Should you rent out or sell your home? I think the best thing is to consider your situation and if you like to handle tenants or if you like to sell it for a lump sump amount of money. If you’re near retired then you probably don’t want to deal with the hassle of tenants and potential problems arising from the tenants. It’s a headache with tenants as I’ve witness it myself. What if your tenant turn out to be a thief and stole thing from their adjacent neighbors and what if they turn out to be junkies too. I’ve witness this happening to one of my friends and he has to spend a lot of time and energy trying to clear the problems.
Problems even got worse when the tenants decided that they don’t want to move out and you have to go to court to get a judgement out of them. It’s difficult to deal with tenant and liability. It can be a headache for someone who is retiring or just busy. It’s great for someone who is young and can manage the headache of finding new tenants and tenants moving in and out. If you’re young then you can find ways to expand your property and even rent out more. There is potential for making more money as the real estate price will double in ten years and you can also build additional rooms and studios out for additional rentals. If you’re young and have the time and patience then you should definitely do it. There is potential to earn more and you can always sell later as real estate will always increase in price and they don’t lower in price.
The best investment could be in real estate. I think that you should definitely rent it out if you can handle the headache and the problems that renting will generate. You can make monthly income while still owning the property and can still sell it for more in the future. There is a lot of hassle and money lost too when it comes to selling your property right away. You can lose the value of it if the market is not high enough. You can get a good amount of money if the market is high enough and if it’s high in value then you should sell it and get a great profit from it but noticed that real estate only continue to rise instead of falling ten years from now so you will not be losing your money. You do have some fun renting out and the good news is that most renter will stay for a very long time too. They do and I have seen it. There are renters that stay as long as ten years so you can make a great income from renting and enjoying your little business.