Why You Should Sell Your Home Instead of Renting it Out this Year
A lot of investors have this one investment property that they have purchased to rent out in hopes of selling it in the future. If you are one of these people, then let us tell you why this year is the best year to sell your home:
1. Your property is prone to damage. Many investors have had horror stories of their rental properties not being cared for, their furniture destroyed, their fixtures damaged. The owners end up with spending a lot of money for repairs (and sometimes, even in lawsuits) when it’s time to sell, or if not, the value of their properties decline significantly. You might think, well, I interview my tenants before I give them the keys and that sometimes works, however, some people could just be giving you their best foot forward and oversell themselves. This has happened to a lot of landlords already that several TV shows such as Worlds Worst Tenants, and websites such as My Tenant From Hell and Bad Tenants List have been created.
2. Featured on Fox News recently was that A lot of young adults are expected to buy a home instead of rent this year. Because of the rising cost of rent and interest in real estate, more young adults have chosen to purchase their own property in hopes of building equity. Last year, about 4.2 million renters have chosen to purchase a home and according to survey and studies conducted by Bloomberg Business, about 5.2 million renters are expected to buy their property this year. It has also been noted that the rise of employment rates in cities such as Atlanta, Dallas, Las Vegas, San Francisco, etc., is a contributor to the growing number of home buyers.
3. Its a sellers market out there. The inventory of homes for sale in the country is definitely limited right now and with the increasing number of buyers out there, it is truly the best time to put your home in the market. We’re experiencing some of the highest sold prices in a long, long time! Of course, there are a lot more factors to consider when deciding to have your Gwinnett home rented out or sold. To get a deeper analysis on which is the best option for you, reach out to Georgia Real Estate expert who can help you weigh your decisions. Call a Real Estate Agent in Gwinnett County from the Jarvis Team Realty at (678) 999 1001 or visit their website at www.GAHomesDigest.com. These professionals can also help you determine the value of your home so call them today!
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