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Should You Rent or Sell Your Current Home Before Buying a New One?

Today I will discuss the topic: Should You Consider Keeping Your Current Home and Making it a Rental Property When You Buy Your Next House?

First, I want to remind everybody we are having a FREE seminar on March 7th, at 11:30AM, at The Willcox Hotel in Aiken, South Carolina. We will discuss whether you should consider renovating, buying, or building to meet your current needs, plus your future needs so you can age in your home. Space is limited! Call TODAY to reserve your spot (lunch is included)! 803-278-1818.

Back to the topic at hand today: Should you consider making your home a rental property when you buy your next house? Well, it depends on several things. Maybe you owe $200,000 on your house, and the house is worth $350,000. You can access that $150,000 equity if you sell the house. You can put that amount towards your new home or whatever you want to do with it. Or maybe you could consider getting an equity line of credit against that house, so that you can access the equity and keep the house.

But, do you like managing a house? Are you prepared to manage more than one house? Some people aren’t comfortable doing that, but if you are, then start from there. Next, look at whether your home is in a good location that will be desirable for people to want to rent? If so, what can you rent that house for? Will the rental be sufficient enough to cover your expenses and also allow you to save money?

“A home is still the biggest asset that most Americans own.”

This could be an option for you! If you want more information, or want to talk about it further to see if it works for you, give me a call. My team and I are on standby 7 days a week, ready to help you take the smoother road to sold.

And don’t forget, CALL TODAY to reserve your spot if you want to attend that free seminar on March 7th, at 803-278-1818.

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