Factors in Your DecisionThe decision making process needs research. There are a variety of components when making the complicated decision to rent or sell your home. Consider this:
Do you need the money from your current home to pay for your new home?If you need the money from your current home to buy your new home, the decision is already made: you need to sell your home. But even if you can afford to buy your new home without selling your current home, ask yourself these questions:
- How does the amount you can get from selling compare to what you still owe?
- How much rent can you get?
- How much money will you have to spend to make your home appealing to a renter?
- Can you afford maintenance costs on a rental?
- Do you have a landlord personality?