Are you thinking of relocating?
When you are weighing your options — Keep your current home and rent it out … or Sell — I like to walk people through the pros and cons.
The #1 Question – It depends what you want to do with the money!
If you need a chunk of cash to do something else, then selling is the best way to get that. Especially if you have equity built up.
If you are looking for income and long term appreciation, then keeping your current home and renting it out instead of selling may make more sense for you.
We can also walk through your return on equity and if it even makes financial sense to keep your current place. Return on Equity is rarely talked about!
– Do you want to be a landlord, and take on that risk?
– Are you buying another home locally? Or moving out of LA?
– Do you qualify for a second mortgage while holding onto the first place?
These answers will also affect your capacity to hold onto something.
If you DO want to sell, we can put a game plan in place to get ready. I’ll walk through the steps of getting the house ready, listing, accepting an offer and opening escrow.
Selling can be an emotional process too! This way you can be confident that before we even get to listing, you’ve gone through all your options and know this is the right move for you.
If you’ve been thinking about relocating but aren’t sure, I’d love to chat and walk you through your options. I never charge for a consult and can always help estimate the value of your home and rental comps to see what’s possible for you!