Sell or rent?

Whether it makes more sense to sell or rent depends on many factors. If your heir wants to move into the house later, you can achieve a high return by renting it out. But are you really prepared to take care of the management of a rental property?

When you sell your home, you also sell the obligations that come with ownership. You no longer have to worry about maintenance and have nothing to do if a pipe bursts or the cellar gets damp in the new residents' home. As a landlord, the situation is different. Here you have many obligations that you either have to take care of yourself or appoint a manager to do so.

Another advantage of the sale: you immediately receive a large sum of money, which you can use to finance a smaller property for your retirement home, for example, or which you can already distribute as a pre-inheritance.

On the other hand, you may be able to make a lot more money through returns if you rent out and only sell at a later date. The question is whether it is worth the effort and whether the returns are actually high enough. To clarify this, it is advisable to talk to a real estate expert about your situation.

Of course, renting out can also be the right solution if you know that your child or grandchild would like to live in the property after your death.

As you can see: The decision is very individual and many aspects need to be considered. Of course, it is always possible to rent out the property first and then sell it after a few years if this becomes too expensive.

Do you need help with this important decision? Contact us now, we will be happy to advise you.

Photo: Breakingpic