 |
Keep it or Sell? |
| |
 |
We have 10.5 years left on a 5% mortgage, but need a larger home for our family. We like the home and location and would possibly move back down the road, but do we sell now in this slow market or rent it out and buy the bigger home we need now? Renovating may be too costly. Pricing on the larger home is becoming much more afordable. Do I seek advice from a realtor or a financial advisor? |
| |
| |
 |
If you're selling and buying in the same market at the same time, it doesn't really matter whether the market is up or down -- what you lose on one end you make up on the other. As you say yourselves, while it may be a slow market to sell your home, the larger one you want is becoming more affordable. I'd say sell. Renting out your present home is not a job for amateurs and it's easy to get into trouble as landlords. And when you did want to sell some time in the future, a house almost never looks as good after it's been rented out.
You can get good advice about the sale and purchase question from a real estate broker. |
| |
|
Edith
Originally published on October 19, 2007 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
