renting or selling you home, that is the question
| Renting Out | |
| Pros | Cons |
|
· Keep property as it appreciates
|
· Possible damages to property
|
|
· Tax-breaks could offset income tax on rent
|
· Could be taxed on the whole profit if you sell
|
|
· Rent income covers mortgage, taxes and insurance payments
|
· Potential legal or financial problems with tenants
|
| Selling | |
| Pros | Cons |
|
· Likely tax-free capital gain
|
· Could be priced out of market if you want to return
|
|
· Frees up equity that could be invested or rolled into new home
|
· Lose potential property appreciation
|
|
· Simplicity: Only one house to maintain
|
· Could have to sell at a bad time for real-estate market in your area
|
