Should You Lease or Sell Your Property Before You Move?
Published on Monday, 18 January 2010
It's hard to decide whether to sell or lease your property when you're moving. Selling it might take a longer time, but you get a huge amount of money right away. It might be easier to find someone to lease your property but you get less cash. Here are some pros and cons related to selling and leasing your property. * You have more obligations as a landlord if you lease your home. You have to spend for maintenance and repair of your property regularly. * If you lease, though, it's faster to find a tenant. You also don't lose the title to your property. Rental fees from tenants can stretch to as long as you own your flat or house. * It's hard to look for good tenants if you decide to lease. You might have a hard time collecting rent from other tenants. * It's harder to look for people willing to buy property now. It will take a longer time for you to look for a buyer. * Once you sell your house, it's out of your hands. You don't have to worry about maintenance and repair. * You can use the equity from selling your house to buy a new home. You might want to sell your house or flat but have a hard time looking for buyers. In this case, you can lease out your property first whilst waiting for a good buyer. That way, you can still earn until someone pays good money to buy your property.
