We have recently been talking a lot about the opportunities out there for buyers. Between rates, prices and inventory we all know it’s a great time to buy.
However, many of our buyers currently own homes. And sometimes it’s just not the right time to sell your home. The idea to move forward, buy a home and keep one’s current home as a rental is a common one. This is a viable option for many, one that we advocate as part of a long term investment plan, but there are some serious considerations involved. One of course is qualifying for financing a second home and the other is that it is important to weigh the real costs of having a rental property.
We recently ran across this article from the National Association of Realtors. It has a good breakdown of many of the factors to consider.
The Costs of Renting Out Your House
Renting out your house can be a smart financial move, as long as you calculate your costs carefully. Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
If you have been thinking it might be time to make a move please give us a call. We would be happy to do a complimentary market analysis to help you make the best decision for yourselves and your family.
We enjoy the opportunity to help. It’s always a pleasure to catch up and see what you’ve done with the place!
Windermere Real Estate