[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f287e0kruxl6zt":3,"$f2emv3tus0uf1":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},57941,"should-you-rent-out-or-sell-your-house","Should You Rent Out or Sell Your House?","\u003Cp>Figuring out what to do with your house when you're ready to move can be a big decision.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240729\u002F20240731-Should-You-Sell-Or-Rent-Out-Your-House-original.png","\u003Cp>Figuring out what to do with your house when you're ready \u003Ca href=\"\u002F2024\u002F07\u002F11\u002Fwhy-moving-to-a-smaller-home-after-retirement-makes-life-easier\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">to move\u003C\u002Fa> can be a big decision. Should you sell it and use the money for your next adventure, or keep it as a rental to build long-term wealth?\u003C\u002Fp>\u003Cp>It's a question many homeowners face, and the answer isn't always straightforward. Whether you're curious about the potential income from renting or worried about the responsibilities of being a landlord, there’s a lot to consider.\u003C\u002Fp>\u003Cp>Let’s walk through some key questions to ask to help you make the best decision for \u003Ca href=\"\u002F2024\u002F07\u002F09\u002Fwhy-your-asking-price-matters-even-more-right-now\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">your situation\u003C\u002Fa>.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Is Your House a Good Fit for Renting?\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Even if you're interested in becoming a landlord, your current house might not be ideal for renting. Maybe you're moving \u003Ca href=\"\u002F2024\u002F07\u002F22\u002Fhow-affordability-and-remote-work-are-changing-where-people-live\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">far away\u003C\u002Fa>, so keeping up with the ongoing maintenance would be a hassle, the neighborhood isn't great for rentals, or the house needs significant repairs before you could rent it out.\u003C\u002Fp>\u003Cp>If any of this sounds like it might apply, \u003Ca href=\"\u002F2024\u002F06\u002F25\u002Fhow-long-will-it-take-to-sell-my-house\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">selling\u003C\u002Fa> might be your best option.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Are You Ready for the Realities of Being a Landlord?\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Managing a rental property isn't just about collecting rent checks. It's a time-consuming and sometimes challenging job.\u003C\u002Fp>\u003Cp>For example, you may get calls from tenants at all hours of the day with maintenance requests. Or you may find a tenant causes damage you have to \u003Ca href=\"\u002F2024\u002F07\u002F17\u002Fwhy-fixing-up-your-house-can-help-it-sell-faster\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">repair\u003C\u002Fa> before the next lease starts. You may even have to deal with people falling behind on payments or breaking their lease early. \u003Ca href=\"https:\u002F\u002Fwww.investopedia.com\u002Ffinancial-edge\u002F1011\u002Ftop-6-tips-for-turning-your-home-into-a-rental-property.aspx\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cem>Investopedia\u003C\u002Fem>\u003C\u002Fa>\u003Cem> \u003C\u002Fem>highlights:\u003C\u002Fp>\u003Cblockquote>\u003Cem>\"It isn’t difficult to find horror stories of landlords troubled with more headaches than profits. Before deciding to rent, consider talking to other landlords and doing a detailed cost analysis. You might find that selling your home is a better financial decision and less stressful.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Ch4>\u003Cstrong>Do You Have a Good Understanding of What It’ll Cost?\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>If you're thinking about renting out your home primarily to generate extra income, remember that there are additional costs you’ll want to plan for. As an article from \u003Cem>Bankrate \u003C\u002Fem>explains:\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cstrong>Mortgage and Property Taxes:\u003C\u002Fstrong> You still need to pay these expenses, even if the rent doesn't cover all of it.