What is better to sell my house at the price that I currently own on my mortgage( hard to sell)or to rent it?

Question

real estate is frozen now and I can not sell my house to get any profit, therefore I'm selling for less than what I paid for it.

Answer 1

Well. Depends? Are you ready and willing to be a landlord? Now you have to remember this...you own everything, you have to pay the taxes, you have to pay the insurance, you have to pay if the furnace blows or the electrical blows...etc. Are you willing to do that financially? Some tenants can be awful and call you everytime a lightbulb goes out, and you, unfortunetly, have to replace everything that isn't there's. The lightbulbs are considered yours. In some places you'd be responsible for yard work, snow removal, etc.

Sometimes starting with a clean slate can be just as good as starting with a couple thou in your pocket. HOWEVER...is it a possiblity to rent until someone is willing to buy at your asking price? Or the price the house is worth? Or possibly rent to own? You hold the deed, but they treat you like a loan? They pay everything and when they've paid off what you are asking for the house you sign the deed over. OR when they are in a stable financial situation they take out a loan and pay you 100% in full? Just some ideas/concerns you may not have thought of.

Answer 2

You should rent it of course. Selling is not going to help yet. But maybe in a few years ?

Make sure that the rent price is higher than the monthly payments of the mortgage.

Answer 3

yo i think u should rent it cause in the long run you'll get more cash $$$$$$$$

Answer 4

If  you can afford it then rent it out for more then your payments are because you will still have to pay taxes on it and have renters insurence and fire insurence .also if a pipe burst or the AC gos out you are responsible  for fixing it and any other problems .that may come up in the middle of the night .

Plus paying for a company to rent it for you if you choose not to deal with all the dead beats out there.

Good Luck