Rent or Sell?

If you own a home, it is a good chance that a deployment or PCS will cause you to leave that house.  Then you’ll have to decide – rent or sell?  Never an easy question, I’ve gathered several articles that will help you figure out which choice is best for your situation.

From the Military Officers Association of America comes this article:  To Rent or to Sell  Should You Rent Out Your House or Sell It?

360 Degrees of Financial Literacy:  Should I Sell or Rent Out My Present Home?  Sell or Rent in a Slow Market?

As you can see, there are many things to consider.  My family owns a house that we rent out, and we’ve been very fortunate that we have a fantastic property manager and that we purchased when houses were still somewhat affordably.  Our current home is tough to rent because the market is so expensive and we don’t have a good professional to take care of it for us.  Hopefully, these articles will help you to look at all sides of the situation and make a decision that you feel good about.

About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.
  • Kathleen

    I’m the sentimental type and always get attached to the home we’re in at any given time. One of the most difficult things, for me, is realizing that – especially in this market – what I think my home is worth isn’t necessarily what the market thinks it’s worth!
    We’re in the process of buying a home in New York State. Our seller’s also loved their home and were VERY distressed when the home was appraised several thousand dollars less than what they expected to net from the sale.
    My point? If you’re thinking of selling in the near future, it may be worth your while to consider paying for an independent appraisal before setting your selling price. If you can do that, you may be able to negiotiate some wiggle room with your buyers, it will help avoid a big let-down when it comes to the mortgage appraisal, and you’ll have a chance to wrap your head around the sentimental value vs. REAL value in the marketplace.

  • Kate

    That’s great advice, Kathleen! I hadn’t even thought of having an appraisal done before beginning the decision making process, but it makes perfect sense.
    Thanks for visiting The Paycheck Chronicles.

  • Wendy Gee

    We chose to rent our home. Fortunately our property manager requires a warranty on the house to provide for most of the maintenance in our absence. The renter is required to pay a $50 deductible when the warranty is used. This policy has saved us lots of headaches and in my opinion is well worth the cost. In addition we can write off the cost of the warranty.