If you're looking for investments in India
right now, you're going to want to take a close look at real estate growth in
the country. If you've ever wondered if you should sell your house or rent it
out in order to make a little extra money, we're going to look at both options
so that you can make an informed decision. The most important thing to do is
make sure you don't rush into anything.
When to Sell Your Home
First, let's take a look at the
various scenarios where you might want to outright sell your home rather than
rent it out for extra money. We're going to look at some of the pros and cons
of this method of real estate investing.
Quick Cash
- If you need to make some money quickly for one reason or another, you're
going to want to sell your home rather than rent it out. This will give
you the ability to make a lot of money in a matter of weeks or months.
Less Money
- No matter how much you get when you sell your home, it's all the money you're
going to ever be able to get out of that property. Compare this with
renting your house out month after month, which can be ongoing revenue that
lasts a long time.
When to Rent Your Home
Next, let's go over some of the
pros and cons of renting your home instead of selling it to someone else. As
you'll notice, this method of investing in real estate also has
quite a few benefits that may apply to you.
Long Term -
The best thing about renting out your home rather than selling it is that
you're going to keep making money. While you would get a lot of money
upfront for selling your home, there's a good chance you'll make a lot more if
you rent it out. This means you will have a monthly revenue stream that can be
really useful.
Maintenance
- On the negative side, you're going to make sure you keep up with all
necessary maintenance on the house. Even if someone's living there, if they're
paying you rent you need to make sure you take care of any problems that arise.
Make sure you spell out in the lease what tasks should be covered by the tenant
- like lawn maintenance for example.
Which is Right for You?
This is a question that only you
can answer. You should start by taking a long, hard look at all your available
options is going to give you the best chance of making a smart investment in
the real estate market. No two people are going to come up with the same
answer, but only by asking yourself questions and making a decision are you
going to be able to invest wisely.
Written by: Jenny Corteza uses Lotus
Square whenever she's in San Francisco because they have a rock solid
reputation when it comes to house cleaning. By hiring someone to help out
around the house, she has more time to write articles about a variety of
different topics.
