You will buy a good house, but then you may need to leave this house because of your own choice or necessity. After you moved to another house, there is a big problem in your hand. What are you going to do with the old house? If you look at it, you can make a profit for yourself rather than having two houses. There are two things you can do; sell or rent. Which one do you prefer?
1. Will the old house provide cash flow?
The first thing you need to do when deciding whether to rent or sell your home is a few simple math operations. You should ask yourself that question. Will this property provide cash flow? In other words, when the property is rented, will it give you monthly income or expense? In answer to this question you can rent or sell your home.
2. Will it be an investment return?
If you sell your house today, calculate how much profit you will make. It would be useful to wait for the region to be valued if it would not earn you a large income to drive your home today. If the house does not have an extra workload for you to rent, the best option is to rent it.
3. Consider the taxes
A house causes you to lose a certain amount of cash each year as cash flow is provided. There are taxes to be paid and renovations to be made. In this case you have to do your math account really well.
4. Does the future look brilliant?
Another important factor to consider when deciding not to rent or lease your home is what the house expects in the future. In the next five, ten or fifteen years, look for the value your house will gain. Something develops in the area where the house is located? Is there a possibility that the value of your community will fall? If the future does not look brilliant, it will make more sense for you to buy your home now in order to live in the future.
5. Follow developments in the city
We do not have a magic sphere, but we can follow the developments in the city from the news. Each municipality has its own web site and the future projects are shared with the public. You can browse the website of your own municipality and check out the work that is planned to be done locally.