\u003C\u002Fli>\u003Cli>\u003Cstrong>Insurance:\u003C\u002Fstrong> Landlord insurance costs about 25% more than regular home insurance, and it's necessary to cover damages and injuries.\u003C\u002Fli>\u003Cli>\u003Cstrong>Maintenance and Repairs:\u003C\u002Fstrong> Plan to spend at least 1% of the home's value annually, more if the home is older.\u003C\u002Fli>\u003Cli>\u003Cstrong>Finding a Tenant:\u003C\u002Fstrong> This involves advertising costs and potentially paying for background checks.\u003C\u002Fli>\u003Cli>\u003Cstrong>Vacancies:\u003C\u002Fstrong> If the property sits empty between tenants, you'll lose rental income.\u003C\u002Fli>\u003Cli>\u003Cstrong>Management and HOA Fees:\u003C\u002Fstrong> A property manager can ease the burden, but typically charges about 10% of the rent. HOA fees are an additional cost too, if applicable.\u003C\u002Fli>\u003C\u002Ful>","\u003Cp>To sum it all up, \u003Ca href=\"\u002F2024\u002F06\u002F10\u002Fselling-smart-why-a-real-estate-agent-makes-all-the-difference\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">selling\u003C\u002Fa> or renting out your home is a personal decision that depends on your circumstances. Whatever you decide, taking the time to evaluate your options will help you make the best choice for your future.\u003C\u002Fp>\u003Cp>Make sure to weigh the pros and cons carefully and consult with professionals so you feel supported and informed as you make your decision. That’s what we’re here for.\u003C\u002Fp>",false,[16,20,24],{"id":17,"name":18,"slug":19},6,"For Sellers","sellers",{"id":21,"name":22,"slug":23},53,"Rent vs. Buy","rent-vs-buy",{"id":25,"name":26,"slug":27},328,"Selling Tips","selling-tips","2024-07-31T10:30:00Z","2024-07-31T10:30:30Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},57530,"the-biggest-mistakes-sellers-are-making-right-now","The Biggest Mistakes Sellers Are Making Right Now","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240723\u002F20240730-The-Biggest-Mistakes-Sellers-Are-Making-Right-Now-original.png","2024-07-30T10:30:00Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},57989,"why-the-sandwich-generation-is-buying-multi-generational-homes","Why the Sandwich Generation Is Buying Multi-Generational Homes","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240730\u002F20240801-Why-the-Sandwich-Generation-Is-Buying-Multi-Generational-Homes-original.png","2024-08-01T10:30:00Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[47,51,55,56,60,64,68,72,76,80,84,88,92,96,100,101,105,109,113,117,121,125,129,133,137,141,145,149,150,154],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":52,"name":53,"slug":54},5,"For Buyers","buyers",{"id":17,"name":18,"slug":19},{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":65,"name":66,"slug":67},9,"Home Prices","home-prices",{"id":69,"name":70,"slug":71},11,"First-Time Buyers","first-time-buyers",{"id":73,"name":74,"slug":75},34,"Senior Market","senior-market",{"id":77,"name":78,"slug":79},35,"Mortgage Rates","mortgage-rates",{"id":81,"name":82,"slug":83},38,"Move-Up","move-up",{"id":85,"name":86,"slug":87},41,"For Sale by Owner","for-sale-by-owner",{"id":89,"name":90,"slug":91},42,"Featured","featured",{"id":93,"name":94,"slug":95},45,"New Construction","new-construction",{"id":97,"name":98,"slug":99},52,"Luxury \u002F Vacation","luxury--vacation",{"id":21,"name":22,"slug":23},{"id":102,"name":103,"slug":104},80,"Time-sensitive","time-sensitive",{"id":106,"name":107,"slug":108},81,"Outdated","outdated",{"id":110,"name":111,"slug":112},147,"Internal","internal",{"id":114,"name":115,"slug":116},148,"Do Not Autopost","do-not-autopost",{"id":118,"name":119,"slug":120},320,"Inventory","inventory",{"id":122,"name":123,"slug":124},321,"Agent Value","agent-value",{"id":126,"name":127,"slug":128},322,"Affordability","affordability",{"id":130,"name":131,"slug":132},323,"Buying Tips","buying-tips",{"id":134,"name":135,"slug":136},324,"Downsize","downsize",{"id":138,"name":139,"slug":140},325,"Economy","economy",{"id":142,"name":143,"slug":144},326,"Equity","equity",{"id":146,"name":147,"slug":148},327,"Forecasts","forecasts",{"id":25,"name":26,"slug":27},{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]