Over 6 million houses sold in 2021. The number of homes sold is the highest it's been in over 15 years. Selling your house sounds tempting, but there's also renting. Which one is right for you?
There's no doubt the housing market is on fire! There are pros and cons to selling and renting. Our guide walks you through the benefits of each.
You may feel the pressure to make a quick real estate move. Choosing to sell or rent your home is a life-changing decision. Before you settle on selling or renting, read our guide to help you make the best decision!
Benefits of Renting
If you're not sure you're ready to sell your house yet, renting is a popular option. Over 58% of Americans have the flexibility to work remotely. This change in work culture enables individuals to explore the country and keep their job.
Renting your home to a tenant in town for a short-term or long-term rental can be a win/win situation. If you are hoping to have an adventure of your own but still have a place to call home, renting might be for you.
Renting doesn't have to be a long-term solution. But, it does give you the freedom to travel, work remotely, or house hunt elsewhere. Cover your mortgage with a renting tenant until you're ready to make the big move for yourself!
Investing in rental services like a property manager is a wise choice. They take care of matters like collecting rent to scheduling maintenance appointments.
Benefits of Selling
Deciding to sell your home is a momentous decision. You are leaving the past behind and starting a new adventure. Whether you're moving across town or the country, selling your home is hotter than ever.
If you intend to downsize, a sold home alleviates large expenses. Electrical, plumbing, and HVAC maintenance are some of the most expensive homeowner costs.
If you become a renter, these expenses become nill. The extra income you save turns into investments or a travel fund.
Selling a house opens you up to a new world of real estate. Maybe your family is growing, and you need more space. Or, your new job is taking you to a new state.
These are major life changes! Selling your home takes one big thing off your plate. And it allows you to focus on new chapters with less stress!
Property Management Assistance
If you choose to rent, look into hiring a property management company. Their services are imperative to help you in your rental property venture.
A property manager takes care of all the matters you don't have time for. They have the connections and experience to manage your property with excellence.
A property management service screens tenants and performs background checks. They take care of rent collection and enforce late-rent policies.
If a tenant experiences a maintenance issue, they call the property manager, not you. The manager takes care of scheduling the appointments necessary to fix the issue. They keep your property running so you can focus on other things.
Is it Time to Sell or Rent?
Now that you know some of the benefits of renting and selling, it's time to decide which one is right. Is it time to sell or rent?
While the selling market is still hot, it is trending towards a cool-off soon. But renting will always be popular. It comes with less responsibility and more freedom.
Reach out to our property management office today if you plan on renting your property! Our team has over 30 years of experience and looks forward to helping you with your rental needs.
Start living the next chapter of your life now!
Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.