Should I Sell My Home or Rent it Out?

The value of my home is lower than I expected. Should I sell it or rent it out? findwell agent Matt Martel answers in this installment of Ask an Agent.

Q: The value of my home is lower than I expected. Should I sell it or rent it out?

Whether to sell your home is a very personal decision. Some sellers may want to sell the home even if they do have to take a loss on the home, and others may be less willing to do that, it all depends on your personal situation.

For example, if you’re taking a job in a new city and you just don’t want to be burdened by having a home in the city you’re leaving, you may be a much more motivated seller and willing to take a loss on that home. However if you’re just moving across town, rather than take a loss on that home you might be more willing to just rent it out for a few years and let the value come up and get a little rental income that hopefully covers the mortgage payment that you already have on that home. So, it’s very subjective.