Should I Rent Or Sell My Home Before I Retire?
that is a very good question that comes from one of our views and we see pros and cons for both.
For instance if you were to sell vs rent you would be making a big amount of money right now, but since you probably not going to be reinvesting it into anything soon that money will soon disappear with a large purchase of a boat, RV or maybe another small home, but the home is gone and you don’t really need to take care of it, and that worry is out of your mind and you can enjoy your retirement
If your retiring younger then it makes sense for you to rent out your home for the extra income then sell it when the market peaks like it is right now.
Giving yourself extra money in your pocket for now when you rent will help you use with life and if your smart enough you can use it to invest and grow your bank
Now for the cons of both answers
for selling your home unless you plan on selling it through an owner then you should be taking most of the profit home, but if you decide to use a real estate agent and listing agent then you get 6% cut off your profits so make sure your aware of that,
Simples thing to do in this case is hire a good photographer and get the home professionally photographed and then use those photos and put them onto craigslist and wait for any biters
your going to make a bit more money there and get that money up front, as for selling your home you are going to be given a large chunk of money and that is it, what you do with that money is all entirely up to you and to reinvest that money is very important if you plan on living that luxury lifestyle because money is like a river in those situations
Next renting yes you make some money each month but you also have to deal with renters and then maintain the home here and there, because nothing lasts for ever, the water heater may go out and then other things may happen, depending on how good you are with keeping a maintenance schedule then you can use some of the money to cover maintenance costs.
What ever you choose both ideas are amazing for there own special occasions.