You want to move and nothing is going to change your mind. The current property no longer suits you and you have got your heart set on moving across the country. The question now is what you will to do with the home. Will you sell it? Or will you rent it out? Either way, you have to decide right away. There are pros and cons for everything. To make things easier for you, we have closely analyzed the two alternatives.
Selling the house
If you are moving across the country and not planning to come back to the area, then there is no point in keeping the property. You are better off selling it. There are many reasons to sell a house in 2018. Buyers are drawn more and more to the real estate market. You have the opportunity to make good money selling your home. As long as you set the price right, you have nothing to worry about. Determine what the property is worth and find a prospective seller.
If your family is not interested in acquiring the house, then look for a private buyer. Have you not seen the We Buy Houses Tuscaloosa ads? There are people willing to buy your home. The best thing of all is that they offer hard cash. Just think about it. Is there any reason why you should not sell your home? Well, if you have a good relationship with your neighbors and you feel that your house is really special, you might want to reconsider your decision. Selling is not always the best option.
Renting the house
Have you ever thought of becoming a landlord? Chances are that it has not even crossed your mind. You can generate substantial income with the property and, most importantly, end up with a positive cash flow. When you rent a house, you get depreciated for it for tax purposes. But are you likely to find renters if the home is in a poor condition? Of course, you are. People are willing to overlook imperfections. They know that that they are simply passing through your home.
Your location is irrelevant when it comes to rental collection, so it does not matter that you have moving across the country. Leave a bank account and tell the tenant to deposit the rent directly into that bank account. Before you leave, it is a good idea to do some fixing. If you know that there are problems with the plumbing or the yard needs some work, then take care of it immediately. Once you are gone, there is nothing you can do, except for travelling miles and miles. That is not what you want.
Take into consideration all aspects before reaching a decision. Once you have a good understanding of your options, you will be able to make the best decision. No matter what you choose to do, you will get a net gain. You are not in a no-win situation. The result is in your favor.