In Today’s Housing Market, Should You Sell Or Rent Your House?

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In Today's Housing Market, Should You Sell Or Rent Your House? Should your rent or sell your current home?getty Should your rent or sell your current home? With much of the optimism of the past decade wrung out of the housing market, I have been fielding a lot of questions about what to do with an existing home. In some markets or situations, you may be better off trying to rent out your home. Keep reading to help know if you should consider putting your home on the rental market. Do You Need Your Home Equity to Buy the Next Place? In reality, many people need home equity from their current home to buy their next home. You can avoid paying capital gains on the first $250,000 of profit when you sell a home you have lived in as a primary residence for at least two out of the last five years. Can You Afford to Rent Your Home? Do you have the time and energy to be a landlord? Will you be able to pay for repairs when they're needed? Also, will you be able to pay for the costs of owning this real estate when it isn't rented? Turning your home into a rental may make sense for many of you reading this. Work with your financial planner to find the right path forward when putting your home on the rental market or just selling it.