Thinking about selling but curious if turning your home into a rental makes more financial sense? Fret not! 

Here are several scenarios to help you make the right call:

Consider your Finances

If you need the profits from selling your home to fund your next home, you’ll need to put the brakes on renting—at least for now.

Consider your attachment to your current neighbourhood

If a job has you moving out of the area, but think you may be coming back, renting may be the right move—especially if you love your current home. (A word of caution: If you tend to freak out about modest home mishaps, handling strangers in your home may not be for good for you or your nerves.)⁣

Consider Your Monthly Budget

If the rent can cover your mortgage, and you don’t need the profits from selling, renting can be a savvy decision. You just wanna make sure you leave enough wiggle room in the budget for lapse in renters and unexpected repairs

Consider the Current State of the Real Estate Market

If the rumour mill around you is churning out whispers of “higher than asking price” and “multiple offers,” selling may be the way to go. With interest rates so incredibly low, you don’t wanna miss out on all those serious buyers

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Before deciding solo, talk with a realtor who can give you the rundown on your neighbourhood’s rental and housing market. After all, teamwork makes your dream work! 

Looking for an agent, give me a call. I’d love to help.