Sell a Home and Become a Renter

Written by Leslie on 10/14/2019

Sell a Home and Become a Renter

Sell a Home and Become a Renter

With so many people dreaming of having a home of their own, it might not make sense to friends, family and co-workers if you are no longer interested in being a homeowner. For your own reasons, you may want to sell a home and become a renter instead.

There are times in life when it pays to invest in real estate and enjoy the benefits of home ownership. You have control of your living arrangement and you are most likely building equity over time. You have the security of knowing you cannot be asked to move out by someone else who owns the property, which is a comfort to former tenants when they’ve had to move when they didn’t want to do so.

Becoming a renter is not really the goal. Selling your home is the goal, and becoming a renter is simply the default status you’ll have once you move out of the home you currently own and move into an apartment, a condo or a rental house.

The Rising Cost of Home Ownership

Making monthly payments on a mortgage is just one significant cost of home ownership. Property taxes and homeowner’s insurance are two additional costs, and in many parts of the country the taxes and insurance costs may equal or exceed the mortgage payment. Increasing costs of ownership are common reasons that homeowners may decide to sell a house and pay rent instead. ­­­­

Another reason is maintenance costs. When professional service providers get involved in plumbing, electrical, heat and air conditioning service work, their bills can mount up. Aging properties with outdated plumbing and electrical wiring often require an additional investment of $10,000 to $20,000 in the property to bring either one of those systems up to city code.

Heating and air conditioning systems can easily cost $5,000 or more to upgrade, and water heaters, dishwashers and other appliances are several hundred dollars, if not more than a thousand dollars each, with installation costs.

Stop Investing More Money in Your Home

With one phone call or one email you can stop investing more and more money as a homeowner. Calling the experienced investors at WePayFast.com can save you the headaches and the expensive investments you face if you keep your house. Call 405-521-1807 or email [email protected] to sell a home an become a renter with no more property taxes, or insurance and maintenance worries.