It’s no secret that the real estate market can be temperamental. When homeowners find themselves unable to sell their home, many turn to the renting as a way of cutting the costs while waiting for the market to pick back up. Depending on your current situation, renting your home out may be a reasonable option. Here are some advantages to renting:
When you decide to rent calculate the numbers to see if the rent will cover the mortgage and other rental expenses. Landlords also gain tax advantages in addition to the regular deductions of mortgage interest and taxes, talk to your CPA for more information.
Renting your home until the market turns around or until you are ready to sell can be a good financial move. To help you qualify for a new loan, lenders on average count 75% of the rent payments as long as you have a one-year lease. So when considering renting or selling feel free to contact me with any questions or concerns.- Tamera Roulund email@example.com