husband and I are grappling as to whether we should sell our house or rent out our house while we are gone.

Do you know of a website that might be helpful? Asked by garbanzita 21 months ago Similar questions: factors deciding sell rent home Home.

Similar questions: factors deciding sell rent home.

Sell I hear this discussed a lot on radio money shows. The rule of thumb is to sell, unless you have someone right there who can take care of the property. If you rent it out and the water heater breaks, how are you in Dubai, let's say, going to deal with the problem?

Are you going to get on a jet and fly back to get a plumber? No. What happens if the tenant stops paying rent?

Are you going to come back to evict him? No. OK, so how about keeping it vacant for 3 years?

You have similar problems: who's going to look after it? If raccoons break in and make a mess of your house, what are you going to do? Likewise if the water pipe breaks in the winter, what are you going to do?

Also, you have to keep paying mortgage and taxes on it. Let's say mortgage and taxes come to $20,000 a year. In three years, that's $60,000 you paid out of your pocket for a home you didn't live in!

You could save that money and have an even bigger down payment on a new house when you came back! As for management companies, management companies want to managed hundreds of homes, not just one. So you won't be able to find a management company to help.So the answer is sell everything off, put the antiques into storage, and when you come back, you buy a new home with brand new furniture with the $60,000 you saved and the equity you made from your former home.

With home values at an all time 'low' and a zillion foreclosures on the market... Your prospects of selling, even at a ’break even’ price are pretty slim. To help you make your decision, meet with a couple of different real estate brokers in your area. Have them do an ’appraisal’ or ’market analysis’ and see what homes comparable to yours are selling for.

If you OWE more than the value in today’s market...then you really can’t sell right now. Talk with them about their rental policies...what they charge to screen potential renters, collect the rent and see that the property is maintained. See if the amount of rent you can expect to receive will cover your PITI (principal, interest, taxes and insurance).

Call your insurance company and see what changes have to be made from owner occupied to rental property. Over a 3 year period, you can expect some ’wear and tear’ from renters...BUT...if they have put up a ’security deposit’, they will have to leave it in reasonably good condition when they move...or they forfeit that deposit money. (usually 1 months rent) The PLUS side of everything, is that the property values should increase over the 3 year period...so, when you return, even though you may have minor repairs and upgrades to do, your home value will have increased...and your mortgage has been paid down for 3 years.

Then would be the time to decide if you want to keep it or sell it. Sooo, your very first step is to meet with a couple of different realtors and see where you stand. They can tell you exactly how the market is in YOUR neighborhood.

That information will be much more helpful than researching a website.

2 Personally, I would sell. Having a rental house, myself, I can tell you being a landlord is highly overrated. However, if you believe you can get a good low-maintenance tenant, the potential for recovery in the real estate market may make it worthwhile.

Personally, I would sell. Having a rental house, myself, I can tell you being a landlord is highly overrated. However, if you believe you can get a good low-maintenance tenant, the potential for recovery in the real estate market may make it worthwhile.

3 Well, it's a crapshoot. No one knows what real estate prices are going to be in 3 years. With the large amount of inventory available in some parts of the country, it could take years to sell off before real estate prices will start rising again.

That's what happened back in 1989. Do you know for certain you will be gone for 3 years? Things can change, and if you stay overseas longer, the house can be a ball and chain dragging you down.

Another opportunity might arise you will have paid for 3 years mortgage for nothing. If you rent it out, what are you going to do if the tenants move out after a year? It's pretty difficult to rent a house when you're out of the country.

There's just a lot of variables that can happen. And without the house, you could save the mortgage payments and have a down payment you can put on a house anywhere in the country.

Well, it's a crapshoot. No one knows what real estate prices are going to be in 3 years. With the large amount of inventory available in some parts of the country, it could take years to sell off before real estate prices will start rising again.

That's what happened back in 1989. Do you know for certain you will be gone for 3 years? Things can change, and if you stay overseas longer, the house can be a ball and chain dragging you down.

Another opportunity might arise you will have paid for 3 years mortgage for nothing. If you rent it out, what are you going to do if the tenants move out after a year? It's pretty difficult to rent a house when you're out of the country.

There's just a lot of variables that can happen. And without the house, you could save the mortgage payments and have a down payment you can put on a house anywhere in the country.

Factors to be considered for deciding a projector for home theater.

Need to know how toadvertise my home for sale or rent or lease o ption.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.