Selling or Buying

[dextertou]

I own a mortgage-free house worth around $425,000 and I am relocating to Calgary to start a new job. I quit a very lucrative executive job (that I hated) to take a much lower paid job (that I love), and without a rental income, or selling my house, I will not be able to afford living in Calgary. Luckily, I don't have any loan, debt or financial obligation. I am debating whether it would make more financial sense to rent the house or sell it. I have a serious and reliable person who is willing to rent my house for $1,900 + utilities on a 2-year lease. The only expense I would have to incurr are municipal taxes (annually $2600). The house is in good condition and would likely not require any upgrade or significant expense in the next few years.

I don't know much about investing and real estate, but my thinking is that it would be more advantageous for me to rent the house, use its equity to buy a property in Cagary, and use the rent money to pay for the mortgage and other monthly housing expenses. I'm also thinking that keeping my house would allow me to sell it at a higher price when the economy gets better.


Fishers IN Homes
Carmel IN Homes For Sale

[all13]

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In my opinion thats very nice online source to improve your investment knowledge.

[ansh29]

In my opinion owning a house is much more beneficial than the rent. anyways it depends upon the rates belongs to that area.

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[Landlord Legal]

Hold onto it.
The real estate market isn't shooting upward any time soon, but it will recover, if you're willing to hold out.
Besides, if you can pull in some extra income each month from a rental agreement, it's a no-brainer: turn it into a rental property and let it appreciate.
Best of luck with your new job!

_________________________
Brian
Rental Agreement

[Saman]

whether to rent or buy a house is a vital decision.Most people rent houses because they do not have enough money to buy a house. Renting a house is a expenditure. But buying a house is a capital expenditure. I personally prefer to live in my own house than renting.



_________________________
Saman
london office space to rent

[taxlienadvisor]

Hello, Just thought I would post my opinion on your question.

I think it would depend on the area your home is in, and whether or not you can get a good value for your house. If you live in an area where the property values have not decreased much, you may want to consider selling, moving to Calgary, and moving on to the next phase of yout life.

With tenants, even though it may be reliable, you get the 4 T's (toilets, trash, termites, and tenants) ... if you can sell close to market value..I would take the money and move to Calgary

The reason I say that is, I think we will be in this condition or most liekly worse for the next 3-5 years...so right now may be a time to sell if the properties will drop even more..do you reall want to be a landlord for the next 3-5 years?

Anyways, if you could let me know where the home is located, I could have a better idea of what advice to offer...If you need a good realtor in MASS, I have a great reference.

GOOD LUCK

[jindi]

From My point of view you should try new houses or property in France which will give you great discounts.
thanks

[crokodile]

Laeeque Ahmed is famous for selling at asking price, if not for all the other scams. Maybe next do some research on people before you deal with them. Thank god for forums and blogs.