I see many people who have asked themselves this question countless times and honestly, they have not been able to come up with a conclusion. This is not because they cannot just choose one out of them but they are trying to weigh the options, advantages, and disadvantages.
(You can see how to sell my home for cash here)
If you find yourself in this shoe, then you should stick to this article. It would help know what to do best. I bet you look forward to knowing more about this! Let’s move!
Should You Sell Or Rent?
The answer to this question lies in the disadvantages and advantages of the two options. If we can fully understand them, then we will be able to come up with a reasonable conclusion.
Advantages Of Renting Your Home
By renting your home, you can generate revenue probably on a monthly or a yearly basis. This way, it would take a while before you’re able to make back the money you put into the project.
By renting it out, you’re still the sole owner of the house; you have a large right percentage on the house. In a way, you might still be able to regulate the activities that go on in the house. Though it shouldn’t be overboard, it’s still your house.
Disadvantages Of Renting Your Home
Money comes in a bit
If you look forward to getting back the money you used to build the house, then you should be looking at a certain period of time based on the amount you’re getting monthly or yearly. You cannot get the money back once.
Maintenance of the house
Maintaining your house is not in your care any longer. Normally, you might have a standard you go for, but with people in it, they might not be able to maintain your home up to the standard you want it to be.
Now that you have seen this let’s talk about selling your home.
Advantages Of Selling Your Home
Money comes in bulk
When you build a house, you might have a particular amount that you invested into it, and then when you want to sell, you add an extra percentage to it, which means that you’re selling at a higher price. This way you can get your money in bulk to solve whatever need is on the ground.
You don’t have to worry about the house any longer
Any expense that the house incurs is no longer on you, so you don’t need to spend any money again on the house.
Disadvantages Of Selling Your Home
You don’t have ownership of the property
There is a prestige that comes with knowing you have a house. But in this case, when you sell your home, you don’t have any right to that house again. You have to worry about building another one.
You might miss out on property appreciation.
Depending on how much you sold the house, in the long run, you might still miss out on the property appreciation. Therefore a tendency it supersedes the amount you sold it for.
Having seen this, you should weigh your options and know what would work best for you.